ViacomCBS announces new leadership for streaming services

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ViacomCBS Inc. announced Tuesday new leadership for its streaming operations, effective immediately. Current Pluto TV Chief Executive Tom Ryan will be CEO of ViacomCBS Streaming. He will oversee CBS All Access, which will be renamed Paramount+ in early 2021, and Pluto TV, and have oversight of the company’s global streaming strategy. Marc DeBevoise will step down from his role of chief digital officer of ViacomCBS and CEO of ViacomCBS Digital. Kelly Day, current chief operating officer of ViacomCBS Networks International (VCNI) will be president of streaming for VCNI, and will oversee all digital and streaming platforms outside of the U.S. “As we plan for the launch of Paramount+, bringing together the leaders of our streaming platforms to create a unified global organization will enable us to execute a holistic strategy across both free and pay,” said ViacomCBS Chief Executive Bob Bakish. ViacomCBS’s stock, which gained 0.9% in premarket trading, has dropped 35.4% year to date through Monday, while the SPDR Communication Services Select Sector ETF has rallied 11.3% and the S&P 500 has gained 6.1%.
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