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variety.com

06.04.2024 / 04:05

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Paramount Global’s Cable Carriage Talks with Charter Could Play Key Role in Skydance Transaction

Cynthia Littleton Business Editor Charter Communications is about to play a guest-star role in the corporate drama surrounding Paramount Global. As if Shari Redstone’s media empire wasn’t under enough pressure, Paramount Global now is in the final few weeks of its most recent carriage agreement with Charter, the nation’s second largest cable operator behind Comcast. The two companies are in renewal discussions, the outcome of which will have significant influence on Paramount’s ability to deliver the free cash flow that media investors are expecting from the company that has lately posted big losses on streaming operations.

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Paramount Global Stock Surges As Skydance Looks To Seal Deal – Update

UPDATED with stock price: Shares of Paramount Global jumped more than 15% Wednesday afternoon with Skydance chief David Ellison in pole position to clinch a majority stake of National Amusements.

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What Could Happen If Paramount Global Is Sold — Especially in Pieces

Jennifer Maas TV Business Writer What does the future hold for Paramount Global? The odds of a seismic M&A event seem to be increasing: Private-equity firm Apollo Global has reportedly offered $11 billion for Paramount’s Hollywood studios. Short of carving up the “mountain of entertainment,” as the Paramount+ tagline boasts, analysts say the overture could drive up bidding for the entirety of Paramount Global — which is what Shari Redstone, who owns a controlling stake in the media conglomerate, is understood to prefer. Given that backdrop, let’s consider what Paramount Global comprises — and the potential effect of selling it off in its entirety or in pieces.

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Apollo Global Offers $11 Billion to Buy Paramount Pictures: Report

Todd Spangler NY Digital Editor Apollo Global Management, a major private-equity firm, has submitted an $11 billion bid to acquire Paramount Pictures, according to a published report. The Wall Street Journal, citing anonymous sources, reported that Apollo Global offered $11 billion for Paramount Global’s film and TV studio business. That would apparently not include CBS, Paramount Global’s cable networks or the streaming business that includes Paramount+ and Pluto TV.

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Paramount Global Sells Stake In Viacom18 To India’s Reliance For $500 Million

Paramount Global has sold its 13% equity interest in Viacom18 Media to Indian conglomerate Reliance Industries for the equivalent $517 million.

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Paramount+ Greenlights ‘The Crow Girl’ From Buccaneer Media After The Same Producer’s ‘The Doll Factory’ Was Ditched By The Platform

Paramount+ may have culled a raft of international originals last month but UK commissioning appears to be continuing apace.

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Paramount Will Be “Diligent” Exploring Alternatives, CFO Promises, As Management Focused On Turnaround

Paramount Global chief financial officer Naveen Chopra said management is chipping away at debt, cutting costs, heading towards streaming profitability and otherwise “focused on execution” but won’t ignore other opportunities to create value for shareholders.

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Planned Disney-Fox-WBD Bundle “Only Has A Subset Of Sports”, Paramount CEO Bob Bakish Says: “It’s Hard To Believe That’s Ideal”

Paramount Global CEO Bob Bakish derided a planned streaming venture backed by Disney, Fox Corp. and Warner Bros. Discovery for having “only a subset of sports.”

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Paramount+ Greenlights UK Thriller Series Set In World Where Men Live Under Strict Nightly Curfew

Paramount+ may have culled a wealth of international originals in the past couple of weeks but that hasn’t stopped it committing to a UK thriller series set in a world where men live under a strict nightly curfew.

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Paramount Global’s Lisa Kramer On New Paramount+ Branded Hub In Africa & The Changing World Of TV Distribution – London TV Screenings

EXCLUSIVE: The news when Deadline speaks to Lisa Kramer is the launch of a Paramount+ branded hub with African pay-TV giant MultiChoice. But a conversation with the President, International TV Licensing at Paramount Global Content Distribution (PGCD), offers a much wider insight into the world of TV in 2024.

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CBS News Lays Off 20 Amid Paramount Global’s Companywide Cuts; Catherine Herridge And Jeff Pegues Among Those Impacted

UPDATED: The companywide layoffs at Paramount Global on Tuesday impacted about 20 employees at CBS News, including correspondents Catherine Herridge and Jeff Pegues, several sources said.

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Paramount Layoffs Hit 20 CBS News Staffers

Brian Steinberg Senior TV Editor Approximately 20 CBS News staffers were given termination notices Tuesday as a result of broader layoffs taking place across Paramount Global. The cuts extended across CBS News operations in Washington, D.C., New York and Los Angeles, according to two people familiar with the matter, and included two of the news operation’s most prominent correspondents, Jeff Pegues and Catherine Herridge, these people said. A CBS News spokesperson did not respond immediately to a query seeking comment.

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Paramount Global Laying Off 800 Employees as CEO Bakish Cites Need to Cut Costs

Todd Spangler NY Digital Editor Paramount Global, amid a swirl of M&A discussions, is laying off about 800 employees worldwide — an estimated 3% of its headcount — as it looks to trim costs. CEO Bob Bakish announced the layoffs in a memo Tuesday to staff that was obtained by Variety. According to the memo, U.S.

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Paramount’s Maria Kyriacou Exiting As International Originals Strategy Slimmed Down

Maria Kyriacou, Paramount Global‘s President, Broadcast & Studios, International Markets, is exiting the U.S. studio after four years, as it prepares to slim down its international originals offering.

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‘Wolf Pack’ Canceled After One Season At Paramount+

Wolf Pack, starring Sarah Michelle Gellar, will not return to Paramount+ for a second season.

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Paramount Global CEO Calls for Staffers to Focus on Business ‘Execution’ as Acquisition Speculation Swirls, Skydance Media Talks Accelerate

Brian Steinberg Senior TV Editor The CEO of Paramount Global urged staffers at the entertainment conglomerate to focus on their 2024 business goals, even as a handful of industry heavy hitters and investment firms explore a potential acquisition of the company and speculation about looming layoffs intensifies. In a memo issued to employees Thursday and reviewed by Variety, Bob Bakish acknowledged that Paramount’s future “remains a topic of speculation,” a nod to the fact that a group of investors led by Skydance founder David Ellison have engaged in talks with Paramount’s controlling shareholder, Shari Redstone.

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Layoffs Coming At Paramount Global But No Details In Bob Bakish Memo On 2024 Strategy; CEO Acknowledges M&A Speculation

Paramount Global CEO Bob Bakish said today the company will continue to reduce its global workforce “to operate as a leaner company and spend less.” But there were no further details in a memo to staff obtained by Deadline following a “Bob Live” town hall today.