Old media veterans defy critics to rally in streaming era 16 Mar, 2021 10:36 PM 4 minutes to read 'Raya and the Last Dragon' was streamed on Disney Plus as well as being released in cinemas. Photo / Disney+ Financial Times By: Anna Nicolaou and Alex Barker ViacomCBS and Discovery, decades-old television companies dismissed by some investors as too slow and small in the online streaming era, have staged a spectacular rally over the past year. Shares in ViacomCBS have soared more than 600 per cent from a year ago giving the group a market capitalisation of US$60 billion ($83.3b), while Discovery's stock has risen more than 250 per cent giving it a market cap of US$32b.