ViacomCBS Unveils Paramount+ Mega-Bundle and Other Big Moves

ViacomCBS (NASDAQ: VIAC) has largely been cast off by the market. The legacy TV provider has been so out of favor that despite tripling off its March bottom, it still trades at a forward P/E ratio of just 6.4.

With that type of valuation, one might think Viacom is on its way to extinction; however, about one year after CBS merged with Viacom, the combined company is making big moves to keep up with the times. On Tuesday, the company announced what may be its most important move: The company would be rebranding its CBS All Access streaming bundle to a much larger "mega-bundle" named Paramount+, which the company will unveil next year.

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Source Fool.com