Paramount CEO Bob Bakish of layoffs amid takeover talks
Paramount Global CEO Bob Bakish said Thursday that the company will cut jobs in an effort to reduce spending and become a leaner company. Bakish said the entertainment industry faces a weak advertising market, the recent Hollywood double strike and a “volatile” macroeconomic environment as it transitions from traditional film and television to streaming. Ta. […]
Media heiress Shari Redstone receives preliminary offer for Paramount parent: report
Skydance Media CEO David Ellison has made a preliminary proposal to buy the Redstone family's holding company, National Amusements, as a way to take control of Paramount Global. Bloomberg News reported Wednesday. After Ellison, the son of Oracle founder Larry Ellison, assumed control, he discussed merging with Paramount and Skydance Media, the newspaper reported, citing […]
Paramount Global braces for hundreds of layoffs: report
Paramount Global is sharpening its ax in preparation for a wave of massive layoffs that could hit as many as 800 jobs, according to a new report. The debt-laden entertainment giant, which is up for sale, plans to begin cutting hundreds of jobs in February. Deadline reported Late Sunday. Here's the news Wall Street Journal […]
Paramount Set to Lay Off ‘Hundreds’ Across Nearly All Divisions in Latest Hollywood Bloodbath
Paramount Global, the parent company of CBS, Paramount Pictures, Showtime and numerous other media properties, reportedly plans to lay off “hundreds” of employees across nearly every division. The impending layoffs represent Hollywood's latest disaster, following layoffs at other companies including Disney, NBCUniversal, Amazon MGM Studios and Universal Music Group. Hollywood is feeling the squeeze on […]
Shari Redstone banker tied to Warren Buffett amid Paramount sale talks
Shari Redstone's investment banker has made some unusual moves as it explores a possible sale of its Paramount Media empire. And that's fueling even more gossip surrounding the high-profile trade negotiations. Last May, National Amusements, the holding company that controls 10% of the stock and 80% of the voting stock of Paramount Global, owner of […]