The media company's stock has slumped roughly 57% year to date.
News & Analysis: ViacomCBS Inc.
The issue should close within the next few days.
The publishing house is no longer seen as one of Viacom's core assets.
COVID-19 is going to have a big impact on the entertainment industry this year.
Plans for an upgrade of CBS All Access don't yet address the key headwinds already working against it -- and ViacomCBS as a whole.
Fresh off a merger, management is looking past the recent weak results and eyeing a big prize in the lucrative streaming market.
The freshly reformed media giant published weak fourth-quarter results.
The famous Sega character's box office win could make other companies eager to get in on the game.
"Sonic the Hedgehog" Rewards Paramount's Handling of Audience Complaints With a $57 Million Opening Weekend
The studio took action on early problems with the movie's character design and may have ended up creating a durable franchise.
It hasn't been confirmed by the company, but the new service appears akin to one in the works from a key rival.