Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Mogul Diller says ViacomCBS, Comcast don’t need deals to succeed

Stock MarketsJun 10, 2021 03:52PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
3/3 © Reuters. FILE PHOTO: ViacomCBS headquarters is pictured in New York, New York, U.S. December 5, 2019. REUTERS/Kate Munsch 2/3

By Helen Coster

(Reuters) - ViacomCBS (NASDAQ:VIAC) Inc and Comcast Corp (NASDAQ:CMCSA) can succeed without acquiring other businesses, IAC Chairman Barry Diller said during a Reuters Newsmaker event Thursday.

The media and Internet mogul, who helped found Fox Broadcasting Company, described competing with Netflix (NASDAQ:NFLX), which would require significant investment, a "fool's errand" at this point. “But can you do very well for yourself and for your shareholders if you simply have good ideas, execute them well?" he said. "There will be buyers, there will be an audience for those things. Absolutely.”

Diller’s comments came as media experts expect a fresh round of mergers following the recently announced deal between Discovery (NASDAQ:DISCA) Inc and AT&T (NYSE:T), which will create a new company that combines Discovery and WarnerMedia assets. Soon after Discovery and AT&T revealed their plans for the proposed new company, Warner Brothers Discovery, Amazon.com Inc (NASDAQ:AMZN) announced it will buy U.S. movie studio MGM.

Although conglomerate IAC is not currently weighted heavily toward media - with investments that include MGM Resorts (NYSE:MGM) International and Care.com - Diller has a long history in the sector. He described Comcast as being in a “fantastic position” with a cable and broadband business that hedges against NBCUniversal. “I don’t think they have to do anything,” he said of whether Comcast needs to spin off a business or get bigger.

The Internet and media mogul brushed off concerns about Netflix’s debt burden. “Unless they do something just remarkably stupid, just declare them a winner and go home,” Diller said, speculating that subscriber revenue will eventually line up with production costs, delivering a “very nice return for investors.”

Mogul Diller says ViacomCBS, Comcast don’t need deals to succeed
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email