The sky must have been the limit for a young Harrison Ford sailing through Hollywood during the peak of his fame and popularity. But unlike the immortality of his legendary on-screen characters, the actor was very much bound to become a victim of his advancing age, and slowly recede into the backgrounds in favor of newer, fresher, and younger talents.
Harrison Ford in 1923 [Credit: Paramount Network]However, despite the volume of his achievements and the weight of his filmography, an actor of Ford’s caliber can hardly be done with trying to reach for higher limits as long as he breathes. Creativity runs through the blood of artists like the Star Wars veteran and just like Martin Scorsese and Steven Spielberg, he refuses to give up on working until he can no longer do so.
Harrison Ford’s Reason for Being in 1923 Might Be a Bit Sad
It is with the...
Harrison Ford in 1923 [Credit: Paramount Network]However, despite the volume of his achievements and the weight of his filmography, an actor of Ford’s caliber can hardly be done with trying to reach for higher limits as long as he breathes. Creativity runs through the blood of artists like the Star Wars veteran and just like Martin Scorsese and Steven Spielberg, he refuses to give up on working until he can no longer do so.
Harrison Ford’s Reason for Being in 1923 Might Be a Bit Sad
It is with the...
- 6/7/2024
- by Diya Majumdar
- FandomWire
Shares of Paramount Global edged lower Thursday, day three in the red, amid lingering uncertainty around Skydance’s latest offer. With bigger than anticipated sweeteners for Class B shareholders, it was approved by Par’s special board committee and sent on to controlling shareholder Shari Redstone but with no announcement forthcoming.
Redstone controls Paramount through family holding company Nai, which owns about 80% of the company’s Class A voting shares. She’s always had the last word and Skydance wasn’t necessarily going to be an immediate slam dunk. But Deadline also hears Redstone continues to explore two other options as well the Skydance offer that formally landed on her plate over the weekend.
One of the two is a bid from an investor group led by Steven Paul. Deadline hears there is one other interested party. Both of those proposals — they may not be formal offers yet — would only...
Redstone controls Paramount through family holding company Nai, which owns about 80% of the company’s Class A voting shares. She’s always had the last word and Skydance wasn’t necessarily going to be an immediate slam dunk. But Deadline also hears Redstone continues to explore two other options as well the Skydance offer that formally landed on her plate over the weekend.
One of the two is a bid from an investor group led by Steven Paul. Deadline hears there is one other interested party. Both of those proposals — they may not be formal offers yet — would only...
- 6/6/2024
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
Paramount Global has a strong future ahead of it and so does broadcast television, despite the uncertainty that has enveloped Hollywood in general and Paramount in particular. That was the message sent Thursday by CBS chief George Cheeks, who last month was also tapped as one of three CEOs to steer Paramount Global through a period that is sure to be challenging no matter what happens with the company.
Cheeks acknowledged the merger and sale activity that has swirled around Paramount Global for nearly nine months during his keynote address at Variety‘s FYC Fest daylong conference held at West Hollywood’s 1 Hotel. But he also emphazied that the tri-part Office of the CEO, consisting of Paramount Pictures chief Brian Robbins and cable head Chris McCarthy, that was established after the ouster of Paramount Global CEO Bob Bakish has a long-term plan for running the company if the much-discussed transaction...
Cheeks acknowledged the merger and sale activity that has swirled around Paramount Global for nearly nine months during his keynote address at Variety‘s FYC Fest daylong conference held at West Hollywood’s 1 Hotel. But he also emphazied that the tri-part Office of the CEO, consisting of Paramount Pictures chief Brian Robbins and cable head Chris McCarthy, that was established after the ouster of Paramount Global CEO Bob Bakish has a long-term plan for running the company if the much-discussed transaction...
- 6/6/2024
- by Cynthia Littleton
- Variety Film + TV
There are multiple offers on the table for Paramount, but the company’s three-headed ‘Office of the CEO’ has a plan if all the deals fall through.
Paramount Global is entering its seventh month of merger and acquisition discussions, and whether or not there is an end in sight remains a bit cloudy. In December, news first broke that the company had begun initial discussions with Warner Bros. Discovery about a potential combination of the two media conglomerates. Those talks came to naught, but more seriously interested parties have emerged to evaluate Paramount’s assets in the meantime. Earlier this week, the special committee established by Paramount to evaluate M&a opportunities approved a bid by Skydance Media and its owner David Ellison, but one of the company’s major shareholder has publicly expressed its disapproval of the deal. With all of the confusion over the company’s future, Paramount executives...
Paramount Global is entering its seventh month of merger and acquisition discussions, and whether or not there is an end in sight remains a bit cloudy. In December, news first broke that the company had begun initial discussions with Warner Bros. Discovery about a potential combination of the two media conglomerates. Those talks came to naught, but more seriously interested parties have emerged to evaluate Paramount’s assets in the meantime. Earlier this week, the special committee established by Paramount to evaluate M&a opportunities approved a bid by Skydance Media and its owner David Ellison, but one of the company’s major shareholder has publicly expressed its disapproval of the deal. With all of the confusion over the company’s future, Paramount executives...
- 6/6/2024
- by David Satin
- The Streamable
The three execs who lead Paramount Global’s “Office of the CEO” have called off their planned town hall meeting with employees that had been scheduled for Wednesday, June 5, citing “ongoing speculation regarding potential M&a.”
The trio — CBS CEO George Cheeks, Paramount CEO Brian Robbins and Chris McCarthy, CEO of Showtime/MTV Entertainment Studios — rescheduled the event for June 25. The move comes as Shari Redstone is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended and submitted for Redstone’s review over the weekend. Redstone is Paramount non-executive chair and the company’s controlling shareholder through National Amusements Inc.
“Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible,” the three executives wrote in a memo to employees. “By moving the date, our hope is to do just that.
The trio — CBS CEO George Cheeks, Paramount CEO Brian Robbins and Chris McCarthy, CEO of Showtime/MTV Entertainment Studios — rescheduled the event for June 25. The move comes as Shari Redstone is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended and submitted for Redstone’s review over the weekend. Redstone is Paramount non-executive chair and the company’s controlling shareholder through National Amusements Inc.
“Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible,” the three executives wrote in a memo to employees. “By moving the date, our hope is to do just that.
- 6/4/2024
- by Todd Spangler
- Variety Film + TV
A town hall for Paramount Global employees originally scheduled to take place Wednesday has been delayed until June 25.
In a note to employees obtained by Deadline, CEOs George Cheeks, Chris McCarthy and Brian Robbins recapped Tuesday morning’s annual shareholder meeting and also noted the rescheduling of the town hall. “Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible. By moving the date, our hope is to do just that,” they wrote.
The shift comes at a time that Paramount Global controlling shareholder, Shari Redstone, is mulling a merger offer from Skydance. The shareholder meeting largely skirted the topic of M&a, and instead gave Redstone a chance to make the case for the unorthodox Office of the CEO structure. She conceded it was unusual, but said it would harness the collective experience of three...
In a note to employees obtained by Deadline, CEOs George Cheeks, Chris McCarthy and Brian Robbins recapped Tuesday morning’s annual shareholder meeting and also noted the rescheduling of the town hall. “Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible. By moving the date, our hope is to do just that,” they wrote.
The shift comes at a time that Paramount Global controlling shareholder, Shari Redstone, is mulling a merger offer from Skydance. The shareholder meeting largely skirted the topic of M&a, and instead gave Redstone a chance to make the case for the unorthodox Office of the CEO structure. She conceded it was unusual, but said it would harness the collective experience of three...
- 6/4/2024
- by Anthony D'Alessandro and Dade Hayes
- Deadline Film + TV
Paramount Global needs to (further) reduce its staff size to compete in today’s cutthroat media landscape. Perhaps it could start by trimming a few CEOs.
After Bob Bakish was unceremoniously (but richly) exited from the company, Paramount went with an “Office of the CEO” setup, the trio of George Cheeks, Chris McCarthy, and Brian Robbins. Those three, with a lead-in from controlling shareholder Shari Redstone, ran Paramount Global’s 2024 Investor Day presentation — and a brief (and very rehearsed) Q&a — on Tuesday.
Redstone’s is the final signature required for Paramount to be merged with Skydance; a formal announcement is likely in the coming days. Until then, mum is the word on that pending deal — and Paramount Global must present to investors like the offer doesn’t exist.
Coincidentally, the three men have a three-part plan to turn around this Titanic (and maybe even tow its pieces back to...
After Bob Bakish was unceremoniously (but richly) exited from the company, Paramount went with an “Office of the CEO” setup, the trio of George Cheeks, Chris McCarthy, and Brian Robbins. Those three, with a lead-in from controlling shareholder Shari Redstone, ran Paramount Global’s 2024 Investor Day presentation — and a brief (and very rehearsed) Q&a — on Tuesday.
Redstone’s is the final signature required for Paramount to be merged with Skydance; a formal announcement is likely in the coming days. Until then, mum is the word on that pending deal — and Paramount Global must present to investors like the offer doesn’t exist.
Coincidentally, the three men have a three-part plan to turn around this Titanic (and maybe even tow its pieces back to...
- 6/4/2024
- by Tony Maglio
- Indiewire
Paramount Global’s new leadership team set out their strategic priorities for the company, including $500m in cost savings, selling non-core assets and exploring streaming joint ventures with other media companies.
The plan was presented at the company’s annual meeting of shareholders today (June 4) by its recently established Office of the CEO, which took over from Bob Bakish in April.
The Office of the CEO comprises: George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon.
The presentation...
The plan was presented at the company’s annual meeting of shareholders today (June 4) by its recently established Office of the CEO, which took over from Bob Bakish in April.
The Office of the CEO comprises: George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon.
The presentation...
- 6/4/2024
- ScreenDaily
Investors in Paramount Global are waiting for word on whether the latest merger offer from Skydance Media is a go. But they didn’t get any update at the media conglomerate’s awkwardly timed annual shareholders meeting Tuesday.
Shari Redstone, Paramount Global’s chair and controlling shareholder, in her introductory remarks at the virtual shareholders meeting, did not mention the pending Skydance offer. Instead, she touted the company’s content assets and leadership across CBS, Paramount Pictures and its cable networks — and turned the floor over to the three members of its “Office of the CEO,” who took over at the end of April for the ousted Bob Bakish: CBS’s George Cheeks, Paramount Pictures’ Brian Robbins and Chris McCarthy, head of Showtime/MTV Entertainment Studios.
“While we recognize this is not a traditional management structure,” Redstone said, the three-in-a-box leadership team is intended to help the company “take...
Shari Redstone, Paramount Global’s chair and controlling shareholder, in her introductory remarks at the virtual shareholders meeting, did not mention the pending Skydance offer. Instead, she touted the company’s content assets and leadership across CBS, Paramount Pictures and its cable networks — and turned the floor over to the three members of its “Office of the CEO,” who took over at the end of April for the ousted Bob Bakish: CBS’s George Cheeks, Paramount Pictures’ Brian Robbins and Chris McCarthy, head of Showtime/MTV Entertainment Studios.
“While we recognize this is not a traditional management structure,” Redstone said, the three-in-a-box leadership team is intended to help the company “take...
- 6/4/2024
- by Todd Spangler
- Variety Film + TV
Paramount Global Non-Exec Chair Shari Redstone Touts Office Of CEO During Annual Shareholder Meeting
Shari Redstone, Paramount Global’s non-executive chair and controlling shareholder, sought to sell shareholders at the company’s annual meeting Tuesday on the potential of the three-member Office of the CEO.
Convening a video presentation produced like a TV morning show, she delivered brief remarks before tossing to George Cheeks, Chris McCarthy and Brian Robbins. The three execs have formed the Office of the CEO since the ouster of Bob Bakish in April. Hovering over the event, though only briefly alluded to, is a pending merger proposal by Skydance Media, which will transform Paramount yet again if it is finalized.
“Reducing our costs to be consistent with industry standards” is a key strategic objective, Redstone said. “This will then enable us to decrease debt, strengthen our balance sheet and continue to invest in the best-in-class content that has always been at our core. And overall, it would allow us to...
Convening a video presentation produced like a TV morning show, she delivered brief remarks before tossing to George Cheeks, Chris McCarthy and Brian Robbins. The three execs have formed the Office of the CEO since the ouster of Bob Bakish in April. Hovering over the event, though only briefly alluded to, is a pending merger proposal by Skydance Media, which will transform Paramount yet again if it is finalized.
“Reducing our costs to be consistent with industry standards” is a key strategic objective, Redstone said. “This will then enable us to decrease debt, strengthen our balance sheet and continue to invest in the best-in-class content that has always been at our core. And overall, it would allow us to...
- 6/4/2024
- by Dade Hayes
- Deadline Film + TV
Paramount Global’s new trio of co-CEOs laid out their vision for the Hollywood studio as the controlling shareholder, Shari Redstone, mulls a sweetened takeover offer from a buyer consortium led by Skydance and RedBird Capital.
Redstone addressed the investors as the meeting began, indicating the company’s most important goal was “driving value for all our shareholders,” which would come by reducing overall debt to strengthen the balance sheet and continue to invest in “best-in-class content.”
Redstone also addressed the new leadership structure at the studio with three co-CEOs. “While we recognize that this is not a traditional management structure, we are confident that it will enable them to move quickly to implement best practices throughout the company to drive improved performance,” Redstone added.
This opened the way for the new trio of executives – George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios; and Brian Robbins,...
Redstone addressed the investors as the meeting began, indicating the company’s most important goal was “driving value for all our shareholders,” which would come by reducing overall debt to strengthen the balance sheet and continue to invest in “best-in-class content.”
Redstone also addressed the new leadership structure at the studio with three co-CEOs. “While we recognize that this is not a traditional management structure, we are confident that it will enable them to move quickly to implement best practices throughout the company to drive improved performance,” Redstone added.
This opened the way for the new trio of executives – George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios; and Brian Robbins,...
- 6/4/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Shari Redstone, whose National Amusements owns a controlling interest in Paramount Pictures parent Paramount Global, is reportedly weighing up a modified takeover offer of around $8bn from David Ellison’s Skydance Media and his backers RedBird Capital.
On the eve of Paramount Global’s annual general meeting on Tuesday, CNBC reported that the latest offer would see Redstone receive $2bn for National Amusements, while Skydance would pay $4.5bn to buy out half of Paramount Global Class B shareholders at $15 per share.
Skydance and RedBird have reportedly offered to pay $1.5bn in cash to reduce Paramount Global debt.
The overall deal...
On the eve of Paramount Global’s annual general meeting on Tuesday, CNBC reported that the latest offer would see Redstone receive $2bn for National Amusements, while Skydance would pay $4.5bn to buy out half of Paramount Global Class B shareholders at $15 per share.
Skydance and RedBird have reportedly offered to pay $1.5bn in cash to reduce Paramount Global debt.
The overall deal...
- 6/3/2024
- ScreenDaily
Paramount: Now (finally) Under New Ownership! A special committee at the company has approved a deal that will merge Paramount Global with Skydance after David Ellison acquires National Amusements, Inc. (Nai) for about $2 billion.
The National Amusements theater chain has a controlling interest in Paramount. Skydance Media CEO Ellison is paying for that control, and then he’ll make Paramount buy his production company.
All told, it is expected to cost Ellison and his financial backers at RedBird Capital Partners in the ballpark of $8 billion to make this happen, as first reported by CNBC’s David Faber. On top of Shari Redstone’s $2 billion for her family’s Nai, $4.5 billion more will go to current Paramount shareholders; another $1.5 billion in cash will be contributed to Paramount’s balance sheet. The numbers are pretty fresh and could still change some, a person with knowledge of the goings-on tells IndieWire.
The...
The National Amusements theater chain has a controlling interest in Paramount. Skydance Media CEO Ellison is paying for that control, and then he’ll make Paramount buy his production company.
All told, it is expected to cost Ellison and his financial backers at RedBird Capital Partners in the ballpark of $8 billion to make this happen, as first reported by CNBC’s David Faber. On top of Shari Redstone’s $2 billion for her family’s Nai, $4.5 billion more will go to current Paramount shareholders; another $1.5 billion in cash will be contributed to Paramount’s balance sheet. The numbers are pretty fresh and could still change some, a person with knowledge of the goings-on tells IndieWire.
The...
- 6/3/2024
- by Brian Welk and Tony Maglio
- Indiewire
It's (almost) official: Paramount Pictures is the latest Hollywood studio to merge with another major player in the business. After months of speculation, with multiple potential buyers entering the fold, it has been confirmed that Skydance Media, the producer of the "Mission: Impossible" franchise, will merge with the longstanding studio, per CNBC. The news comes just ahead of Paramount's annual shareholder meeting on Tuesday, June 4. It's expected that the deal will be formally announced by the company during the meeting.
Skydance RedBird Capital and investment firm Kkr partnered on the deal. It is valued at around $8 billion, which is far less than some other major media mergers in recent years. Disney's purchase of most of Fox's media assets, for example, cost a whopping $71.3 billion in 2019. Even Amazon's more recent purchase of MGM in 2022 was valued at $8.5 billion. But that speaks in large part to why this deal is happening.
Skydance RedBird Capital and investment firm Kkr partnered on the deal. It is valued at around $8 billion, which is far less than some other major media mergers in recent years. Disney's purchase of most of Fox's media assets, for example, cost a whopping $71.3 billion in 2019. Even Amazon's more recent purchase of MGM in 2022 was valued at $8.5 billion. But that speaks in large part to why this deal is happening.
- 6/3/2024
- by Ryan Scott
- Slash Film
Late last year, there were rumblings of a possible merger being considered with two movie studio giants — Warner Bros. and Paramount. It was reported that Zaslav met with Paramount Global CEO Bob Bakish in New York City to discuss a possible merger. The potential merger would bring many iconic entertainment franchises under one roof, including Star Trek, Harry Potter, Looney Tunes, Transformers, Mission: Impossible, DC, and more. It would also likely see the two streaming services — Max and Paramount+ — combine in order to more effectively challenge Netflix and Disney+.
Wall Street analysts were skeptical of that deal and knew that both companies would have to jump through significant hurdles in order for the deal to go through. That deal would ultimately fall through, but the New York Post is now reporting on a merger that has been sealed. Paramount and Skydance have just agreed to terms that will see both...
Wall Street analysts were skeptical of that deal and knew that both companies would have to jump through significant hurdles in order for the deal to go through. That deal would ultimately fall through, but the New York Post is now reporting on a merger that has been sealed. Paramount and Skydance have just agreed to terms that will see both...
- 6/3/2024
- by EJ Tangonan
- JoBlo.com
Updated with new timeline. Paramount Global and Skydance have agreed to terms on a merger, a person familiar with the deal talks has confirmed to Deadline, with Paramount controlling shareholder Shari Redstone taking a final look.
CNBC reported the stepped-up timeline earlier Monday. As Deadline and other media outlets reported over the weekend, a revised offer from Skydance had gained more traction, though it did not initially appear likely that anything would be firmed up before Tuesday’s annual shareholder meeting. That event was already set to be a significant one, with the three executives sharing the Office of the CEO laying out their strategic plans for the company.
Redstone, through National Amusements, controls 77% of the voting shares of Paramount.
Previously:
As Paramount Global approaches Tuesday’s annual shareholder meeting and a high-stakes town hall for employees the following day, new details are emerging about Skydance Media’s latest acquisition offer.
CNBC reported the stepped-up timeline earlier Monday. As Deadline and other media outlets reported over the weekend, a revised offer from Skydance had gained more traction, though it did not initially appear likely that anything would be firmed up before Tuesday’s annual shareholder meeting. That event was already set to be a significant one, with the three executives sharing the Office of the CEO laying out their strategic plans for the company.
Redstone, through National Amusements, controls 77% of the voting shares of Paramount.
Previously:
As Paramount Global approaches Tuesday’s annual shareholder meeting and a high-stakes town hall for employees the following day, new details are emerging about Skydance Media’s latest acquisition offer.
- 6/2/2024
- by Dade Hayes
- Deadline Film + TV
Paramount Global’s independent special committee agreed to recommend a revised offer from David Ellison’s Skydance Media, paving a way for the potential merger of his production company with the struggling media conglomerate, according to the Wall Street Journal and other media reports.
The decision, which follows months of negotiations, now puts the fate of the media conglomerate in the hands of controlling shareholder Shari Redstone.
Representatives for Paramount and Skydance declined to comment.
Under Skydance’s initial two-step plan, the company offered around $2 billion to acquire Redstone’s National Amusements, which owns 77% of Paramount’s class A voting stock and 5.2% of its class B common stock. The second step would then see Skydance merge with Paramount to create a combined company valued at around $5 billion.
An individual familiar with the plan previously told TheWrap that former NBCUniversal CEO Jeff Shell and Skydance’s chief creative officer Dana Goldberg...
The decision, which follows months of negotiations, now puts the fate of the media conglomerate in the hands of controlling shareholder Shari Redstone.
Representatives for Paramount and Skydance declined to comment.
Under Skydance’s initial two-step plan, the company offered around $2 billion to acquire Redstone’s National Amusements, which owns 77% of Paramount’s class A voting stock and 5.2% of its class B common stock. The second step would then see Skydance merge with Paramount to create a combined company valued at around $5 billion.
An individual familiar with the plan previously told TheWrap that former NBCUniversal CEO Jeff Shell and Skydance’s chief creative officer Dana Goldberg...
- 5/31/2024
- by Lucas Manfredi
- The Wrap
Skydance Media has submitted an improved offer for Paramount Global, according to reports.
The Wall Street Journal first reported on the new offer which comes with improved terms for both voting and non-voting Paramount shareholders, and provides more cash. No specific details were provided.
The offer is the latest in a protracted series of negotiations for Paramount Global, home to Paramount Pictures film studio, the CBS broadcast network and cable networks such as Nickelodeon and MTV.
Skydance is led by David Ellison, the son of Oracle co-founder Larry Ellison. In January, it made a preliminary offer to buy National Amusements,...
The Wall Street Journal first reported on the new offer which comes with improved terms for both voting and non-voting Paramount shareholders, and provides more cash. No specific details were provided.
The offer is the latest in a protracted series of negotiations for Paramount Global, home to Paramount Pictures film studio, the CBS broadcast network and cable networks such as Nickelodeon and MTV.
Skydance is led by David Ellison, the son of Oracle co-founder Larry Ellison. In January, it made a preliminary offer to buy National Amusements,...
- 5/31/2024
- ScreenDaily
Skydance and RedBird Capital are sweetening their takeover deal for Paramount Global.
A source confirms to The Hollywood Reporter that the investor group, which also includes Kkr, has made a revised offer to Paramount’s independent board committee reviewing deals.
While the specifics of the new offer were not immediately available, it is believed to sweeten the deal for Paramount’s Class B shareholders, many of which have expressed concern about the original offer. Paramount is effectively controlled by Shari Redstone and her National Amusements, which holds more than 70 percent of Class A voting shares.
Class B shareholders have expressed concern that they are not getting the same value out of the deal that Redstone is, with some threatening lawsuits if the company moves forward with the deal.
The original deal on the table would see the Skydance-RedBird consortium acquire National Amusements’ stake in Paramount at a premium (given their...
A source confirms to The Hollywood Reporter that the investor group, which also includes Kkr, has made a revised offer to Paramount’s independent board committee reviewing deals.
While the specifics of the new offer were not immediately available, it is believed to sweeten the deal for Paramount’s Class B shareholders, many of which have expressed concern about the original offer. Paramount is effectively controlled by Shari Redstone and her National Amusements, which holds more than 70 percent of Class A voting shares.
Class B shareholders have expressed concern that they are not getting the same value out of the deal that Redstone is, with some threatening lawsuits if the company moves forward with the deal.
The original deal on the table would see the Skydance-RedBird consortium acquire National Amusements’ stake in Paramount at a premium (given their...
- 5/30/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Warner Bros. Discovery CEO David Zaslav, who started talking about more deals shortly after inking a massive merger, irritating Wall Street, has been publicly quiet on that front for a bit. Today said he sees opportunities in M&a with the company on a stronger financial footing and rolling streamer Max out globally to achieve necessary scale.
Discovery’s acquisition of Warner Media generated significant debt which stood at about $50 billion at one point. Wbd has paid about $15 billion of that down, Zaslav said during a Q&a at Bernstein’s Strategic Decisions investor conference today. Free cash flow is stronger, streaming is (on-and-off) profitable “and we have a long-term plan.”
“Over the next two to three years, I expect that there’s going to be some opportunities. There will be some players that want to get out of the business. There will be others that will look to consolidate … And...
Discovery’s acquisition of Warner Media generated significant debt which stood at about $50 billion at one point. Wbd has paid about $15 billion of that down, Zaslav said during a Q&a at Bernstein’s Strategic Decisions investor conference today. Free cash flow is stronger, streaming is (on-and-off) profitable “and we have a long-term plan.”
“Over the next two to three years, I expect that there’s going to be some opportunities. There will be some players that want to get out of the business. There will be others that will look to consolidate … And...
- 5/30/2024
- by Jill Goldsmith
- Deadline Film + TV
Warner Bros. Discovery, just over two years after closing the merger of WarnerMedia and Discovery, will be “opportunistic” about seeking M&a deals in the next two or three years, president and CEO David Zaslav said.
“I think some companies will be for sale,” Zaslav said, speaking Thursday at the Bernstein 40th Annual Strategic Decisions Conference in New York. “We can be opportunistic but we’re going to be very disciplined.”
“I think there’s likely going to be some consolidation. There are a lot of players. There are a lot of players that are losing a lot of money,” Zaslav said. “One of the reasons why we really fought to drive our free cash flow and pay down our debt is to be in a position — as we roll out globally, as we fight to build our business — that we’re a healthy company.”
Speaking of losing money, Warner Bros.
“I think some companies will be for sale,” Zaslav said, speaking Thursday at the Bernstein 40th Annual Strategic Decisions Conference in New York. “We can be opportunistic but we’re going to be very disciplined.”
“I think there’s likely going to be some consolidation. There are a lot of players. There are a lot of players that are losing a lot of money,” Zaslav said. “One of the reasons why we really fought to drive our free cash flow and pay down our debt is to be in a position — as we roll out globally, as we fight to build our business — that we’re a healthy company.”
Speaking of losing money, Warner Bros.
- 5/30/2024
- by Todd Spangler
- Variety Film + TV
For nearly two weeks it’s been crickets when it comes to the push and pull between Skydance and Sony Pictures Entertainment/Apollo over Paramount Global.
However, making some noise during a Sony investor event tonight (tomorrow morning Tokyo time) was Sony Pictures Entertainment CEO Tony Vinciquerra. The chief executive presented business highlights and took some questions, as did the giant conglom’s other division heads.
Analysts didn’t ask about Sony’s desire for Paramount Global, nor did Vinciquerra spill any beans about the elephant in the room. But he did hint at something when asked on the call about investment strategy.
“We are looking for strategic investments … that complement our strategy. We are not going to go outside the strategy that has been enormously successful for us over the past several years,” he said. “We will not make investments that don’t complement our core strategy, and our...
However, making some noise during a Sony investor event tonight (tomorrow morning Tokyo time) was Sony Pictures Entertainment CEO Tony Vinciquerra. The chief executive presented business highlights and took some questions, as did the giant conglom’s other division heads.
Analysts didn’t ask about Sony’s desire for Paramount Global, nor did Vinciquerra spill any beans about the elephant in the room. But he did hint at something when asked on the call about investment strategy.
“We are looking for strategic investments … that complement our strategy. We are not going to go outside the strategy that has been enormously successful for us over the past several years,” he said. “We will not make investments that don’t complement our core strategy, and our...
- 5/30/2024
- by Anthony D'Alessandro and Jill Goldsmith
- Deadline Film + TV
In a highly anticipated announcement, Paramount Global and Charter Communications said they’re extending their longstanding partnership with a multi-year distribution agreement for Paramount’s full portfolio of linear cable networks, CBS owned-and-operated broadcast stations and direct-to-consumer streaming services.
In addition to CBS, subscribers to Charter’s Spectrum will keep BET, Comedy Central, MTV, Nickelodeon, and Paramount Network, as well as premium service Paramount+ with Showtime.
In a new twist that echoes Charter’s landmark deal with Disney last year, the agreement calls for the ad-supported versions of Paramount’s direct-to-consumer services, Paramount+ Essential and BET+ Essential to be included at no additional cost to Charter’s Spectrum TV customers. Charter also will make Paramount’s direct-to-consumer products available for purchase to its Internet-only customers.
But unlike the Disney pact, Charter is not dropping any cable networks. Its Disney deal eliminated Baby TV, Disney Junior, Disney Xd, Freeform, Fxm, Fxx,...
In addition to CBS, subscribers to Charter’s Spectrum will keep BET, Comedy Central, MTV, Nickelodeon, and Paramount Network, as well as premium service Paramount+ with Showtime.
In a new twist that echoes Charter’s landmark deal with Disney last year, the agreement calls for the ad-supported versions of Paramount’s direct-to-consumer services, Paramount+ Essential and BET+ Essential to be included at no additional cost to Charter’s Spectrum TV customers. Charter also will make Paramount’s direct-to-consumer products available for purchase to its Internet-only customers.
But unlike the Disney pact, Charter is not dropping any cable networks. Its Disney deal eliminated Baby TV, Disney Junior, Disney Xd, Freeform, Fxm, Fxx,...
- 5/23/2024
- by Jill Goldsmith
- Deadline Film + TV
At a critical moment for the entertainment company, Paramount Global and cable TV giant Charter Communications have a deal.
Paramount, which owns CBS, Paramount+, MTV, Comedy Central, BET, Nickelodeon and other brands, has cut a multi-year deal with Charter that will keep its networks available for Charter customers, and make the Paramount+ “Essential” tier available to Charter’s TV subscribers free of charge, as well as BET+ Essential.
Later this year, Paramount+ Essential and BET+ Essential will become available across Spectrum TV Select packages and Mi Plan Latino customers through the Xumo Stream Box or any other Paramount+ supported device. The company will also offer users the chance to upgrade to the Paramount+ with Showtime plan.
Charter has also agreed to market Paramount’s direct-to-consumer products to its Internet-only customers to purchase at retail rates, with Charter receiving revenue share for new paid subscriptions and ad-free upgrades.
The Paramount+ with...
Paramount, which owns CBS, Paramount+, MTV, Comedy Central, BET, Nickelodeon and other brands, has cut a multi-year deal with Charter that will keep its networks available for Charter customers, and make the Paramount+ “Essential” tier available to Charter’s TV subscribers free of charge, as well as BET+ Essential.
Later this year, Paramount+ Essential and BET+ Essential will become available across Spectrum TV Select packages and Mi Plan Latino customers through the Xumo Stream Box or any other Paramount+ supported device. The company will also offer users the chance to upgrade to the Paramount+ with Showtime plan.
Charter has also agreed to market Paramount’s direct-to-consumer products to its Internet-only customers to purchase at retail rates, with Charter receiving revenue share for new paid subscriptions and ad-free upgrades.
The Paramount+ with...
- 5/23/2024
- by Alex Weprin and Caitlin Huston
- The Hollywood Reporter - Movie News
Troubled Hollywood conglomerate Paramount Global is scaling back its wide-ranging partnership with Korean entertainment leader Cj Enm, Variety has learned.
The deal was initially struck in December 2021 (when Paramount Global was called ViacomCBS) and was described at the time as “a global content deal encompassing coproductions for original TV shows and films as well as content licensing and distribution across the companies’ streaming services.”
The Paramount+ streaming service, currently housed within the Cj Enm-controlled Tving streaming platform, is to become unavailable from June 19, Tving has informed subscribers. Paramount+ began operating on Tving, as a free-of-charge addition for existing subscribers, in June 2022.
“Tving and Paramount+ have decided not to renew their partnership,” a Paramount Global spokesperson confirmed to Variety.
“In line with our respective business strategies, we have decided together to end the ‘Paramount+ Branded Pavilion’ service on June 18th. Going forward, Tving will strive to secure various businesses to increase user satisfaction,...
The deal was initially struck in December 2021 (when Paramount Global was called ViacomCBS) and was described at the time as “a global content deal encompassing coproductions for original TV shows and films as well as content licensing and distribution across the companies’ streaming services.”
The Paramount+ streaming service, currently housed within the Cj Enm-controlled Tving streaming platform, is to become unavailable from June 19, Tving has informed subscribers. Paramount+ began operating on Tving, as a free-of-charge addition for existing subscribers, in June 2022.
“Tving and Paramount+ have decided not to renew their partnership,” a Paramount Global spokesperson confirmed to Variety.
“In line with our respective business strategies, we have decided together to end the ‘Paramount+ Branded Pavilion’ service on June 18th. Going forward, Tving will strive to secure various businesses to increase user satisfaction,...
- 5/22/2024
- by Patrick Frater and Todd Spangler
- Variety Film + TV
After over a year hiatus, Yellowstone Season 5 Part 2 has begun production in Montana, as earlier promised and then revealed by Paramount Network Monday. The Western drama series approaches its close with the final episodes predicted to land in November later this year.
Four and a half seasons of the Taylor Sheridan series have followed the Dutton Family, led by patriarch Kevin Costner’s John Dutton, who oversees the largest cattle ranch in the modern-day United States. The Dutton family faces constant challenges from those at its borders — the growing Bozeman, Montana, the fictional Indian reservation of Broken Rock and America’s first national park.
With several prequel series and a contemporary spinoff in the works, the original installment was originally set to conclude at the end of 2023, but the WGA and SAG strikes delayed production on the final episodes.
Read on for what we know about Yellowstone Season 5 Part II:...
Four and a half seasons of the Taylor Sheridan series have followed the Dutton Family, led by patriarch Kevin Costner’s John Dutton, who oversees the largest cattle ranch in the modern-day United States. The Dutton family faces constant challenges from those at its borders — the growing Bozeman, Montana, the fictional Indian reservation of Broken Rock and America’s first national park.
With several prequel series and a contemporary spinoff in the works, the original installment was originally set to conclude at the end of 2023, but the WGA and SAG strikes delayed production on the final episodes.
Read on for what we know about Yellowstone Season 5 Part II:...
- 5/20/2024
- by Dessi Gomez
- Deadline Film + TV
The longer the Paramount sale process drags out, the less likely it appears any major transactions surrounding the company will take place.
The merger and acquisition talks surrounding Paramount Global continue, but the company’s options are beginning to narrow. The first company to make a meaningful pursuit of Paramount was David Ellison’s Skydance, and when the two sides entered an exclusive negotiating period in April, many observers thought a deal was just a matter of time. During that window, Sony teamed up with the private equity firm Apollo Global Management to craft a $26 billion all-cash bid, in case Paramount and Skydance’s talks came to naught. Since the exclusive window with Skydance has lapsed, Paramount’s board has been considering the Sony/Apollo offer and, a new report from Bloomberg, it appears that things are moving forward as the two sides have signed a non-disclosure agreement. However, there...
The merger and acquisition talks surrounding Paramount Global continue, but the company’s options are beginning to narrow. The first company to make a meaningful pursuit of Paramount was David Ellison’s Skydance, and when the two sides entered an exclusive negotiating period in April, many observers thought a deal was just a matter of time. During that window, Sony teamed up with the private equity firm Apollo Global Management to craft a $26 billion all-cash bid, in case Paramount and Skydance’s talks came to naught. Since the exclusive window with Skydance has lapsed, Paramount’s board has been considering the Sony/Apollo offer and, a new report from Bloomberg, it appears that things are moving forward as the two sides have signed a non-disclosure agreement. However, there...
- 5/20/2024
- by David Satin
- The Streamable
There is no easy way to say it but Taylor Sheridan is a certifiable genius – the kind whose inventions do not draw ecstatic gasps or thunderous applause from the crowd but rather incite blasphemous outcries and send shockwaves powerful enough to disrupt the status quo of civilized society.
As such, Sheridan singlehandedly has the ability to stop the conveyor belt of studio production lineups or get them churning with a stroke of his pen and there arenʼt many people within the industry who hold that scale of authority or power over one studioʼs entire creative and bureaucratic system.
Taylor Sheridan [Photo: Fort Worth Magazine]In one such situation (that proved the magnitude of his authority over his intellectual properties), Taylor Sheridan once shut down Paramountʼs demand to deliver an extension of his story despite the studio greenlighting Season 2 and ironically, the execs themselves coming up with storylines, plot points, and narratives to justify the arc for another season.
As such, Sheridan singlehandedly has the ability to stop the conveyor belt of studio production lineups or get them churning with a stroke of his pen and there arenʼt many people within the industry who hold that scale of authority or power over one studioʼs entire creative and bureaucratic system.
Taylor Sheridan [Photo: Fort Worth Magazine]In one such situation (that proved the magnitude of his authority over his intellectual properties), Taylor Sheridan once shut down Paramountʼs demand to deliver an extension of his story despite the studio greenlighting Season 2 and ironically, the execs themselves coming up with storylines, plot points, and narratives to justify the arc for another season.
- 5/18/2024
- by Diya Majumdar
- FandomWire
Julia Phelps, Paramount Global’s executive VP and chief communications and corporate marketing officer, is exiting after almost 20 years with the company and predecessor Viacom.
Phelps had long worked with Bob Bakish, who was ousted as CEO of the company last month and replaced by a three-exec committee. Phelps, in a memo to her team Friday that was obtained by Variety, said she will leave Paramount at the end of May. (Read the full memo below.)
According to Phelps’ memo, the company’s marketing and communications group for the time being will report into Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon. Robbins is one of the troika of execs in the company’s “Office of the CEO,” alongside George Cheeks, president and CEO of CBS, and Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks.
The senior management changes at Paramount Global come...
Phelps had long worked with Bob Bakish, who was ousted as CEO of the company last month and replaced by a three-exec committee. Phelps, in a memo to her team Friday that was obtained by Variety, said she will leave Paramount at the end of May. (Read the full memo below.)
According to Phelps’ memo, the company’s marketing and communications group for the time being will report into Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon. Robbins is one of the troika of execs in the company’s “Office of the CEO,” alongside George Cheeks, president and CEO of CBS, and Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks.
The senior management changes at Paramount Global come...
- 5/17/2024
- by Todd Spangler
- Variety Film + TV
Paramount Global top communications veteran Julia Phelps, who most recently served as executive vp, chief communications and corporate marketing officer of the entertainment conglomerate, will be leaving the company at the end of the month.
The departure of Phelps, who has been known as a strategic and collaborative executive, comes after the exit of CEO Bob Bakish, who was replaced by an Office of the CEO, and at a time when the future of Paramount remains in industry focus. The sector giant, controlled by Shari Redstone’s National Amusements, has been in talks about a potential sale to David Ellison’s Skydance Media, as well as Sony with Apollo Global Management.
Phelps served in increasingly senior roles at Paramount Global, previously known as ViacomCBS, and its predecessors. She rose to a top communications role at Viacom, which merged with CBS Corp. in late 2019. She oversaw Paramount’s communications team through the Viacom-CBS merger,...
The departure of Phelps, who has been known as a strategic and collaborative executive, comes after the exit of CEO Bob Bakish, who was replaced by an Office of the CEO, and at a time when the future of Paramount remains in industry focus. The sector giant, controlled by Shari Redstone’s National Amusements, has been in talks about a potential sale to David Ellison’s Skydance Media, as well as Sony with Apollo Global Management.
Phelps served in increasingly senior roles at Paramount Global, previously known as ViacomCBS, and its predecessors. She rose to a top communications role at Viacom, which merged with CBS Corp. in late 2019. She oversaw Paramount’s communications team through the Viacom-CBS merger,...
- 5/17/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
Even prolific creators like Taylor Sheridan have to answer to their studios, and sometimes, a small miscommunication can lead to massive problems. Once upon a time, this happened with 1883, the famous Yellowstone prequel: Sheridan intended it to be a one-season gig but the studio didn’t, so the creator was forced to “somehow find a way” to make Season 2 possible.
Sheridan Was Forced to Make 1883 Season 2
The thing about communication is that both sides need to clearly signal their intentions. This clearly didn’t happen when Sheridan was working on 1883: he intended it to be a one-off mini-series, and the studio wanted several seasons. Imagine their surprise when nearly everyone died in the Season 1 finale!
“I know they read the scripts, but they don’t read [into] scripts… [Paramount CEO] Bob Bakish watched [1883 S1 finale] and said, ‘Wait a minute, she dies! They all die? What do we do in Season 2?’ I said,...
Sheridan Was Forced to Make 1883 Season 2
The thing about communication is that both sides need to clearly signal their intentions. This clearly didn’t happen when Sheridan was working on 1883: he intended it to be a one-off mini-series, and the studio wanted several seasons. Imagine their surprise when nearly everyone died in the Season 1 finale!
“I know they read the scripts, but they don’t read [into] scripts… [Paramount CEO] Bob Bakish watched [1883 S1 finale] and said, ‘Wait a minute, she dies! They all die? What do we do in Season 2?’ I said,...
- 5/14/2024
- by dean-black@startefacts.com (Dean Black)
- STartefacts.com
Shares of Paramount Global slid Tuesday following a CNBC report that Sony was “rethinking” its bid to acquire Paramount in conjunction with private-equity firm Apollo Global Management.
Earlier this month, Sony Pictures Entertainment and Apollo sent a nonbinding offer to Paramount Global’s board offering to take Paramount private for $26 billion in cash, a price tag that would include the assumption of debt. Paramount Global’s stock dropped more than 5% after CNBC’s David Faber reported Tuesday that “the likelihood of a bid [by Sony and Apollo] at least for the full company seems to be fading a bit.”
“There has not been an NDA signed by Sony [with Paramount Global] at this point, a nondisclosure agreement that you would typically sign so you can begin real due diligence,” Faber said on CNBC’s “Power Lunch.”
Sony Group’s stock price dropped last week and “that may have given them some pause, not to mention, of course…...
Earlier this month, Sony Pictures Entertainment and Apollo sent a nonbinding offer to Paramount Global’s board offering to take Paramount private for $26 billion in cash, a price tag that would include the assumption of debt. Paramount Global’s stock dropped more than 5% after CNBC’s David Faber reported Tuesday that “the likelihood of a bid [by Sony and Apollo] at least for the full company seems to be fading a bit.”
“There has not been an NDA signed by Sony [with Paramount Global] at this point, a nondisclosure agreement that you would typically sign so you can begin real due diligence,” Faber said on CNBC’s “Power Lunch.”
Sony Group’s stock price dropped last week and “that may have given them some pause, not to mention, of course…...
- 5/14/2024
- by Todd Spangler
- Variety Film + TV
Shari Redstone strolled onto the red carpet in New York City tonight for the premiere of Paramount Pictures If, John Krasinski’ star-studded PG adventure that opens this weekend. She was there to support studio chief Brian Robbins.
As of April, the executive (who also oversees Nickelodeon) is also one of three members of a new Office of the CEO. The premiere hits as Redstone, Paramount Global’s controlling shareholder and non-executive board chair, is in the midst of trying to sell the company but finding a deal complicated. She did no interviews outside the Sva Theatre in Chelsea, but chatted and stood for photographs with Robbins, Krasinski (who also stars) and talent from Ryan Reynolds to Matt Damon.
Redstone also attended the world premiere of Top Gun: Maverick two years agoi in May of 2022 aboard the USS Midway in San Diego.
A special committee of Paramount’s board talked exclusively...
As of April, the executive (who also oversees Nickelodeon) is also one of three members of a new Office of the CEO. The premiere hits as Redstone, Paramount Global’s controlling shareholder and non-executive board chair, is in the midst of trying to sell the company but finding a deal complicated. She did no interviews outside the Sva Theatre in Chelsea, but chatted and stood for photographs with Robbins, Krasinski (who also stars) and talent from Ryan Reynolds to Matt Damon.
Redstone also attended the world premiere of Top Gun: Maverick two years agoi in May of 2022 aboard the USS Midway in San Diego.
A special committee of Paramount’s board talked exclusively...
- 5/14/2024
- by Jill Goldsmith
- Deadline Film + TV
Whether playing Di Kate Fleming in Line of Duty or a back-against-the-wall bomb disposal expert in ITV’s Trigger Point, Vicky McClure has mastered the art of procedurals over the years.
But in Paramount+ series Insomnia from The Crown producer Left Bank, in which she plays a career woman, Emma, who experiences a breakdown when she suddenly stops being able to sleep, the actor-producer bucked the trend.
“I feel like I’ve grown up, I’m 40 now,” McClure told an Insomnia Q&a in London late last month. “There’s a lot of procedural drama that I do and I enjoy it, but I was excited to step into something that felt different.” McClure added that she quite enjoyed walking in heels for the entirety of the series, for example.
McClure’s challenge was made trickier by the fact she has never suffered from insomnia – although “just a bad night...
But in Paramount+ series Insomnia from The Crown producer Left Bank, in which she plays a career woman, Emma, who experiences a breakdown when she suddenly stops being able to sleep, the actor-producer bucked the trend.
“I feel like I’ve grown up, I’m 40 now,” McClure told an Insomnia Q&a in London late last month. “There’s a lot of procedural drama that I do and I enjoy it, but I was excited to step into something that felt different.” McClure added that she quite enjoyed walking in heels for the entirety of the series, for example.
McClure’s challenge was made trickier by the fact she has never suffered from insomnia – although “just a bad night...
- 5/13/2024
- by Hannah Abraham
- Deadline Film + TV
Taylor Sheridan’s dedication to authenticity is unmatched, and he proved just how far he was willing to go for his art during the filming of a scene for his Yellowstone prequel series titled 1883. He actually risked a lot for this 2021 miniseries starring Sam Elliott & Tim McGraw to capture a pivotal scene, adding an unparalleled layer of authenticity to the gripping tale.
A still from Yellowstone, directed by Taylor Sheridan
The genius behind the cultural phenomenon of Yellowstone has not only given us a riveting portrayal of the Dutton family’s legacy, with coming attractions like the sequel show tentatively named 2024 but also two enthralling prequels—1883 and 1923.
Earlier this year, in an appearance on the Joe Rogan Experience, Sheridan shared some fascinating insights into the real history of the Wild West in the late 1800s that served as the inspiration for 1883.
From History Books to Screens: Taylor Sheridan’s Journey...
A still from Yellowstone, directed by Taylor Sheridan
The genius behind the cultural phenomenon of Yellowstone has not only given us a riveting portrayal of the Dutton family’s legacy, with coming attractions like the sequel show tentatively named 2024 but also two enthralling prequels—1883 and 1923.
Earlier this year, in an appearance on the Joe Rogan Experience, Sheridan shared some fascinating insights into the real history of the Wild West in the late 1800s that served as the inspiration for 1883.
From History Books to Screens: Taylor Sheridan’s Journey...
- 5/13/2024
- by Siddhika Prajapati
- FandomWire
Paramount+ has been at the center of several bundle discussions, but it’s not the only streamer that could benefit from combining with others.
One of streaming’s longest-standing taboos has finally been broken. Disney and Warner Bros. Discovery are taking their collaboration on a joint venture sports streaming service one step further, and announced this week that they would bring their subscription video-on-demand (SVOD) services Disney+, Hulu, and Max together in a cross-company bundle, the first in streaming’s history to be offered to all consumers. Now that Disney and Wbd have crossed this particular Rubicon, the experts at The Streamable are examining what other potential streaming partnerships have already been discussed between companies, as well as some that they should be talking about.
Key Details: Paramount+ has been at the heart of several bundle discussions in the past year. Fox CEO Lachlan Murdoch said this week that the...
One of streaming’s longest-standing taboos has finally been broken. Disney and Warner Bros. Discovery are taking their collaboration on a joint venture sports streaming service one step further, and announced this week that they would bring their subscription video-on-demand (SVOD) services Disney+, Hulu, and Max together in a cross-company bundle, the first in streaming’s history to be offered to all consumers. Now that Disney and Wbd have crossed this particular Rubicon, the experts at The Streamable are examining what other potential streaming partnerships have already been discussed between companies, as well as some that they should be talking about.
Key Details: Paramount+ has been at the heart of several bundle discussions in the past year. Fox CEO Lachlan Murdoch said this week that the...
- 5/9/2024
- by David Satin
- The Streamable
Paramount Plus with Showtime offered live access to March Madness games on CBS. Paramount Plus and CBS could be sold off by Sony and Apollo if their acquisition of Paramount Global is approved. (Graphic by The Desk)
Sony and Apollo Global Management intend to sell of Paramount Global’s linear broadcast and television networks if its offer to acquire the company is approved, according to a report.
On Wednesday, the New York Times said Sony and Apollo would “auction off” the CBS broadcast network and co-owned cable channels like MTV, VH1, Nickelodeon, TV Land, CMT and BET if Paramount’s board and shareholders approve its $26 billion takeover offer.
The report said Sony and Apollo are likely to keep the famed Paramount Pictures studio and Paramount’s intellectual content, including shows like “Spongebob Squarepants,” “Paw Patrol,” “Star Trek” and “Mission: Impossible.” But it would sell off Paramount Plus with Showtime, the...
Sony and Apollo Global Management intend to sell of Paramount Global’s linear broadcast and television networks if its offer to acquire the company is approved, according to a report.
On Wednesday, the New York Times said Sony and Apollo would “auction off” the CBS broadcast network and co-owned cable channels like MTV, VH1, Nickelodeon, TV Land, CMT and BET if Paramount’s board and shareholders approve its $26 billion takeover offer.
The report said Sony and Apollo are likely to keep the famed Paramount Pictures studio and Paramount’s intellectual content, including shows like “Spongebob Squarepants,” “Paw Patrol,” “Star Trek” and “Mission: Impossible.” But it would sell off Paramount Plus with Showtime, the...
- 5/9/2024
- by Matthew Keys
- The Desk
Amazon UK MD Chris Bird was among the latest group of industry execs to appear in front of the UK’s British Film & High-End TV Inquiry this afternoon, during which he revealed how much cash the streamer has invested in content from UK broadcasters for the first time.
“We have spent more than $400 million licensing, co-producing, and co-commissioning content from the UK Public Service Broadcasters,” Bird said. “Not only to make bigger and better shows but we’ve also helped produce everything from Steve McQueen’s Small Axe and Phoebe Waller-Bridge’s Fleabag to the recently announced second and third seasons of The Night Manager with the BBC.”
Deadline was first to break news of The Night Manager returning with Tom Hiddleston signed on to star.
Prime Video doesn’t only help produce these hits but also distributes them to territories across the globe, Bird added. “Outside of America, British...
“We have spent more than $400 million licensing, co-producing, and co-commissioning content from the UK Public Service Broadcasters,” Bird said. “Not only to make bigger and better shows but we’ve also helped produce everything from Steve McQueen’s Small Axe and Phoebe Waller-Bridge’s Fleabag to the recently announced second and third seasons of The Night Manager with the BBC.”
Deadline was first to break news of The Night Manager returning with Tom Hiddleston signed on to star.
Prime Video doesn’t only help produce these hits but also distributes them to territories across the globe, Bird added. “Outside of America, British...
- 5/8/2024
- by Zac Ntim
- Deadline Film + TV
There’s a new, scary reality sinking in for both Paramount shareholders and its board of directors: What if nobody buys Paramount?
Not much more than a week ago it felt like a foregone conclusion that David Ellison would buy out Shari Redstone’s controlling stake in Paramount Global for a few billion bucks, and force Paramount to buy his Skydance for a few billion more bucks than that. That’s what Redstone wanted to happen at least, and what Redstone wants she’s pretty well set up to get. She has the shares to force whatever outcome she wants and stop whatever one she doesn’t.
But there was another suitor who could no longer be ignored.
Apollo Global Management, a private-equity fund, has been knocking on Redstone’s door for months. It’s pounding now. At first, Apollo offered $11 billion to buy out Paramount’s studio. No way,...
Not much more than a week ago it felt like a foregone conclusion that David Ellison would buy out Shari Redstone’s controlling stake in Paramount Global for a few billion bucks, and force Paramount to buy his Skydance for a few billion more bucks than that. That’s what Redstone wanted to happen at least, and what Redstone wants she’s pretty well set up to get. She has the shares to force whatever outcome she wants and stop whatever one she doesn’t.
But there was another suitor who could no longer be ignored.
Apollo Global Management, a private-equity fund, has been knocking on Redstone’s door for months. It’s pounding now. At first, Apollo offered $11 billion to buy out Paramount’s studio. No way,...
- 5/7/2024
- by Tony Maglio and Brian Welk
- Indiewire
Massachusetts Senator Elizabeth Warren didn’t mince any words. “CEO pay is out of control,” she posted on April 22, singling out Warner Bros. Discovery CEO David Zaslav, whose team has had a rocky road integrating two companies since the mega-merger that created the Hollywood conglomerate, dealing with a high debt load and shoring up profits. Zaslav “made $49.7 million last year, +26% from 2022 — despite layoffs, box office bombs, a lagging stock price,” Warren wrote on X. “Meanwhile, WB workers had to strike for higher pay.”
The latest annual executive pay disclosure season, which is now wrapped up, is unlikely to change the views of critics like Warren. Hollywood CEOs struggled with a plethora of challenges in 2023 — from the dual writers’ and actors’ strikes, cord-cutting, and a soft advertising market to a battle for streaming profits and M&a chatter, with the remedy often being layoffs, cost reductions and cutbacks in spending. One thing...
The latest annual executive pay disclosure season, which is now wrapped up, is unlikely to change the views of critics like Warren. Hollywood CEOs struggled with a plethora of challenges in 2023 — from the dual writers’ and actors’ strikes, cord-cutting, and a soft advertising market to a battle for streaming profits and M&a chatter, with the remedy often being layoffs, cost reductions and cutbacks in spending. One thing...
- 5/7/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
Warner Bros. Discovery chief David Zaslav largely evaded questions about NBA talks and Paramount Global’s potential as a Wbd merger partner, but he did weigh in on the hot topic of executive pay.
“All CEOs need to be paid with alignment with shareholders,” he declared. In 2023, a year when his company’s stock price hovered around $10 a share, less than half of its value when it began trading in 2022, Zaslav collected a total payday of $49.7 million, up more than $10 million from the prior year.
The comments came during a Milken Conference panel titled “The Corporate Compass: Charting the Role of the CEO.” Zaslav appeared alongside three other chief executives: Ey’s Carmine Di Sibio, Time magazine’s Jessica Sibley and FedEx’s Raj Subramaniam.
Throughout his nearly two decades in the corner office, Zaslav has often become enmeshed in controversy over executive compensation. In 2021, the year when he spearheaded...
“All CEOs need to be paid with alignment with shareholders,” he declared. In 2023, a year when his company’s stock price hovered around $10 a share, less than half of its value when it began trading in 2022, Zaslav collected a total payday of $49.7 million, up more than $10 million from the prior year.
The comments came during a Milken Conference panel titled “The Corporate Compass: Charting the Role of the CEO.” Zaslav appeared alongside three other chief executives: Ey’s Carmine Di Sibio, Time magazine’s Jessica Sibley and FedEx’s Raj Subramaniam.
Throughout his nearly two decades in the corner office, Zaslav has often become enmeshed in controversy over executive compensation. In 2021, the year when he spearheaded...
- 5/6/2024
- by Dade Hayes
- Deadline Film + TV
Warner Bros. Discovery is staying on the sidelines of the Paramount Global acquisition drama — at least for now. That was the signal sent Monday by WB Discovery CEO David Zaslav during his appearance at the Milken Institute Global Conference in Beverly Hills.
Zaslav was pressed during the hourlong panel about the status of WB Discovery’s bid to extend its TV rights agreement with the NBA, and he was pointedly asked to defend the high levels of compensation for media CEOs, including himself. Zaslav came in for criticism last week when his 2023 comp package of about $49 million was disclosed after a year in which Wbd’s stock price sank by double digits.
“I think all CEOs need to be paid with alignment with shareholders,” Zaslav said. “And the majority of compensation should be aligned with the performance of the stock. And if the stock does well, then the CEO should...
Zaslav was pressed during the hourlong panel about the status of WB Discovery’s bid to extend its TV rights agreement with the NBA, and he was pointedly asked to defend the high levels of compensation for media CEOs, including himself. Zaslav came in for criticism last week when his 2023 comp package of about $49 million was disclosed after a year in which Wbd’s stock price sank by double digits.
“I think all CEOs need to be paid with alignment with shareholders,” Zaslav said. “And the majority of compensation should be aligned with the performance of the stock. And if the stock does well, then the CEO should...
- 5/6/2024
- by Cynthia Littleton
- Variety Film + TV
If no deal for the sale or merger of Paramount Global comes to fruition, talks of a combination of Paramount+ with Peacock could revive.
The saga of Paramount’s ownership future has had more twists and turns than a Hollywood blockbuster. The narrative took a new direction this weekend, as Paramount’s exclusive negotiating window with David Ellison and his production house Skydance Media ended on May 3 without a deal being struck. Despite initially not initially appearing interested, Paramount is now considering an offer from Sony and Apollo Global Management, and various reports indicate that the media conglomerate hasn’t ruled out doing business with Skydance either. But the probability that Paramount will not find a merger and acquisition partner in the current business environment is rising, and if that happens, the company’s controlling shareholder Shari Redstone will have to determine what comes next for the legacy media outlet.
The saga of Paramount’s ownership future has had more twists and turns than a Hollywood blockbuster. The narrative took a new direction this weekend, as Paramount’s exclusive negotiating window with David Ellison and his production house Skydance Media ended on May 3 without a deal being struck. Despite initially not initially appearing interested, Paramount is now considering an offer from Sony and Apollo Global Management, and various reports indicate that the media conglomerate hasn’t ruled out doing business with Skydance either. But the probability that Paramount will not find a merger and acquisition partner in the current business environment is rising, and if that happens, the company’s controlling shareholder Shari Redstone will have to determine what comes next for the legacy media outlet.
- 5/6/2024
- by David Satin
- The Streamable
Paramount Advertising President John Halley was preparing to preside over an upfront pitch to Publicis, one of the four major holding companies in the ad business, when big news crossed the wire.
Bob Bakish was officially out as CEO of Paramount Global. Much of the reason that the 27-year company veteran lost favor with board members and controlling shareholder Shari Redstone had to do with intensifying merger talks, which have also kept Paramount in the headlines. A couple of hours before the Publicis dinner, Paramount capped its newsy day by conducting a 9-minute earnings call and declining to field any questions from Wall Street analysts.
“It’s not my favorite backdrop,” Halley dryly conceded in an interview with Deadline. “I thought, ‘Is this going to derail our messaging?’ And we got into the room and it was very clear immediately that that was background and not foreground. We acknowledged it,...
Bob Bakish was officially out as CEO of Paramount Global. Much of the reason that the 27-year company veteran lost favor with board members and controlling shareholder Shari Redstone had to do with intensifying merger talks, which have also kept Paramount in the headlines. A couple of hours before the Publicis dinner, Paramount capped its newsy day by conducting a 9-minute earnings call and declining to field any questions from Wall Street analysts.
“It’s not my favorite backdrop,” Halley dryly conceded in an interview with Deadline. “I thought, ‘Is this going to derail our messaging?’ And we got into the room and it was very clear immediately that that was background and not foreground. We acknowledged it,...
- 5/6/2024
- by Dade Hayes
- Deadline Film + TV
Taylor Sheridan is one of those masterminds of masterminds, wracking his brain down to the core to find out the next best storyline for his Yellowstone universe and all the spin-offs attached to it. Not only has he delivered some of the most epic tales through all of his projects, but he has also set multiple records and won many star-studded accolades for the same.
Taylor Sheridan in Yellowstone.
However, the genius was pretty much at his wits’ end the studios quite literally made an impossible demand for one of his most famous spin-offs, 1883. But what’s worth commending is that, despite knowing that fulfilling this demand was close to impossible, Sheridan still managed to find a solution to it by bringing the next classic spin-off in line to life, 1923.
Taylor Sheridan Had to Fulfill This Impossible Demand for 1883
[Warning: This article contains major spoilers related to 1883‘s series finale ahead. Don’t read further than this if you haven’t watched the series yet but are planning to watch it.]
As the fans who have watched the Isabel May-starrer series must already know,...
Taylor Sheridan in Yellowstone.
However, the genius was pretty much at his wits’ end the studios quite literally made an impossible demand for one of his most famous spin-offs, 1883. But what’s worth commending is that, despite knowing that fulfilling this demand was close to impossible, Sheridan still managed to find a solution to it by bringing the next classic spin-off in line to life, 1923.
Taylor Sheridan Had to Fulfill This Impossible Demand for 1883
[Warning: This article contains major spoilers related to 1883‘s series finale ahead. Don’t read further than this if you haven’t watched the series yet but are planning to watch it.]
As the fans who have watched the Isabel May-starrer series must already know,...
- 5/6/2024
- by Mahin Sultan
- FandomWire
Paramount Global has reportedly begun talks with Sony Pictures and private equity firm Apollo after the exclusive 30-day negotiating window with David Ellison’s Skydance Media expired on Friday.
Sony and Apollo are said to have put a $26bn cash offer on the table for the consideration of Shari Redstone, whose family owns Paramount Global controlling shareholder National Amusements, and a special committee.
Redstone has the power to veto any deal and was said to favour Skydance, whose CEO Ellison has long been a co-financing partner for Paramount on hits like the Mission: Impossible franchise and Top Gun: Maverick and...
Sony and Apollo are said to have put a $26bn cash offer on the table for the consideration of Shari Redstone, whose family owns Paramount Global controlling shareholder National Amusements, and a special committee.
Redstone has the power to veto any deal and was said to favour Skydance, whose CEO Ellison has long been a co-financing partner for Paramount on hits like the Mission: Impossible franchise and Top Gun: Maverick and...
- 5/6/2024
- ScreenDaily
Paramount Global goes back to playing the field this week with two suitors still pursuing the company that has been surrounded by a highly public M&a drama for months. And it’s unlikely to end any time soon.
The company reached the end of its 30-day exclusive negotiating window with Skydance Media on May 3 without coming to an agreement. Sony Pictures Entertainment and Apollo Global Management, meanwhile, are moving forward with a $26 billion all-cash offer that raises regulatory and political concerns in this election-year environment. The special committee of Paramount Global’s board of directors that has been handling the M&a negotiations now intends to proceed with discussions with both the Skydance and Sony/Apollo groups, as reported Sunday by the New York Times and confirmed by multiple sources.
That decision leaves Skydance CEO David Ellison and his backers, which include Gerry Cardinale’s RedBird Capital, with a...
The company reached the end of its 30-day exclusive negotiating window with Skydance Media on May 3 without coming to an agreement. Sony Pictures Entertainment and Apollo Global Management, meanwhile, are moving forward with a $26 billion all-cash offer that raises regulatory and political concerns in this election-year environment. The special committee of Paramount Global’s board of directors that has been handling the M&a negotiations now intends to proceed with discussions with both the Skydance and Sony/Apollo groups, as reported Sunday by the New York Times and confirmed by multiple sources.
That decision leaves Skydance CEO David Ellison and his backers, which include Gerry Cardinale’s RedBird Capital, with a...
- 5/5/2024
- by Cynthia Littleton
- Variety Film + TV
A special committee of Paramount’s board of directors decided over the weekend to formally open negotiations with Sony Pictures Entertainment and private equity group Apollo Global Management, an individual with knowledge told TheWrap. The decision follows an exclusive negotiation period between Paramount and Skydance ending Friday with no deal made.
A spokesperson for the special committee declined to comment.
Sony Pictures stepped into the race by making a joint informal offer with private equity firm Apollo Global Management of $26 billion, all cash, for Paramount. When it comes to Skydance, it received the public backing Sunday of two big names: director James Cameron and Endeavor CEO Ari Emanuel, who voiced their support for David Ellison’s Skydance acquiring Paramount in an interview with the Financial Times.
The committee also pushed for further negotiations with Skydance. The exclusive negotiating window closing with no deal and not being extended doesn’t mean...
A spokesperson for the special committee declined to comment.
Sony Pictures stepped into the race by making a joint informal offer with private equity firm Apollo Global Management of $26 billion, all cash, for Paramount. When it comes to Skydance, it received the public backing Sunday of two big names: director James Cameron and Endeavor CEO Ari Emanuel, who voiced their support for David Ellison’s Skydance acquiring Paramount in an interview with the Financial Times.
The committee also pushed for further negotiations with Skydance. The exclusive negotiating window closing with no deal and not being extended doesn’t mean...
- 5/5/2024
- by Mike Roe, Sharon Waxman
- The Wrap
Updated with Paramount’s board decision to begin new negotiations: A special committee of the Paramount Global board decided at a meeting yesterday to begin talking with Sony and Apollo following the expiration of a month-long negotiating window with Skydance on Friday night.
The committee met over the weekend to consider its approach to the preliminary $26 billion cash bid, including the assumption of debt, made jointly by the entertainment giant and global private equity film.
But the David Ellison studio is still in the mix as Paramount seeks to continue those talks – just non-exclusive, obviously, Deadline has learned.
That’s a deal that won’t have any regulatory issues in closing, and is the one that Par’s controlling shareholder Shari Restone prefers.
Paramount shareholders hate the Skydance deal, just as much of Hollywood detests the idea of Paramount and Sony merging – a combination that would need to pass regulatory scrutiny.
The committee met over the weekend to consider its approach to the preliminary $26 billion cash bid, including the assumption of debt, made jointly by the entertainment giant and global private equity film.
But the David Ellison studio is still in the mix as Paramount seeks to continue those talks – just non-exclusive, obviously, Deadline has learned.
That’s a deal that won’t have any regulatory issues in closing, and is the one that Par’s controlling shareholder Shari Restone prefers.
Paramount shareholders hate the Skydance deal, just as much of Hollywood detests the idea of Paramount and Sony merging – a combination that would need to pass regulatory scrutiny.
- 5/5/2024
- by Jill Goldsmith
- Deadline Film + TV
Both James Cameron and Ari Emanuel offered their support this weekend of Skydance’s bid to acquire Paramount.
Though reports earlier this week suggested that Paramount’s special board committee was leaning against accepting Skydance’s offer, Cameron and Emanuel told The Financial Times on Sunday that they supported Skydance founder David Ellison’s potential leadership.
The deal, first offered during a 30-day exclusive negotiating window at the beginning of April, would see Skydance, joined by financial partners RedBird Capital and Kkir, acquire controlling shareholder Shari Redstone’s stake in the company and then merge Skydance into Paramount, keeping it as a publicly traded company, with new leadership at the helm.
“I love the Ellison idea,” Cameron, whose 1997 film Titanic remains one of Paramount’s most successful movies, said. “If he gets . . . to run Paramount creatively, it could be a huge boon for this business in these ailing times. David’s proven himself.
Though reports earlier this week suggested that Paramount’s special board committee was leaning against accepting Skydance’s offer, Cameron and Emanuel told The Financial Times on Sunday that they supported Skydance founder David Ellison’s potential leadership.
The deal, first offered during a 30-day exclusive negotiating window at the beginning of April, would see Skydance, joined by financial partners RedBird Capital and Kkir, acquire controlling shareholder Shari Redstone’s stake in the company and then merge Skydance into Paramount, keeping it as a publicly traded company, with new leadership at the helm.
“I love the Ellison idea,” Cameron, whose 1997 film Titanic remains one of Paramount’s most successful movies, said. “If he gets . . . to run Paramount creatively, it could be a huge boon for this business in these ailing times. David’s proven himself.
- 5/5/2024
- by Zoe G Phillips
- The Hollywood Reporter - Movie News
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