Amid Skydance Offer, Paramount Global CEO Trio Trumpet 14 Billion Dollar Brands, Plans To Explore Streaming Joint Ventures

deadline.com:

As Paramount Global controlling shareholder Shari Redstone mulls the terms of a merger between her conglom and Skydance, the network/studio/streaming service trotted out their best and brightest CEO troika this early AM in annual global stockholders meet to tout their hit parade of 14 billion dollar revenue earning franchises across all mediums, their assurance to cut $500 million in overhead, and maximize shareholder value and profits.

With Skydance’s David Ellison knocking on Paramount Global’s door with former NBCUniversal CEO Jeff Shell in tow to execute their own strategy, today’s presentation by Brian Robbins, President & CEO of Paramount Pictures and Nickelodeon; George Cheeks, President & CEO of CBS; and Chris McCarthy, President & CEO Showtime/MTV Entertainment Studios and Paramount Media Networks, was a bullhorn to shareholders that this administration has their stuff together, to prevent any possible nosediving of the stock currently, but also an underscoring that the trio have a keen sensibility when it comes to running a worldwide entertainment conglomerate.

It’s all about windowing, licensing content, and merchandising, one example being, as Robbins pointed out, how they took Teenage Mutant Ninja Turtles, a dormant IP they acquired back in 2009 and revived it last summer with a $180.5M global grossing animated movie which triggered $1 billion in retail sales.

Of course, the investment in streaming has taken major studios for a ride, Paramount Global alone getting hit with a $490M loss due to the sector in Q4, despite subs hitting 67.5M.