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ViacomCBS Eyes Cost Savings as Virus Crisis Could Have "Material" Impact
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hollywoodreporter.comViacomCBS, led by CEO Bob Bakish, said Friday that the coronavirus pandemic could have a "material" impact on its results, withdrew its 2020 financial guidance and said it was planning "cost savings initiatives" to offset some of the expected revenue losses. "Global concerns about the coronavirus disease 2019 have impacted the macroeconomic environment, as well as ViacomCBS Inc.’s business," ViacomCBS said in an early morning statement.
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