UPDATED with closing stock price
smiled and clapped alongside Stephen Colbert, Trevor Noah, Gayle King, a SpongeBob SquarePants mascot and other talent as confetti rained down and they rang the opening bell.
The company has one of the lowest price-to-earnings ratios of any company in the S&P 500, which makes it attractive to many investors looking to steer clear of tech companies and others with high P/Es . But the stock action of late hasn’t indicated a clear vote of confidence from investors. Shares in CBS and Viacom had each retreated about 15% from the time when the long-gestating merger finally was announced last August and their final day of trading on Wednesday.
Several workers told Deadline that the town hall, which was live-streamed to employees around the world, featured Bakish and Redstone speaking. CBS News anchor Norah O’Donnell served as moderator, and some senior-level executives previously more aligned with CBS were in the room. None of the Q&A portion, employees said, created an uncomfortable atmosphere as has been the case with the Disney-Fox and AT&T-Time Warner deals.
While there were no awkward moments, one attendee came away without a lot of specifics, which is perhaps not unexpected on Day 1. “They just kept repeating ‘content’ and ‘culture’ over and over,” the person said.
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