Paramount Global reveals more layoffs, asset sales on the way
Paramount Global executives have warned of further job cuts as part of a $500 million cost-cutting plan to stem a “totally unacceptable” decline in the media giant’s profitability. About 500 employees learned of the tough plans, which also include revamping the Paramount+ streaming service and hiring bankers to sell unspecified assets, during an all-hands meeting […]
Paramount Deletes MTV News Website and Archives
Last May, the far-left MTV News was just one of many left-wing news outlets that were permanently shut down, lol. A year later, Paramount (the owners of MTV) went a step further and deleted the MTV News website and its archives. Wow. A bunch of ignorant people who have been writing and publishing shallow left-wing […]
Paramount+ to hike streaming prices, joining rivals — here’s how much plans will cost
Media giant Paramount Global said on Monday it will raise subscription fees for its flagship streaming service as it seeks to rebalance its business and pay down debt. The repricing comes at a time when merger talks between non-executive Chairman Shari Redstone and David Ellison’s Skydance Media to sell Redstone’s controlling stake in Paramount Global […]
Jon Stewart, Now with Paramount, Says His AppleTV+ Show Ended Because ‘Corporations Are P*ssies’
Jon Stewart was furious when his Apple TV+ show was cancelled after just two seasons, blaming it all on the company’s inherent flaws, but he’s returned to the company this election season to make himself relevant again. his town During the podcast, Stewart revealed his “aha moment” about the future of the Apple TV+ series. […]
Shari Redstone refusing to sell Paramount to Skydance is shocking after negotiations fell through
Perhaps the biggest sign that traditional media is on the front lines heading to the intensive care unit isn’t that Shari Redstone made the bizarre move and refused to sell her dwindling empire to a company called Skydance, after months of tough negotiations. No, many astute media people, including those involved in the negotiations, believe […]
Mario Gabelli legal threat affected doomed Paramount merger
Legal threats from investor Mario Gabelli were a “major factor” in the collapse this week of Shari Redstone’s $8 billion deal to merge Paramount Global with “Mission: Impossible” production partner Skydance Media, The Washington Post has learned. Redstone was facing a lawsuit from Gabelli for more than $100 million over the deal when she made […]
Paramount vows to focus on strategic plan after Shari Redstone ends deal talks
Paramount Global executives told employees on Wednesday the company would focus on a new plan to revamp its streaming business, cut costs and sell assets to pay down debt, according to an email seen by Reuters. The message came the day after Paramount’s controlling shareholder Shari Redstone decided to terminate deal negotiations with Skydance Media. […]
Shari Redstone kills Skydance bid for Paramount Global
Shari Redstone on Tuesday called off a deal to sell Paramount Global parent company National Amusements to Skydance Media amid months of soap opera drama over the media giant’s fate. According to the Wall Street Journal, the media heir turned down a $1.75 billion offer from the tech heir for a 77 percent stake. National […]
Edgar Bronfman Jr. eyes joining Paramount bidding war: report
Edgar Bronfman Jr., the billionaire who once ran Warner Music and liquor giant Seagram, reportedly expressed interest in buying the company that owns Paramount Global on Monday, adding a new twist to the media giant’s chaotic sale. Bronfman, backed by private equity firm Bain Capital, is considering a takeover bid of between $2 billion and […]
Shari Redstone receives fewest votes in Paramount board election
Paramount Global Inc. controlling shareholder Shari Redstone received the fewest votes of any other director in the company’s director elections, a filing showed on Friday. Redstone received 32.2 million votes for election to the board, the lowest number of any of the six candidates, but also received the most votes against him, more than 905,000. […]