ViacomCBS is looking for some fresh cash to bolster its push into streaming. The company on Monday said that it would take to market $2 billion in Class B common stock and $1 billion inSeries A Mandatory Convertible Preferred Stock.
In a statement, the company said it would use the cash generated from the sales "for general corporate purposes, including investments in streaming." The company relaunched its CBS All Access streaming service as Paramount+ earlier this month, announcing a slew of reboots, spinoffs and original series and films in the process.
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