Roku, ViacomCBS Shares Spike on Comcast Deal Speculation

Roku and ViacomCBS shares jumped on Wednesday following a report in the Wall Street Journal that said Comcast CEO Brian Roberts was considering a deal with one of the two companies.

Roku shares rose 4.5%, while ViacomCBS’ stock price went up by 2.7%. Comcast’s investors, though, were not too keen on the idea of Comcast shelling out billions. Comcast’s stock price fell by 3.7% at the end of trading Wednesday.

According to the Journal, Roberts is hell-bent on increasing Peacock’s stature in the streaming era, which has so far lagged behind competitors. During its most recent earnings, Comcast executives touted that they have 42 million sign-ups for the service, which features both free and pay options. The Journal, citing people close to the company, said that of those 42 million, less than 10 million are paying customers.

Following Discovery’s merger with WarnerMedia and Amazon’s recent acquisition of MGM, Roberts is said
See full article at The Wrap »

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