Paramount Global shares drop after annual meeting as hopes of merger with Skydance fade
Paramount Global executives revealed plans to cut costs and find a streaming service partner, but shares fell nearly 5% on Tuesday after hopes of a merger with Skydance Media faded. Paramount controlling shareholder Shari Redstone regaled investors at the company’s annual meeting on Tuesday morning about an aggressive $500 million cost-cutting plan that her three […]
Paramount shares drop as top execs unveil $500M cost-cutting plan
Paramount Global shares fell on Tuesday after its chief executives announced a major restructuring plan that included $500 million in annual cost cuts. The company’s future remains uncertain amid talks of a possible merger with Skydance Media. The executives — CBS President and CEO George Cheeks, Showtime/MTV Entertainment Studios President and CEO Chris McCarthy and […]
Paramount, Skydance $8 billion deal near: reports
FOX Business’ Charlie Gasparino appears on “The Craman Countdown” to discuss the feud between Paramount CEO Bob Bakish and Skydance over the “messy” merger. Paramount Global is finalizing the details of its $8 billion acquisition by Skydance Media, according to multiple reports. FOX Business’ Charlie Gasparino reports. It was reported last week that Skydance and […]
Paramount, Skydance agree to terms on $8B merger deal: report
Paramount Global and Skydance have reportedly agreed to terms for a merger between the two entertainment companies that is valued at $8 billion. Skydance, the media company founded by David Ellison, has agreed to pay $2 billion for Paramount’s parent company National Amusements (controlled by majority shareholder Shari Redstone) under a proposal made by Paramount’s […]
Skydance reportedly sweetens offer for Paramount Global
Skydance Media made an attractive offer to Paramount Global, according to a person familiar with the matter. The new deal offers better terms and more cash for both Paramount shareholders, according to the sources, who asked not to be identified discussing the matter. Specific details of the proposal could not immediately be determined. David Ellison’s […]
Nobody knows what Paramount chair Shari Redstone wants to do with conglomerate
Remember Byron Allen? You know, the loquacious media executive who infuriated Paramount’s shareholders by saying he wanted to buy Paramount from Shari Redstone for a whopping $30 billion. Paramount’s market cap of just under $10 billion reflects the melting ice on most of its programming, so it sounded like a pretty good deal. Well, no […]
Apollo-Sony bid for Paramount could face antitrust hurdles from feds: sources
Apollo Global Management and Sony’s proposed takeover of Paramount Global Inc. faces significant hurdles in passing through Democratic-led federal regulators amid antitrust concerns, the company learned. Paramount, which closed exclusive merger talks with Skydance Media last Friday, owns the CBS network, its Hollywood studios and 28 local stations, including 17 CBS affiliates in markets such […]
Paramount won’t extend exclusive deal period with Skydance: sources
Paramount Global is closing its deal with Skydance Media as it awaits a response from Sony Pictures Entertainment and private equity firm Apollo Global Management to its proposal to buy the entertainment giant for $26 billion, according to people familiar with the matter. It is unlikely that a contract will be reached after 30 days […]
Paramount Global receives $26B offer from Sony, Apollo amid Skydance talks
Sony Pictures and private equity firm Apollo Global Management have expressed interest in buying Paramount Global for $26 billion, according to people familiar with the matter. Sony would be the largest shareholder and Apollo would hold a minority stake, said the people, who requested anonymity because details of the deal have not been made public. […]
Paramount CEO Bob Bakish expected to resign: reports
Paramount Global CEO Bob Bakish is expected to resign on Monday amid controversial merger talks with Skydance Media and ahead of the company’s quarterly results later that afternoon. ing. Mr. Bakish has clashed with Paramount’s controlling shareholder, Shari Redstone, who said the CEO was “not fully aware of the company’s strategic opportunities,” including the possible […]