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  "docSlug": "3544dfcc3316",
  "documentTitle": "Viacom (VIAB)",
  "authorId": "18_SpringOwl",
  "authorName": "Eric Jackson",
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  "presentationDate": "2016-01-13 00:00:00",
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  "notes": "The slide uses a specific valuation argument based on EV/EBITDA multiples to justify the change in leadership.",
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      "text": "If all aspects of our value creation plan are implemented by the company, we believe that Viacom's common shares may trade at between $65-95.90/share or up to 135% above current levels.",
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      "text": "It's Time For a New Chair to Lead Viacom\nSumner Redstone Should Step Down As He's Been An Absent Chair for too Long\nHis Replacement Should be a Strong Independent Voice Qualified With a Strong Background in Both Media and Digital/Technology\nThe Difference Between CBS and an average of Disney and Time Warner is the Difference Between Companies With Good Management and Ones With No Controlling Shareholder\nCBS' EV/EBITDA Multiple is 10.0x vs. a Disney/Time Warner average of 9.7x\nThe Potential Re-rate for Removing the Controlling Shareholder as Chair – Applied to Viacom's EBITDA Stream Could be an Additional $2.5B in Market Cap or Approximately $7/Share",
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      "text": "Market Cap: $2.5B",
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      "text": "Note: 1. As of 12/30/2015\nSource: SpringOwl Asset Management LLC",
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      "text": "Step 1: New Viacom Chair",
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