ViacomCBS: withdraws annual targets
(CercleFinance.com) - ViacomCBS has announced that, due to the coronavirus pandemic, which is ravaging the macroeconomic environment and imposing measures to halt its spread, it is withdrawing its financial targets for 2020.
While it has experienced production delays due to the health crisis, the media and entertainment group says that it is working proactively to compensate for the anticipated loss in income through cost savings measures.
In addition, ViacomCBS confirms its forecast of generating 750 million dollars in annualised cost synergies from the merger between Viacom and CBS over the next three years, as well as its targets in terms of Pluto TV subscribers and users.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
While it has experienced production delays due to the health crisis, the media and entertainment group says that it is working proactively to compensate for the anticipated loss in income through cost savings measures.
In addition, ViacomCBS confirms its forecast of generating 750 million dollars in annualised cost synergies from the merger between Viacom and CBS over the next three years, as well as its targets in terms of Pluto TV subscribers and users.
Copyright (c) 2020 CercleFinance.com. All rights reserved.