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We have the scale to take on Disney and Netflix



Bob Bakish, head of a recently combined CBS and Viacom, said the company has the scale to take on media rivals.

In an interview with CNBC's Andrew Ross Sorkin, Bakish cited ViacomCBS's content library, which includes 140,000 TV episodes, 36,000 movies and 750 series, as enough ammunition to fight the likes of Netflix, Disney, Comcast and others participating in television -strømmingskrigene.

The comments come after CBS and Viacom announced on Tuesday an agreement to merge, reunite the two companies after 13 years and several attempts at an agreement since 201

6. The new company will be called ViacomCBS and Bakish will lead the combined entity .

"It has almost unparalleled scale on the content page," Bakish said. "We have a clear scope in the content. There is no doubt that the companies are obviously stronger together than they are independent of each other."

Viacom and CBS, which are valued at $ 11.8 and $ 18.2 billion respectively, are still dwarfed by Disney, which is worth $ 246.8 billion, and Netflix, which has a market share of $ 136, $ 7 billion.

With the merger announced, investors' attention has turned to whether ViacomCBS will bet on further deals in an attempt to further increase its competitive edge. Bakish said M&A could serve as a "vehicle" to boost the scale, adding that the company is looking at the options going forward.

"It's early days, we're just getting started," Bakish said.

"[CBS and Viacom] went apart at a different time in the media, with different circumstances surrounding it," Bakish said. "Putting them together today is the right move."

The acquisition, which is expected to close by the end of the year, creates a combined company with more than $ 28 billion in revenue.

CBS stands to acquire the Paramount Pictures film studio, cable networks including Comedy Central, MTV, Nickelodeon and BET, as well as the streaming service Pluto TV and South Park Studios as a result of a merger with Viacom. CBS owns the old broadcast network, as well as other cable and media properties.

When the merger is complete, it is possible that the combined companies may look to acquire another company, such as Discovery, Starz or Sony, among others. Lions Gate, the parent company of Starz, has previously had talks with CBS about relieving the entertainment network.

Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC and CNBC.com.


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