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Fly News Breaks for August 13, 2019
VIAB, VIA, CBS
Aug 13, 2019 | 16:17 EDT
Bernstein analyst Todd Juenger downgraded CBS (CBS) to Underperform from Market Perform following the company's confirmation earlier of a deal to combine in an all-stock merger with Viacom (VIAB). Any synergies produced "will pale in comparison" to inheriting Viacom's structural problems, Juenger tells investors.
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