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ViacomCBS Pauses Up to $2.5 Billion in Asset Sales Amid Virus Crisis

virus pandemic crisis Coronavirus
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hollywoodreporter.com:

The novel coronavirus is not only expected to cause a recession and wreak havoc on entertainment industry earnings, the pandemic has also had an impact on mergers and acquisitions, with several planned asset sales in the sector delayed amid the crisis.

ViacomCBS, for one, has signaled that two planned divestitures, for which it is believed to be eyeing price tags of $2 billion to $2.5 billion on a combined basis, with the cash proceeds expected to go toward paying down debt, will be delayed by the virus crisis until later this year.

Since the pandemic's impact on earnings is unclear, price tags are becoming tricky to weigh for potential buyers and sellers.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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