New "STAR TREK" TV Series has been Announced

I mean, from a division of companies and rights, it's relative.  Take Discovery - characters like Spock, Pike, or a ship like the Enterprise are more or less part and parcel as intellectual property that could be owned and licensed. The same is true of Picard, et al.  It's akin to having different productions of, say, Sherlock Holmes.  In either of those instances, the source works are in the public domain and up for grabs for pretty much anyone to do pretty much anything with (with the possible exception of some of the later Holmes books that may still narrowly fall under copyright).  A good example would be the BBC series Sherlock and the CBS series Elementary, both of which went into production roughly around the same time.  Both shows created what would be considered a "derivative work".  That is, it's based on something else that already existed; while the basis, in this case, was something in the public domain, the substantial nuances that are unique to each iteration, where it's incorporating subtle differences between the source story and the new content, or something more overt, like making Watson a Woman or Sherlock a recovering addict, those changes are new form of intellectual property that falls under a new copyright. So even though Sherlock Holmes is, by and large, in the public domain; the studios or whomever owns a given iteration based on that work, has claims over that which makes it unique.
So in the case of Star Trek, Viacom had to license the television rights from CBS, in order to have the permission to use the intellectual property that comprise all of these different characters in the production of a new series.  However, at least in theory this would not extend to any kind of merchandising or anything that might have added value to the property.  CBS would own that too, and it makes some sense that dividing their stake in Star Trek merchandise would be no simple thing - you still want to get what's due to you for merchandise for all of the older properties that you still own; while your ex wants to create these new projects and get their beak wet too.  So how could Viacom get their side hustle with new Star Trek, without infringing on CBS' revenue?  By distinguishing the new from the old in some quantifiable way - like a completely different style of uniform during the TOS era than had ever previously been seen; or making subtle changes to the conventional uniforms we have seen; or other aesthetic liberties with other design schemes Viacom can put their rubber stamp on that says "mine".  
At least that's the speculation.  This wouldn't necessarily preclude the like of Patrick Stewart of Jeri Ryan from reprising their roles.  Any merchandise Viacom might have offered based on Star Trek: Picard may use Stewart's likeness for merchandise in the same way CBS would, but there again, it would have been the differences between the two properties - the style of costume or some other distinguishing characteristic, unique to the Viacom productions, that would have made it a product Viacom, rather than CBS, would have reaped the profits from. 

While not necessarily definitive, when I was watching Picard, I felt like the TNG movie era uniforms didn't look right.  To me they looked more like an approximation and of the quality closer to what you'd expect if they had been homemade costumes.  There was just something off about how they fit the actors.  It could just be me, or they just might not have put the necessary effort in to replicate the uniforms correctly; or they intentionally wanted to avoid making the costumes to close to something they didn't have merchandising rights to.  That last one is entirely supposition.

All that said, it's now a moot point, since the two companies have re-merged and the distinction of one or the other's properties really doesn't exist anymore, or may only exist now as a formality, depending on the nuances of their corporate structure.  But all of this came about after Picard finished production of Season 1; so what that means for Picard or STD moving forward remains to be seen.