ViacomCBS Inc.
VIAC
position
long
Michael Karsch
Thesis
We started buying Viacom stock in the high thirties. We believe it is in the value stage of the lifecycle. People have made the assumption that cable programming isn't a great business anymore due to concerns about multi-channel penetration decreasing over time. However, existing contracts with cable operators call for price increases, and the impact of competition from services like Netflix is manageable in the near term.
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