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deadline.com

28.04.2024 / 00:51

Bob Bakish To Step Down As Paramount Global CEO Amid Skydance Talks

Paramount Global is set to announce as early as Monday morning that Bob Bakish is stepping down as CEO amid talks with Skydance and ahead of the company’s quarterly earnings that afternoon.

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variety.com

27.04.2024 / 20:53

Bob Bakish Out as Paramount Global CEO

Cynthia Littleton Business Editor Amid the M&A drama enveloping Paramount Global, Bob Bakish is about to step down as CEO after eight years at the helm of Shari Redstone’s media empire. Bakish is expected to resign under pressure as early as Monday.

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deadline.com

26.04.2024 / 20:35

Paramount’s Bob Bakish Could Be Bounced As CEO As Skydance Talks Continue – Report

Board members at Paramount Global are reportedly considering the removal of CEO Bob Bakish as discussions continue with Skydance Media about a complex, multi-step merger.

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variety.com

26.04.2024 / 20:19

Paramount Board Might Oust CEO Bob Bakish Amid M&A Talks: Report

Todd Spangler NY Digital Editor Bob Bakish may be out at Paramount Global before any sale or merger deal for the media company is completed. The board of directors of Paramount Global, including controlling shareholder Shari Redstone, have discussed a plan to oust Bakish as CEO, the Wall Street Journal reported, citing anonymous sources. Instead, the company would form an “Office of the CEO” comprising Paramount Global’s division heads to run operations on an interim basis, per the report.

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deadline.com

26.04.2024 / 00:33

Skydance Still In Pole Position For Paramount As Two Hash Out Terms; Sony & Apollo Waiting In The Wings

Skydance and Paramount are deep into hashing out a complicated deal that would see the David Ellison’s studio and its backers take control of the storied film and television company owned by Shari Redstone. The exclusive month-long negotiating period through May 3 is likely to be extended perhaps by a few weeks, Deadline hears, given the complexity of the transaction.

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deadline.com

23.04.2024 / 10:16

Paramount Global CEO Bob Bakish’s 2023 Pay Totals $31.3M, Down Slightly From Prior Year

Paramount Global CEO Bob Bakish saw his total compensation dip slightly in 2023, to $31.3 million from $32 million in the prior year.

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deadline.com

20.04.2024 / 07:48

Paramount Shares Leap As Investors Cheer Sony-Apollo Scenario

Paramount Global shares jumped 13% Friday as investors cheered news that Sony Pictures Entertainment is talking with Apollo Global Management about joining Apollo’s bid for Paramount.

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deadline.com

18.04.2024 / 00:13

Les Moonves Settles With City Of LA Over Ex-CBS Boss'”Misuse” Of 2017 LAPD Sexual Assault Report – Update

UPDATE, APRIL 17, 2:11 PM: Les Moonves has settled his debts with the City of Los Angeles, at least financially.

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variety.com

11.04.2024 / 22:19

Four Paramount Global Board Members to Exit Amid M&A Talks

Todd Spangler NY Digital Editor Four members of Paramount Global‘s current 11 board of directors will step down, the company disclosed, coming as the company has stepped up talks with Skydance Media about an M&A deal. The four directors — Dawn Ostroff, former chief content and advertising business officer of Spotify; Nicole Seligman, former president of Sony Entertainment; Frederick Terrell, vice chairman of investment banking at Wells Fargo; and Rob Klieger, partner at Hueston Hennigan LLP, who had served as legal counsel to Sumner Redstone — will not stand for reelection at Paramount Global’s annual meeting, set for June 4.

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deadline.com

11.04.2024 / 19:41

Paramount CEO Brian Robbins Jokes That Distribution Chief Chris Aronson “Has A Kickstarter” To Buy Studio As Skydance Deal Looms – CinemaCon

What do you do when your conglom might be a target for a takeover. Don’t sweat it and laugh.

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deadline.com

08.04.2024 / 23:05

Paramount Stock Falters As Investors Sweat Details Of Skydance-National Amusements Talks

Paramount Global‘s beleaguered stock faltered Monday as investors fretted over the ongoing talks between controlling shareholder National Amusements Inc. and Skydance Media.

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variety.com

06.04.2024 / 04:05

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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deadline.com

03.04.2024 / 20:11

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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variety.com

03.04.2024 / 01:53

National Amusements and Paramount Global Close to Setting an Exclusive Window for Acquisition Talks with Skydance Media

Cynthia Littleton Business Editor Paramount Global and its parent company are moving closer to an agreement with Skydance Media for an exclusive window for acquisition negotiations as Shari Redstone and David Ellison inch toward a deal to bring their companies together in a three-way transaction. The New York Times on Tuesday reported on the rumors that have been swirling around Hollywood for the past few days.

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variety.com

27.03.2024 / 20:01

Paramount Global’s Debt Rating Downgraded to Junk by S&P

Todd Spangler NY Digital Editor Paramount Global‘s debt rating was cut to junk status by credit-rating agency S&P Global, which cited the media conglomerate’s ongoing challenges with free cash flow generation relative to its debt. S&P on Wednesday said it expects Paramount Global’s free operating cash flow-to-debt will remain “well below” 10% through 2025, and that adjusted leverage (debt-to-equity ratio) will stay above 3.5 times through then.

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variety.com

22.03.2024 / 17:23

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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deadline.com

21.03.2024 / 23:21

NFL Exec Brian Rolapp Expects Paramount And Other Legacy Rights Holders To Stay Afloat Through 2033 End Of Current Deal: “We’re Not Worried About Any Insolvency Risk”

Despite the rigors of the ongoing transition from linear TV to streaming, NFL Chief Media & Business Officer Brian Rolapp expects traditional media partners like Fox, NBCUniversal, Disney and Paramount to remain viable for years to come.

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deadline.com

21.03.2024 / 17:53

Paramount Stock Rides Roller Coaster Back Down After Report That Shari Redstone Is “Unconvinced” By Apollo Offer For Studio

Paramount Global shares, which soared Wednesday on news that Apollo had made an $11 billion offer for Paramount Pictures, has slumped today after a report splashed cold water on the scenario.

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variety.com

21.03.2024 / 17:31

Paramount Stock Retreats on Report Shari Redstone Not Interested in Apollo’s $11 Billion Studio Buyout Bid

Todd Spangler NY Digital Editor Shari Redstone looks like she remains firmly opposed to breaking up Paramount Global. Redstone, president of National Amusements Inc. — the controlling shareholder of Paramount Global — was “unconvinced” by Apollo Global Management’s $11 billion offer to buy Paramount’s film and TV studio, the Financial Times reported, citing anonymous sources.

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deadline.com

20.03.2024 / 20:01

Paramount Global Stock Pops On Apollo’s Reported $11 Billion Bid For Studio

Shares of Paramount Global popped in afternoon trade on a report that Apollo Global has made an $11 billion bid for the company’s film and TV studio. The private equity giant has been in and out of the mix of suitors, which also include David Ellison‘s Skydance Media and Byron Allen.

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variety.com

20.03.2024 / 19:55

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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deadline.com

13.03.2024 / 22:53

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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deadline.com

06.03.2024 / 17:45

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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deadline.com

21.02.2024 / 22:55

Les Moonves’ $11.5K Settlement With City Of LA Rejected By Ethics Commission; Stormy Meeting Over Ex-CBS Boss'”Misuse” Of 2017 LAPD Sexual Assault Report

Los Angeles’ Ethics Commission has rejected Les Moonves’ $11,250 settlement with the city over information leaked to the once powerful CBS CEO by a LAPD officer about sexual assault allegations.

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deadline.com

13.02.2024 / 18:07

‘Tracker’ Solid In Post-Super Bowl Debut; Scores More Than 18M Viewers In Latest After Game Premiere In Decades

Justin Hartley certainly has a proven track record when it comes to post-Super Bowl dramas.

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variety.com

25.01.2024 / 20:02

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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deadline.com

25.01.2024 / 18:47

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.

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deadline.com

25.01.2024 / 03:15

Skydance Media CEO David Ellison Makes Offer For Control Of Paramount Global

David Ellison’s Skydance is said to have made a preliminary offer to buy Shari Redstone’s stake in National Amusements, the family holding company that controls Paramount Global, according to a Bloomberg report.