Key Takeaways From ViacomCBS's Proposed Restructuring

ViacomCBS Inc VIAC will split the management of its movie and television businesses at Paramount Pictures under its latest restructuring, Bloomberg reports quoting Dow Jones.
Nickelodeon chief Brian Robbins will oversee films, succeeding Paramount Chair and CEO Jim Gianopulos, while ViacomCBS television veteran David Nevinswill add oversight of the Paramount television unit, the Wall Street Journal reports.
Paramount Television which currently makes content for services, including Apple Inc's AAPL Apple TV+ platform and Netflix Inc NFLX, will now focus on making content for its sister cable and streaming networks.
The film industry is striving for recovery after the pandemic compelled studios to release multiple movies online and in theaters, cutting potential ticket sales.
Paramount's "A Quiet Place Part II" raked in almost $300 million globally.
Price Action: VIAC shares traded higher by 1.84% at $40.38 in the premarket session on the last check Monday.