George Clooney compares Paramount to a ‘mom-and-pop’ shop
Actor George Clooney likened Paramount, the entertainment studio set to be sold for $8 billion in a major entertainment industry merger, to a “mom and pop” store. Clooney recently GQ In an interview, I asked him about the circumstances surrounding the sale and whether he was interested in the outcome of it, given that it […]
Media exec Bronfman pulls out of race to acquire Paramount
Media industry veteran Edgar Bronfman Jr. announced on Monday that he has withdrawn from the race to take control of Paramount Global. Bronfman’s bid relied on the participation of wealthy individuals who were reluctant to share their personal financial information with Paramount’s special committee and its advisers, people familiar with the matter told Reuters. The […]
Paramount stock edges up as Bronfman reportedly mulls increasing bid again
Paramount shares rose after falling on Monday on speculation that Edgar Bronfman Jr. might raise an already attractive offer to win the bidding battle for the embattled media giant. The veteran media executive reportedly increased his bid for minority stakes in National Amusements and Paramount Global to $6 billion from an initial $4.3 billion last […]
Edgar Bronfman’s Paramount bid could keep Shari Redstone involved: report
Edgar Bronfman Jr. is open to Shari Redstone staying involved with Paramount Global if Paramount Global’s special committee accepts his consortium’s takeover bid for controlling shareholder National Amusements. CNBC reported: Friday. On Wednesday, the veteran media executive upped his bid to buy Paramount by offering National Amusements $6 billion and a minority stake in the […]
David Ellison’s Skydance demands Paramount stop talks with Edgar Bronfman
Skydance Media has accused Paramount Global’s special board committee of violating the terms of the deal by extending the period during which it could negotiate with other bidders, The Wall Street Journal reported Thursday. This comes after veteran media executive Edgar Bronfman Jr. made a favorable takeover bid for Paramount in exchange for $6 billion […]
Edgar Bronfman sweetens bid for Paramount to $6B: report
Veteran media executive Edgar Bronfman is biding $6 billion to buy National Amusements Inc. and will also buy a minority stake in Paramount Global, the people said. He had previously offered $4.3 billion, according to Reuters. Paramount shares rose more than 2.3% after the close. A competing bid for the home of Paramount Pictures, the […]
Edgar Bronfman Jr to make Paramount bid days before Skydance merger
Alcohol-industry heir Edgar Bronfman Jr. is reportedly preparing to buy Paramount Global, less than a week before its $8 billion merger with Skydance Media becomes official. Bronfman, an entertainment mogul and son of the late Seagram CEO Edgar Bronfman Sr., is in talks with potential investors to back a takeover bid for National Amusements, the […]
Paramount TV Shutting Down, Laying Off Thousands Amid Industry Upheaval
Paramount Global said on Tuesday it would close its television studios and lay off thousands of employees amid an uncertain future for the industry. The company announced that it will close Paramount Television Studios later this week, with president Nicole Clemens saying in a memo to staff on Tuesday morning that industry-wide changes are having […]
Paramount TV Studios to shut down as Shari Redstone-led media giant begins slashing 2K jobs ahead of likely Skydance merger
Paramount Television Studios will be closed as part of a broader cost-cutting effort ahead of parent company Paramount Global’s merger with Skydance Media, company executives said. The entertainment giant’s three co-chief executives announced the closure of the studio, known for producing shows such as “The Offer,” “Reacher” and “13 Reasons Why,” and began major layoffs […]
Shari Redstone’s estranged niece to make $140M from Paramount sale as part of trust from grandpa Sumner: sources
In a powerful media family torn apart by jealousy and rivalry, the aging patriarch publicly deteriorates as his granddaughter rushes to his side. Lies, betrayal, lawsuits. These aren’t the machinations of the fictional Roy family in “Succession,” but dramas involving the very real Redstone family, whose dysfunction is well-documented and partially inspired the critically acclaimed […]