CBS logo seen at the CBS Television City Studio in Los Angeles, California.
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ViacomCBS on Thursday said its earnings fell short of revenue and profit expectations in its first quarterly earnings results since closing its merger, sending shares down 7% in premarket trading.
Viacom and CBS completed their merger in December in their third attempt since 2016, aiming to gird against competition in a rapidly consolidating media universe while partnering with and battling the likes of Netflix and Walt Disney.
The merger reunited media mogul Sumner Redstone’s entertainment empire and brought Showtime networks and CBS News under the same roof as Nickelodeon,…