Paramount Global to Cut 15 Percent of Its Workforce
Amid uncertainty about the future of the entertainment industry, Paramount Global is reportedly reducing its workforce by 15 percent in a new round of layoffs. The reported cuts aim to reduce Paramount’s spending by $500 million in 2025, and will be focused primarily on marketing, communications, legal and technology. Paramount Global co-CEO Chris McCarthy announced […]
Paramount Global to lay off 15% of its US staff
Mario Gabelli, chairman and CEO of Gamco Investors, talks sports investing and the surge in small-cap stocks on “The Claman Countdown.” Paramount Global will cut about 15% of its U.S.-based workforce, co-CEO Chris McCarthy said Thursday. The media company revealed plans for job cuts while reporting second-quarter earnings. For more information on FOX Business, click […]
Paramount slashing thousands of jobs, writes down value of cable networks by $6B
Paramount Global on Thursday said it would write down the value of its cable-networks business by about $6 billion and cut 15% of its workforce, even as its streaming business reported its first quarterly profit. Paramount shares rose more than 5% in after-hours trading. The impairment reflects declining viewership for cable networks such as Nickelodeon, […]
Sony says it won’t submit bid for Paramount
The president of Japanese PlayStation maker Sony said it would not make a new bid for Paramount Global, saying it “does not fit our strategy.” Sony’s chief operating officer and chief financial officer, Hiroki Toki, told investors during an earnings call on Wednesday that the company would not make a new proposal for the entertainment […]
Paramount Global receives competing bid of up to $43B from Apex Capital
Investment firm Apex Capital Trust said Wednesday it had submitted a competing proposal to acquire Paramount Global for up to $43 billion in an all-cash deal. Paramount has a 45-day “go-shop” period during which it can secure new deals following its merger deal with David Ellison’s Skydance Media. Paramount and National Amusements did not immediately […]
Ex-Warner Music chairman Edgar Bronfman Jr. still pursuing bid for Paramount despite Skydance deal: report
Former Warner Music Chairman Edgar Bronfman Jr. is in talks with bankers about a possible bid for Paramount Global’s parent company, National Amusements. Axios reported Tuesday, citing sources. David Ellison’s Skydance Media struck a deal to buy Paramount earlier this month that included a 45-day “negotiation period” to find better terms. If Paramount receives another […]
When Does The Next New Episode of ‘Yellowstone’ Debut on Peacock and Paramount Network?
There are still a few months left Yellowstone Now that it’s finally back on a TV near you, we want to recommend some shows that fans of Taylor Sheridan’s Westerns will love. Justification. This critically acclaimed crime drama, which aired on FX from 2010 to 2015, follows smooth-talking US Marshal Raylan Givens (played to perfection […]
Barry Diller hints IAC no longer in race for Paramount deal: report
Media mogul Barry Diller indicated Friday that his company, IAC, has withdrawn from the race to buy Paramount Global, CNBC reported Friday. “It’s hard to predict, but for us it’s over,” said the chairman and senior executive of the New York-based digital media conglomerate, which owns brands such as Dotdash Meredith, Care.com and The Daily […]
Paramount shareholder sues to block Shari Redstone’s deal with Skydance
Paramount Global investors have filed a lawsuit to block the merger with Skydance Media, arguing it would cost shareholders $1.65 billion, according to a lawsuit filed Wednesday in Delaware Chancery Court. David Ellison’s Skydance Media closed on a deal to buy Paramount in early July, ending months of discussion and speculation about the future of […]
When Does ‘Yellowstone’ Season 5, Part 2 Premiere on Paramount Network and Peacock?
If you miss Beth (Kelly Reilly), Lip (Cole Hauser) and the rest of your old gang… Yellowstoneyou are advised to go to the official show YouTube Page. of YellowstoneThe social media team has built a strong brand. “You don’t earn a brand. You live it,” he said in a recent video upload featuring a flashback […]