Bob Bakish says company has seen “no material effect to date” from coronavirus
Tim Baysinger | March 4, 2020 @ 8:25 AM
Last Updated: March 4, 2020 @ 9:03 AM
Matt Winkelmeyer/Getty Images for Vanity Fair
ViacomCBS will look to offload its Simon & Schuster publishing unit, Bob Bakish said Wednesday during an investor conference.
“We’ll engage in a process and look at strategic alternatives for Simon & Schuster,” the ViacomCBS CEO said during the Morgan Stanley Technology, Media and Telecom Conference in San Francisco. He added that the publishing unit “is not a core asset. It is not video-based. It does not have significant connection for our broader business.”
The publishing company founded in 1924 by Richard Simon and M. Lincoln Schuster. Viacom acquired Simon & Schuster in 1994 as part of its acquisition of Paramount Communications. It went with CBS Corp. after Sumner Redstone split the two companies in 2006.
In regards to the fears over the spread of coronavirus, Bakish said ViacomCBS has seen “no material effect to date” other than having to move the release date for “Sonic The Hedgehog” in some Asian markets. “Conceptually, the broader media industry on a relative basis is probably less exposed that other sectors and ViacomCBS is less exposed relative to some of its competitors,” he said.
ViacomCBS is coming off a rough first earnings quarter since re-combing last year, not only missing Wall Street estimates but also posting a loss.
18 New Midseason TV Shows Ranked by Premiere Viewers: From 'Broke' to 'Listen to Your Heart' (Photos)
When it comes to broadcast TV, winter is typically no fall -- but a few of this year's new midseason shows could have made the cut for an earlier start, ratings-wise. TheWrap has ranked all of 2020's midseason series premieres -- so far -- by their "live" total-viewer tallies. Spinoffs of Fox's "9-1-1" and CBS' "FBI" had impressive starts, The CW's "Riverdale" offshoot and ABC's "The Bachelor Presents: Listen to Your Heart" did not. Scroll through our gallery for the Nielsen returns for the 18 midseason shows that have debuted this season and check back for updates as more premiere. Least-watched is first, most-watched is last. Readers can find our Fall TV version of these rankings here.
Rank: 17 Show: "Duncanville" Net: Fox Total Viewers: 1.5 million
Fox
Rank: 16 Show: "Flirty Dancing" Net: Fox Total Viewers: 1.8 million* (*Time period premiere. Special post-NFL doubleheader series debut, which aired live across all timezones, earned 3.2 million viewers)
Fox
Rank: 15 Show: "Zoey's Extraordinary Playlist"* Net: NBC Total Viewers: 2 million* (*Time period premiere. Sneak-peek preview of first episode got 2.7 million viewers)
NBC
Rank: 14 Show: "Indebted" Net: NBC Total Viewers: 2.1 million
NBC
Rank: 13 Show: "The Baker and the Beauty" Net: ABC Total Viewers: 2.6 million viewers
ABC
Rank: 12 Show: "The Bachelor Presents: Listen to Your Heart" Net: ABC Total Viewers: 2.97 million
ABC
Rank: 11 Show: "For Life" Net: ABC Total Viewers: 3.178 million
ABC
Rank: 10 Show: "Outmatched" Net: Fox Total Viewers: 3.202 million
Fox
Rank: 9 Show: "Council of Dads" Net: NBC Total Viewers: 3.9 million
NBC
Rank: 8 Show: "Lincoln Rhyme: Hunt for the Bone Collector" Net: NBC Total Viewers: 4.4 million
NBC
Rank: 7 Show: "Deputy" Net: Fox Total Viewers: 4.6 million
Fox
Rank: 6 Show: "Tommy" Net: CBS Total Viewers: 4.787 million
CBS
Rank: 5 Show: "Lego Masters" Net: Fox Total Viewers: 4.837 million
Fox
Rank: 4 Show: "9-1-1: Lone Star" Net: Fox Total Viewers: 5.8 million* (*Time period premiere. Special post-NFC Championship series debut earned 11.5 million viewers)
Fox
Rank: 3 Show: "Who Wants to Be a Millionaire?" Net: ABC Total Viewers: 6.3 million viewers
ABC
Rank: 2 Show: "Broke" Net: CBS Total Viewers: 7.05 million
CBS
Rank: 1 Show: "FBI: Most Wanted" Net: CBS Total Viewers: 7.19 million
CBS
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Two spinoffs started off strong — two did not
When it comes to broadcast TV, winter is typically no fall -- but a few of this year's new midseason shows could have made the cut for an earlier start, ratings-wise. TheWrap has ranked all of 2020's midseason series premieres -- so far -- by their "live" total-viewer tallies. Spinoffs of Fox's "9-1-1" and CBS' "FBI" had impressive starts, The CW's "Riverdale" offshoot and ABC's "The Bachelor Presents: Listen to Your Heart" did not. Scroll through our gallery for the Nielsen returns for the 18 midseason shows that have debuted this season and check back for updates as more premiere. Least-watched is first, most-watched is last. Readers can find our Fall TV version of these rankings here.