I'm selling VIAB. They need to produce too many hits across too many properties to win without sports. More focused niche brands such as HBO can do this. But there's just no way Viacom can win across the board. In this environment, it pretty much has to.
At the time of publication, the author had positions in NWSA and VIAB. He intends to sell VIAB this week after the market reopens and consider a long position in CMCSA.
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