By Joe Otterson
ViacomCBS Withdraws 2020 Financial Guidance, Plans Cost-Saving Moves
27.03.2020 - 15:47 / variety.com
ViacomCBS on Friday became the latest media giant to warn investors about the grave threat to its business operations posed by the fallout from the global response to the coronavirus pandemic.
The newly merged company said it has undertaken proactive “cost-saving initiatives” to offset the sudden loss of revenue from advertising and other sources as the U.S. and other key markets implemented aggressive social distancing mandates. Disney, Comcast and Sony Corp. have issued similar statements
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ViacomCBS Latest Media Company To Withdraw Financial Guidance, Warn Of ‘Material’ Impact From Coronavirus Pandemic
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