The ViacomCBS logo is displayed on the Nasdaq MarketSite to celebrate the company’s merger, in New York, December 5, 2019.
Brendan McDermid | Reuters
(This story is for CNBC Pro subscribers only.)
Hedge fund manager Dan Niles told CNBC on Friday he is buying shares of ViacomCBS, saying he likes its potential to generate returns better than Disney.
Niles, founding partner at AlphaOne Capital Partners, noted the recent reorganization inside Disney as the ESPN parent makes digital streaming its “primary focus.” The announcement Monday sent Disney’s stock up big in after-hours trading, although it has given back some of those gains during the rest of the week.
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