What now?
The Skydance Media deal for National Amusements appears to be dead, with the company declining to extend its exclusive negotiating window, and sources tell The Hollywood Reporter that controlling shareholder Shari Redstone is cool on the $26 billion offer from Sony Pictures and Apollo Global Management — a deal that would lead to the breakup of the empire her father built. While it is possible that Paramount’s independent board committee believes that regulatory concerns presented by the Apollo-Sony offer can be overlooked and recommends that deal, it looks like an increasingly challenged proposition.
For the foreseeable future, it appears, the company is in the hands of the three-man committee made up of CBS chief George Cheeks, Paramount Pictures’ Brian Robbins and Chris McCarthy, head of Showtime/MTV Entertainment Studios and Paramount Media Networks. Paramount stock dropped 7 percent to $12.89 at the close in the wake of the news.
The Skydance Media deal for National Amusements appears to be dead, with the company declining to extend its exclusive negotiating window, and sources tell The Hollywood Reporter that controlling shareholder Shari Redstone is cool on the $26 billion offer from Sony Pictures and Apollo Global Management — a deal that would lead to the breakup of the empire her father built. While it is possible that Paramount’s independent board committee believes that regulatory concerns presented by the Apollo-Sony offer can be overlooked and recommends that deal, it looks like an increasingly challenged proposition.
For the foreseeable future, it appears, the company is in the hands of the three-man committee made up of CBS chief George Cheeks, Paramount Pictures’ Brian Robbins and Chris McCarthy, head of Showtime/MTV Entertainment Studios and Paramount Media Networks. Paramount stock dropped 7 percent to $12.89 at the close in the wake of the news.
- 5/4/2024
- by Kim Masters and Alex Weprin
- The Hollywood Reporter - Movie News
Upadted: After months of M&a talks, Paramount Global and controlling shareholder Shari Redstone might be going it alone after all — for now.
Insiders tell Variety that the expectation at the company is that neither of the two offers in play — Skydance Media-RedBird Capital Partners and Sony Pictures Entertainment-Apollo Global Management — will come to fruition. And Redstone is said to have reluctantly concluded that a deal with David Ellison’s Skydance, a longtime partner of Paramount Pictures, will not be possible.
As of Friday morning, the special committee established by Paramount Global’s board to evaluate M&a proposals had not notified Skydance one way or the other about its best and final offer, which would involve Skydance acquiring Redstone’s National Amusements Inc. and merging Skydance and Paramount Global, per a source familiar with the talks. The exclusive 30-day negotiating window between Skydance and the Paramount Global...
Insiders tell Variety that the expectation at the company is that neither of the two offers in play — Skydance Media-RedBird Capital Partners and Sony Pictures Entertainment-Apollo Global Management — will come to fruition. And Redstone is said to have reluctantly concluded that a deal with David Ellison’s Skydance, a longtime partner of Paramount Pictures, will not be possible.
As of Friday morning, the special committee established by Paramount Global’s board to evaluate M&a proposals had not notified Skydance one way or the other about its best and final offer, which would involve Skydance acquiring Redstone’s National Amusements Inc. and merging Skydance and Paramount Global, per a source familiar with the talks. The exclusive 30-day negotiating window between Skydance and the Paramount Global...
- 5/3/2024
- by Todd Spangler
- Variety Film + TV
Byron Allen’s Allen Media Group confirmed Thursday that it is undergoing layoffs as part of strategic changes “to better position the company for growth.”
According to a statement, the changes include “expense and workforce reductions across all divisions of the company,” which includes network, broadcast and syndication divisions; The Weather Channel; digital network TheGrio; and a motion picture division.
“Allen Media Group’s brands continue to perform well and in many areas our revenue growth has greatly outpaced the market,” today’s statement said. “We are aligning these changes to drive future business opportunities and support our growth strategies in our rapidly evolving industry.”
The number of layoffs was not disclosed, but Allen is joining the list of media companies cutting staff as cord-cutting keeps accelerating in the TV biz. The privately-owned Amg currently owns 36 ABC/NBC/CBS/Fox network affiliate broadcast television stations in 21 U.S. markets and...
According to a statement, the changes include “expense and workforce reductions across all divisions of the company,” which includes network, broadcast and syndication divisions; The Weather Channel; digital network TheGrio; and a motion picture division.
“Allen Media Group’s brands continue to perform well and in many areas our revenue growth has greatly outpaced the market,” today’s statement said. “We are aligning these changes to drive future business opportunities and support our growth strategies in our rapidly evolving industry.”
The number of layoffs was not disclosed, but Allen is joining the list of media companies cutting staff as cord-cutting keeps accelerating in the TV biz. The privately-owned Amg currently owns 36 ABC/NBC/CBS/Fox network affiliate broadcast television stations in 21 U.S. markets and...
- 5/2/2024
- by Patrick Hipes and Jill Goldsmith
- Deadline Film + TV
Byron Allen’s Allen Media Group said it is cutting costs and will be laying off employees.
The move began on Monday. Amg said it “is making strategic changes to better position the company for growth that will result in expense and workforce reductions across all divisions of the company. Allen
Media Group’s brands continue to perform well and in many areas our revenue growth has greatly outpaced the market. We are aligning these changes to drive future business opportunities and support our growth strategies in our rapidly evolving industry.
It wasn’t clear how many employees are affected.
Amg
More...
The move began on Monday. Amg said it “is making strategic changes to better position the company for growth that will result in expense and workforce reductions across all divisions of the company. Allen
Media Group’s brands continue to perform well and in many areas our revenue growth has greatly outpaced the market. We are aligning these changes to drive future business opportunities and support our growth strategies in our rapidly evolving industry.
It wasn’t clear how many employees are affected.
Amg
More...
- 5/2/2024
- by Jill Goldsmith
- Deadline Film + TV
Byron Allen’s media firm is set to undergo a notable round of layoffs, the company disclosed.
“Allen Media Group is making strategic changes to better position the company for growth that will result in expense and workforce reductions across all divisions of the company,” a rep for Allen Media told The Hollywood Reporter on Thursday. No detail was disclosed on the size of the workforce reduction.
Allen Media Group properties include the linear TV network The Weather Channel (purchased for what was said to be in the $300 million range in 2018) as well as the network and website TheGrio, local TV stations in multiple cities, streaming service Hbcu Go and branded properties like Cars.TV and Pets.TV.
The Los Angeles-based firm, founded in 1993, also includes a film distribution company that has released such titles as shark thriller 47 Meters Down and Western Hostiles, among other titles. In 2021, Allen bought Black News Channel...
“Allen Media Group is making strategic changes to better position the company for growth that will result in expense and workforce reductions across all divisions of the company,” a rep for Allen Media told The Hollywood Reporter on Thursday. No detail was disclosed on the size of the workforce reduction.
Allen Media Group properties include the linear TV network The Weather Channel (purchased for what was said to be in the $300 million range in 2018) as well as the network and website TheGrio, local TV stations in multiple cities, streaming service Hbcu Go and branded properties like Cars.TV and Pets.TV.
The Los Angeles-based firm, founded in 1993, also includes a film distribution company that has released such titles as shark thriller 47 Meters Down and Western Hostiles, among other titles. In 2021, Allen bought Black News Channel...
- 5/2/2024
- by Erik Hayden
- The Hollywood Reporter - Movie News
The front of the Paramount Pictures studios in Los Angeles, California. (Stock image by Hannah Wernecke via Unsplash)
Sony and Apollo Global Management have formalized their $26 billion all-cash bid for Paramount Global, according to a report published on Thursday.
The offer — first reported by the Wall Street Journal, then confirmed separately by the New York Times — was submitted on Wednesday and signed by Sony Pictures CEO Tony Vinciquerra and Apollo Global partner Aaron Sobel.
If accepted, Sony would become the majority owner of Paramount Global, which includes the Paramount Pictures studio, CBS and MTV Networks linear television channels, foreign broadcast outlets like Channel 5 in Britain and Network 10 in Australia and the streaming platforms Paramount Plus and Pluto TV.
Apollo Global would be a minority shareholder in Paramount and cede operational control to Sony, the Journal said, citing unnamed sources.
The bid comes two days before the expiration of...
Sony and Apollo Global Management have formalized their $26 billion all-cash bid for Paramount Global, according to a report published on Thursday.
The offer — first reported by the Wall Street Journal, then confirmed separately by the New York Times — was submitted on Wednesday and signed by Sony Pictures CEO Tony Vinciquerra and Apollo Global partner Aaron Sobel.
If accepted, Sony would become the majority owner of Paramount Global, which includes the Paramount Pictures studio, CBS and MTV Networks linear television channels, foreign broadcast outlets like Channel 5 in Britain and Network 10 in Australia and the streaming platforms Paramount Plus and Pluto TV.
Apollo Global would be a minority shareholder in Paramount and cede operational control to Sony, the Journal said, citing unnamed sources.
The bid comes two days before the expiration of...
- 5/2/2024
- by Matthew Keys
- The Desk
Three Paramount executives will take Bakish’s place until the question of Paramount’s ownership is determined.
It has been a tumultuous few months for Paramount Global as the venerated entertainment company has been regularly embroiled in rumors surrounding its ownership and, more recently, who will be in charge of the company. On Monday, some of those questions were answered as Paramount reported its first-quarter earnings for 2024. On the streaming front, the company’s flagship platform Paramount+ added 3.7 million customers worldwide during the first three months of the year to bring its global total to 71.2 million, up 18.67% year over year.
Key Details: Paramount+ saw 18.67% subscriber growth over the course of the past year. The streamer also boasted a 51% revenue jump year over year as well. CEO Bob Bakish stepped down from his post on Monday effective immediately and he will be replaced by a trio of executives while Paramount’s ownership is decided.
It has been a tumultuous few months for Paramount Global as the venerated entertainment company has been regularly embroiled in rumors surrounding its ownership and, more recently, who will be in charge of the company. On Monday, some of those questions were answered as Paramount reported its first-quarter earnings for 2024. On the streaming front, the company’s flagship platform Paramount+ added 3.7 million customers worldwide during the first three months of the year to bring its global total to 71.2 million, up 18.67% year over year.
Key Details: Paramount+ saw 18.67% subscriber growth over the course of the past year. The streamer also boasted a 51% revenue jump year over year as well. CEO Bob Bakish stepped down from his post on Monday effective immediately and he will be replaced by a trio of executives while Paramount’s ownership is decided.
- 4/29/2024
- by Matt Tamanini
- The Streamable
Get ready for a night of laughter and hilarity with “Comics Unleashed With Byron Allen,” airing on CBS at 1:37 Am on Friday, May 3, 2024. In this uproarious episode, viewers will be treated to a lineup of talented comedians guaranteed to tickle your funny bone.
Join host Byron Allen as he welcomes a fantastic array of comedic talent to the stage. This episode features the comedic stylings of Jimmy Shubert, Ben Morrison, Drew Fraser, and Lisa Sundstedt, each bringing their own unique brand of humor and wit to the table.
From witty observations to side-splitting anecdotes, these comedians will have you laughing out loud from start to finish. Whether you’re a longtime fan of stand-up comedy or just looking for a good laugh, “Comics Unleashed With Byron Allen” promises to deliver an evening of non-stop entertainment.
So grab your popcorn, settle in on the couch, and get ready to unwind...
Join host Byron Allen as he welcomes a fantastic array of comedic talent to the stage. This episode features the comedic stylings of Jimmy Shubert, Ben Morrison, Drew Fraser, and Lisa Sundstedt, each bringing their own unique brand of humor and wit to the table.
From witty observations to side-splitting anecdotes, these comedians will have you laughing out loud from start to finish. Whether you’re a longtime fan of stand-up comedy or just looking for a good laugh, “Comics Unleashed With Byron Allen” promises to deliver an evening of non-stop entertainment.
So grab your popcorn, settle in on the couch, and get ready to unwind...
- 4/26/2024
- by Jules Byrd
- TV Everyday
A new report from CNBC indicates many of the parties who approached Paramount about buying BET have contacted Scripps about the sale.
Broadcasting companies are feeling the squeeze these days. Programming costs and affiliate fees are continuing to rise, and broadcasters have to keep their retransmission fee demands within a certain range or risk being dropped by distributors in carriage disputes. E.W. Scripps is one such broadcaster that finds itself facing myriad financial pressures, which could explain a new report from CNBC that suggests that the company is looking to sell its Black-focused culture and entertainment network Bounce TV.
Key Facts: CNBC reports Scripps has hired a bank to evaluate the potential sale of Bounce TV. Many parties interested in acquiring BET from Paramount last year have contacted Scripps. Scripps’ stock has fallen more than 50% this year amidst concerns driven by cord-cutting.
CNBC’s report indicates that Scripps has...
Broadcasting companies are feeling the squeeze these days. Programming costs and affiliate fees are continuing to rise, and broadcasters have to keep their retransmission fee demands within a certain range or risk being dropped by distributors in carriage disputes. E.W. Scripps is one such broadcaster that finds itself facing myriad financial pressures, which could explain a new report from CNBC that suggests that the company is looking to sell its Black-focused culture and entertainment network Bounce TV.
Key Facts: CNBC reports Scripps has hired a bank to evaluate the potential sale of Bounce TV. Many parties interested in acquiring BET from Paramount last year have contacted Scripps. Scripps’ stock has fallen more than 50% this year amidst concerns driven by cord-cutting.
CNBC’s report indicates that Scripps has...
- 4/25/2024
- by David Satin
- The Streamable
Get ready for a late-night social media extravaganza with Episode 50 of “#Handles,” titled “#Handles 5/1,” airing at 1:30 Am on Thursday, May 2nd, 2024, exclusively on truTV. In this exciting installment, hosts Lauren Jbara and Channing Frye take viewers on a journey through the world of X, Facebook, and Instagram as they share a social recap of the NBA’s top highlights and storylines.
From jaw-dropping dunks to buzzer-beating shots, “#Handles 5/1” promises to be a fast-paced and entertaining ride for basketball fans everywhere. Join Lauren and Channing as they break down the latest trends and discussions happening across social media platforms, providing insights and analysis that you won’t want to miss.
So grab your phone, follow along on X, Facebook, and Instagram, and tune in to “#Handles 5/1” at 1:30 Am on Thursday, May 2nd, 2024, for all the action and excitement, only on truTV.
Release Date & Time: 1:37 Am Thursday 2 May 2024 on...
From jaw-dropping dunks to buzzer-beating shots, “#Handles 5/1” promises to be a fast-paced and entertaining ride for basketball fans everywhere. Join Lauren and Channing as they break down the latest trends and discussions happening across social media platforms, providing insights and analysis that you won’t want to miss.
So grab your phone, follow along on X, Facebook, and Instagram, and tune in to “#Handles 5/1” at 1:30 Am on Thursday, May 2nd, 2024, for all the action and excitement, only on truTV.
Release Date & Time: 1:37 Am Thursday 2 May 2024 on...
- 4/25/2024
- by Jules Byrd
- TV Everyday
Get ready for an exciting episode of “Entertainers: With Byron Allen,” airing on ABC at 4:30 Am on Sunday, April 28, 2024. Hosted by Byron Allen, this episode features a star-studded lineup of guests from the entertainment industry.
Viewers can look forward to interviews with Dan Stevens and Kathryn Newton, who discuss their latest project, “Abigail.” Additionally, Steve Martin shares insights into his documentary “Steve (martin),” offering viewers a behind-the-scenes look at his life and career.
Luna Lauren Velez joins the conversation to talk about her role in “American Rust: Broken Justice,” while Henry Cavill, the band Infinity Song, Archie Panjabi, Diane Warren, Javier Bardem, and Shailene Woodley round out the lineup with their own unique insights and experiences.
From Hollywood stars to talented musicians and industry insiders, “Entertainers: With Byron Allen” offers viewers an exclusive glimpse into the world of entertainment. Don’t miss out on this jam-packed episode filled with fascinating interviews and behind-the-scenes stories.
Viewers can look forward to interviews with Dan Stevens and Kathryn Newton, who discuss their latest project, “Abigail.” Additionally, Steve Martin shares insights into his documentary “Steve (martin),” offering viewers a behind-the-scenes look at his life and career.
Luna Lauren Velez joins the conversation to talk about her role in “American Rust: Broken Justice,” while Henry Cavill, the band Infinity Song, Archie Panjabi, Diane Warren, Javier Bardem, and Shailene Woodley round out the lineup with their own unique insights and experiences.
From Hollywood stars to talented musicians and industry insiders, “Entertainers: With Byron Allen” offers viewers an exclusive glimpse into the world of entertainment. Don’t miss out on this jam-packed episode filled with fascinating interviews and behind-the-scenes stories.
- 4/21/2024
- by Jules Byrd
- TV Everyday
Paramount is currently in exclusive negotiations with Skydance on a potential merger, but there is another contender lurking — one coming from way out of left field.
The New York Times reported Thursday that Sony Pictures Entertainment is in talks with Apollo Global Management on teaming up for a potential joint bid to buy Paramount. There has not been an official offer on the table because of the formal exclusive negotiations, but this one threatens to be seismic. There is one degree of separation between the potential joint venture: Sony and the Apollo-backed Legendary Pictures already have a distribution deal.
When reached by IndieWire, Sony had no comment on the report. Same with Paramount, and Apollo did not immediately respond to our inquiry. We get it: we’re sort of speechless too.
A Sony Pictures and Paramount Pictures studio combination would be an instant Hollywood juggernaut. (So much so that...
The New York Times reported Thursday that Sony Pictures Entertainment is in talks with Apollo Global Management on teaming up for a potential joint bid to buy Paramount. There has not been an official offer on the table because of the formal exclusive negotiations, but this one threatens to be seismic. There is one degree of separation between the potential joint venture: Sony and the Apollo-backed Legendary Pictures already have a distribution deal.
When reached by IndieWire, Sony had no comment on the report. Same with Paramount, and Apollo did not immediately respond to our inquiry. We get it: we’re sort of speechless too.
A Sony Pictures and Paramount Pictures studio combination would be an instant Hollywood juggernaut. (So much so that...
- 4/19/2024
- by Tony Maglio and Brian Welk
- Indiewire
As Paramount Global and Skydance Media’s exclusive talks about a potential merger continue, Ariel Investments founder and co-ceo John Rogers Jr. told TheWrap that the media conglomerate’s recent stock decline indicates a lack of faith in Skydance’s CEO David Ellison.
Watching the developments closely, the executive said that he could consider legal action in the event that a deal doesn’t appropriately benefit his clients.
The firm, which is a long-term shareholder with a 1.8% stake in Paramount as of the new year, previously told TheWrap Friday that pursuing exclusive talks with Skydance and a deal that would benefit controlling shareholder Shari Redstone at the expense of other shareholders would be “averse” to the company’s fair market value.
On Monday, he added that they are “talking to our outside counsel.”
Paramount shares have fallen 50% in the past year (Credit: Nasdaq)
“It’s something that we’re going...
Watching the developments closely, the executive said that he could consider legal action in the event that a deal doesn’t appropriately benefit his clients.
The firm, which is a long-term shareholder with a 1.8% stake in Paramount as of the new year, previously told TheWrap Friday that pursuing exclusive talks with Skydance and a deal that would benefit controlling shareholder Shari Redstone at the expense of other shareholders would be “averse” to the company’s fair market value.
On Monday, he added that they are “talking to our outside counsel.”
Paramount shares have fallen 50% in the past year (Credit: Nasdaq)
“It’s something that we’re going...
- 4/15/2024
- by Lucas Manfredi
- The Wrap
Paramount's Second-Largest Shareholder Would Rather See Company Go Unsold Than Approve Skydance Deal
Speaking with the New York Post last week, Wall Street mogul Mario Gabelli said there was “no question” he’d prefer no deal to the Skydance offer.
There aren’t many Paramount shareholders beyond the controlling shareholder Shari Redstone who are enthusiastic about the company’s decision to enter into exclusive negotiations with David Ellison of Skydance Media regarding a merger. A report from the New York Post indicates that Paramount’s second-largest shareholder Mario Gabelli is also against the deal, and in fact would rather Paramount remain unsold than see it be merged or acquired by some other company.
Gabelli said there was “no question I’d rather see no sale” when queried by the Post. His plan is to follow Paramount CEO Bob Bakish’s guidance on keeping the company going, as well as to sell its cable channels to Byron Allen. Allen has already registered a bid for Paramount Global,...
There aren’t many Paramount shareholders beyond the controlling shareholder Shari Redstone who are enthusiastic about the company’s decision to enter into exclusive negotiations with David Ellison of Skydance Media regarding a merger. A report from the New York Post indicates that Paramount’s second-largest shareholder Mario Gabelli is also against the deal, and in fact would rather Paramount remain unsold than see it be merged or acquired by some other company.
Gabelli said there was “no question I’d rather see no sale” when queried by the Post. His plan is to follow Paramount CEO Bob Bakish’s guidance on keeping the company going, as well as to sell its cable channels to Byron Allen. Allen has already registered a bid for Paramount Global,...
- 4/15/2024
- by David Satin
- The Streamable
Dawn Ostroff (left) and Frederick Terrell are two members of the Paramount board that are said to be departing in the coming weeks. (Courtesy photos)
Paramount Global is set to lose four members of its board of directors in the coming weeks as the company continues to explore a potential tie-up with film and television production company Skydance Media, according to a report.
On Wednesday, the Wall Street Journal said the company could disclose the departures in a regulatory filing as soon as this week.
Three outgoing board members — former Spotify advertising executive Dawn Ostroff, ex-Sony Entertainment president Nicole Seligman and investment and banking executive Frederick Terrell — were part of a special committee at Paramount tasked with exploring different potential suitors for a merger or acquisition of the entertainment company’s assets with another firm.
The other departing board member, Robert Klieger, is the personal attorney of Shari Redstone,...
Paramount Global is set to lose four members of its board of directors in the coming weeks as the company continues to explore a potential tie-up with film and television production company Skydance Media, according to a report.
On Wednesday, the Wall Street Journal said the company could disclose the departures in a regulatory filing as soon as this week.
Three outgoing board members — former Spotify advertising executive Dawn Ostroff, ex-Sony Entertainment president Nicole Seligman and investment and banking executive Frederick Terrell — were part of a special committee at Paramount tasked with exploring different potential suitors for a merger or acquisition of the entertainment company’s assets with another firm.
The other departing board member, Robert Klieger, is the personal attorney of Shari Redstone,...
- 4/11/2024
- by Matthew Keys
- The Desk
Get ready for an exciting episode of “Entertainers: With Byron Allen” on ABC. Airing at 4:30 Am on Sunday, April 14, 2024, Episode 8 promises to be a star-studded affair with a lineup of Hollywood’s brightest talents.
Tune in as host Byron Allen sits down with an array of A-list guests, including Paul Rudd, who discusses his latest role in “Ghostbusters: Frozen Empire.” Additionally, Julia Mayorga shares insights into her character in the gripping series “American Rust: Broken Justice,” while George Lopez gives viewers a glimpse into his new project, “Lopez vs. Lopez.”
But the excitement doesn’t stop there, as the episode features appearances by Millie Bobby Brown, Jade LeMac, Zendaya, Francisco Ramos, Viola Davis, Johan Renck, Denzel Washington, and Ariana Grande. With such a star-studded lineup, viewers can expect engaging conversations, behind-the-scenes anecdotes, and plenty of entertainment.
Don’t miss out on this jam-packed episode of “Entertainers: With Byron Allen...
Tune in as host Byron Allen sits down with an array of A-list guests, including Paul Rudd, who discusses his latest role in “Ghostbusters: Frozen Empire.” Additionally, Julia Mayorga shares insights into her character in the gripping series “American Rust: Broken Justice,” while George Lopez gives viewers a glimpse into his new project, “Lopez vs. Lopez.”
But the excitement doesn’t stop there, as the episode features appearances by Millie Bobby Brown, Jade LeMac, Zendaya, Francisco Ramos, Viola Davis, Johan Renck, Denzel Washington, and Ariana Grande. With such a star-studded lineup, viewers can expect engaging conversations, behind-the-scenes anecdotes, and plenty of entertainment.
Don’t miss out on this jam-packed episode of “Entertainers: With Byron Allen...
- 4/7/2024
- by Jules Byrd
- TV Everyday
The front of the Paramount Pictures studios in Los Angeles, California. (Stock image by Hannah Wernecke via Unsplash)
The board of directors at Paramount Global have agreed to enter into exclusive discussions with Skydance Media over a proposed merger of the two businesses, according to a report published this week.
The report, offered by the Wall Street Journal and its anonymous sources, said Paramount will stop entertaining offers from other suitors for at least a month while it irons out details of a proposed merger with Skydance.
In January, Skydance was named as one of the parties interested in acquiring some or all of Paramount. At the time, financial news outlet Reuters said the all-cash deal proposed by Skydance would involve a handful of other players, including China-based Tencent and RedBird Capital Partners.
Apollo stepped in with an offer of its own, pledging $11 billion for Paramount’s film and television...
The board of directors at Paramount Global have agreed to enter into exclusive discussions with Skydance Media over a proposed merger of the two businesses, according to a report published this week.
The report, offered by the Wall Street Journal and its anonymous sources, said Paramount will stop entertaining offers from other suitors for at least a month while it irons out details of a proposed merger with Skydance.
In January, Skydance was named as one of the parties interested in acquiring some or all of Paramount. At the time, financial news outlet Reuters said the all-cash deal proposed by Skydance would involve a handful of other players, including China-based Tencent and RedBird Capital Partners.
Apollo stepped in with an offer of its own, pledging $11 billion for Paramount’s film and television...
- 4/4/2024
- by Matthew Keys
- The Desk
Updated with stock price. Shares of Paramount Global gave up some gains on Thursday after surging more than 15% yesterday as Skydance chief David Ellison secured pole position to clinch a majority stake of National Amusements.
Led by Shari Redstone, National Amusements operates a movie theater circuit and also controls more than three-quarters of Paramount’s voting shares. A report in Bloomberg just prior to market close said a tentative deal was reached between Ellison, a longtime business partner on film and TV projects with Paramount, and Redstone. There is no deal done. But as Deadline reported earlier today, the two sides are in an exclusive negotiating period. Such an arrangement is only entered into with a framework in place, in the hope of reaching a final agreement.
The two sides have established a 30-day exclusive negotiating window, Deadline has learned, a sign that things are moving forward more decisively after months of speculation.
Led by Shari Redstone, National Amusements operates a movie theater circuit and also controls more than three-quarters of Paramount’s voting shares. A report in Bloomberg just prior to market close said a tentative deal was reached between Ellison, a longtime business partner on film and TV projects with Paramount, and Redstone. There is no deal done. But as Deadline reported earlier today, the two sides are in an exclusive negotiating period. Such an arrangement is only entered into with a framework in place, in the hope of reaching a final agreement.
The two sides have established a 30-day exclusive negotiating window, Deadline has learned, a sign that things are moving forward more decisively after months of speculation.
- 4/3/2024
- by Jill Goldsmith and Dade Hayes
- Deadline Film + TV
Depending who you ask, the streaming wars are either over (and Netflix has won!) or still very much ongoing.
Well, if you came to this story, you’ve asked us. Our answer: Yes, Netflix has won first place, but the other podiums are still in play.
Historically, the way to evaluate streamers was by subscriber count. Though the industry’s grow-or-die era is over, subscribers are still very important to ranking the streaming services. Revenue may have taken over as the key-est of the KPIs (key performance metrics) for Netflix and others, but there is no revenue without subscribers.
We’ve recorded the subscriber counts for each of the major streaming services as of December 31, 2023. Netflix will report its Q1 results on April 18, 2024; everyone else will follow with their own updates.
‘Dr. Death'(Photo by: Barbara Nitke/Peacock)Barbara Nitke/Peacock Peacock: 31 million subscribers
It’s hard to write...
Well, if you came to this story, you’ve asked us. Our answer: Yes, Netflix has won first place, but the other podiums are still in play.
Historically, the way to evaluate streamers was by subscriber count. Though the industry’s grow-or-die era is over, subscribers are still very important to ranking the streaming services. Revenue may have taken over as the key-est of the KPIs (key performance metrics) for Netflix and others, but there is no revenue without subscribers.
We’ve recorded the subscriber counts for each of the major streaming services as of December 31, 2023. Netflix will report its Q1 results on April 18, 2024; everyone else will follow with their own updates.
‘Dr. Death'(Photo by: Barbara Nitke/Peacock)Barbara Nitke/Peacock Peacock: 31 million subscribers
It’s hard to write...
- 3/29/2024
- by Tony Maglio
- Indiewire
Tune in for an exciting episode of “Entertainers: With Byron Allen” airing on ABC this Sunday at 4:00 Am. In Episode 7, host Byron Allen brings together a star-studded lineup of guests for captivating interviews and engaging conversations.
Get ready to hear from Hollywood heavyweights like Josh Brolin, who discusses his role in “Dune: Part 2,” and Lucas Hedges and Christina Jackson, stars of the film “Shirley.” Plus, don’t miss Reneé Rapp from “Mean Girls,” along with Jeff Daniels and Maura Tierney, sharing insights into their latest projects.
In addition to these talented actors, the episode features interviews with renowned musician Ziggy Marley, composer Charles Fox, and actress Karen Gillan. Plus, Danielle Larracuente and Will Ferrell join the conversation to share their experiences in the entertainment industry.
With a diverse range of guests and topics, “Entertainers: With Byron Allen” promises to be an entertaining and informative watch for viewers of all ages.
Get ready to hear from Hollywood heavyweights like Josh Brolin, who discusses his role in “Dune: Part 2,” and Lucas Hedges and Christina Jackson, stars of the film “Shirley.” Plus, don’t miss Reneé Rapp from “Mean Girls,” along with Jeff Daniels and Maura Tierney, sharing insights into their latest projects.
In addition to these talented actors, the episode features interviews with renowned musician Ziggy Marley, composer Charles Fox, and actress Karen Gillan. Plus, Danielle Larracuente and Will Ferrell join the conversation to share their experiences in the entertainment industry.
With a diverse range of guests and topics, “Entertainers: With Byron Allen” promises to be an entertaining and informative watch for viewers of all ages.
- 3/24/2024
- by Jules Byrd
- TV Everyday
Paramount has a new offer on the table, but Shari Redstone might not even get out of bed for this one. The Wall Street Journal reported Wednesday that private equity firm Apollo Global Management (also an investor in “Dune” studio Legendary Entertainment) offered Paramount Global $11 billion for its film and TV studio.
The specifics of exactly which assets Apollo wants to buy (and not buy) are unclear, but the film and TV studios would include Paramount Pictures and the production capabilities at networks like CBS and MTV. Linear networks would stay behind, as well as distribution platforms like Paramount+ and BET+.
Also unknown is if the iconic Paramount lot is part of the offer, which houses so much of Paramount’s studio production. When reached by IndieWire, a Paramount Global rep had no comment. Reps for Apollo did not return a request for comment.
Redstone is “unconvinced” by the offer,...
The specifics of exactly which assets Apollo wants to buy (and not buy) are unclear, but the film and TV studios would include Paramount Pictures and the production capabilities at networks like CBS and MTV. Linear networks would stay behind, as well as distribution platforms like Paramount+ and BET+.
Also unknown is if the iconic Paramount lot is part of the offer, which houses so much of Paramount’s studio production. When reached by IndieWire, a Paramount Global rep had no comment. Reps for Apollo did not return a request for comment.
Redstone is “unconvinced” by the offer,...
- 3/21/2024
- by Brian Welk and Tony Maglio
- Indiewire
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.
Shares in the media company had dropped 5% by mid-day, to below $12, after the Financial Times reported that controlling shareholder Shari Redstone is “unconvinced” by the private equity offer. Apollo’s offer, which valued just the studio at more than the entirety of Paramount Global, pushed the stock up 12% on Wednesday. Redstone has long regarded the studio, which was a cherished asset of her father, Sumner Redstone, as the centerpiece for Paramount and a deal without the studio could be far trickier to engineer.
Reps for Redstone and Paramount did not immediately respond to Deadline’s requests for comment.
Redstone, whose National Amusements controls more than three-quarters of the voting shares in Paramount, is looking more favorably on a competing offer...
Shares in the media company had dropped 5% by mid-day, to below $12, after the Financial Times reported that controlling shareholder Shari Redstone is “unconvinced” by the private equity offer. Apollo’s offer, which valued just the studio at more than the entirety of Paramount Global, pushed the stock up 12% on Wednesday. Redstone has long regarded the studio, which was a cherished asset of her father, Sumner Redstone, as the centerpiece for Paramount and a deal without the studio could be far trickier to engineer.
Reps for Redstone and Paramount did not immediately respond to Deadline’s requests for comment.
Redstone, whose National Amusements controls more than three-quarters of the voting shares in Paramount, is looking more favorably on a competing offer...
- 3/21/2024
- by Dade Hayes
- Deadline Film + TV
Paramount will have to seriously consider this latest bid to purchase some of its assets.
There’s seemingly too much smoke around Paramount and its discussions with other companies regarding mergers and acquisitions for it not to eventually lead to some fire. The Wall Street Journal is stoking those flames yet again by reporting that Apollo Global Management is offering $11 billion to acquire Paramount’s TV and movie studio, which is more than the market capitalization of the entire Paramount Global company, which also includes multiple TV channels, merchandising, and more.
Key Details: Apollo’s interest in Paramount was first reported earlier in March. Acquiring just Paramount’s studios would allow Apollo to sidestep regulatory concerns regarding CBS. Paramount is still mulling an offer from David Ellison of Skydance Media, as well. Get 30 Days Free $5.99+ / month paramountplus.com
For a Limited Time, Get a Month of Paramount+ With Code: Stallone.
There’s seemingly too much smoke around Paramount and its discussions with other companies regarding mergers and acquisitions for it not to eventually lead to some fire. The Wall Street Journal is stoking those flames yet again by reporting that Apollo Global Management is offering $11 billion to acquire Paramount’s TV and movie studio, which is more than the market capitalization of the entire Paramount Global company, which also includes multiple TV channels, merchandising, and more.
Key Details: Apollo’s interest in Paramount was first reported earlier in March. Acquiring just Paramount’s studios would allow Apollo to sidestep regulatory concerns regarding CBS. Paramount is still mulling an offer from David Ellison of Skydance Media, as well. Get 30 Days Free $5.99+ / month paramountplus.com
For a Limited Time, Get a Month of Paramount+ With Code: Stallone.
- 3/21/2024
- by David Satin
- The Streamable
Shares in Paramount Global soared on Wednesday after details of an acquisition proposal by the private equity firm Apollo became public.
Paramount stock closed at $12.51 per share Wednesday, up nearly 12 percent for the day.
The Wall Street Journal reported that Apollo made an $11 billion offer just for Paramount’s film and television studio. That is higher than the company’s $7.7 billion market cap when the story was published, and the deal reportedly does not include Paramount’s other business lines, like CBS, BET or the former Viacom cable channels.
Paramount’s market cap after the stock surge was about $8.6 billion.
The fate of Paramount has been the talk of Hollywood in recent months, with a number of potential bidders circling the company, as well as National Amusements, the Redstone family company that has a controlling stake.
Gerry Cardinale of RedBird Capital and David Ellison of Skydance have held talks with...
Paramount stock closed at $12.51 per share Wednesday, up nearly 12 percent for the day.
The Wall Street Journal reported that Apollo made an $11 billion offer just for Paramount’s film and television studio. That is higher than the company’s $7.7 billion market cap when the story was published, and the deal reportedly does not include Paramount’s other business lines, like CBS, BET or the former Viacom cable channels.
Paramount’s market cap after the stock surge was about $8.6 billion.
The fate of Paramount has been the talk of Hollywood in recent months, with a number of potential bidders circling the company, as well as National Amusements, the Redstone family company that has a controlling stake.
Gerry Cardinale of RedBird Capital and David Ellison of Skydance have held talks with...
- 3/20/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
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.
The stock heading into market close is up over 11% at $12.48 in heavier than usual volume. That’s still half of where it was a year ago as the company battles streaming losses and high debt. It’s been a takeover target for months now without any deal.
The WSJ cited people familiar with the situation saying the board is reviewing the Apollo offer. Deadline has heard that Ellison has fielded a bid for the whole company but no details. There’s been speculation out there by some industry sources that Larry Ellison would never back a money-losing proposition such as Paramount.
The stock heading into market close is up over 11% at $12.48 in heavier than usual volume. That’s still half of where it was a year ago as the company battles streaming losses and high debt. It’s been a takeover target for months now without any deal.
The WSJ cited people familiar with the situation saying the board is reviewing the Apollo offer. Deadline has heard that Ellison has fielded a bid for the whole company but no details. There’s been speculation out there by some industry sources that Larry Ellison would never back a money-losing proposition such as Paramount.
- 3/20/2024
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
Apollo Global Management, a major private-equity firm, has submitted an $11 billion bid to acquire Paramount Pictures and the Paramount TV studios group, 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 like BET, Comedy Central, Nickelodeon and MTV, or the streaming business unit that includes Paramount+ and Pluto TV.
Apollo’s reported offer for Paramount’s studio operations is greater than the market capitalization of Paramount Global in its entirety ($7.3 billion as of March 19). The proposed transaction may include some assumption of Paramount Global’s long-term debt (which stood at $14.6 billion at the end of 2023).
Shares of Paramount Global closed up 11.8% Wednesday on the Journal report, to $12.51/per share, boosting its market cap to nearly $8.7 billion. The stock remains well below its 52-week high of $24/share.
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 like BET, Comedy Central, Nickelodeon and MTV, or the streaming business unit that includes Paramount+ and Pluto TV.
Apollo’s reported offer for Paramount’s studio operations is greater than the market capitalization of Paramount Global in its entirety ($7.3 billion as of March 19). The proposed transaction may include some assumption of Paramount Global’s long-term debt (which stood at $14.6 billion at the end of 2023).
Shares of Paramount Global closed up 11.8% Wednesday on the Journal report, to $12.51/per share, boosting its market cap to nearly $8.7 billion. The stock remains well below its 52-week high of $24/share.
- 3/20/2024
- by Todd Spangler
- Variety Film + TV
The front of the Paramount Pictures studios in Los Angeles, California. (Stock image by Hannah Wernecke via Unsplash)
Private equity group Apollo Global Management has offered National Amusements $11 billion to acquire Paramount Global’s film and television studio business, according to a report.
The report, published by the Wall Street Journal on Wednesday, said the offer comes at a time when National Amusements is reviewing an additional offer from Skydance Media to consolidate its business with Paramount in total, a deal that would include its broadcast and cable networks.
Paramount’s studio business would include some of the industry’s top intellectual property, including “SpongeBob SquarePants,” “Paw Patrol,” “Top Gun” and “Star Trek.” Divorcing the intellectual property arm from Paramount’s broadcast and cable networks could devalue the latter even more, making them difficult to offload to a premium seller later.
It was not clear how closely Paramount was weighing Apollo Global’s offer.
Private equity group Apollo Global Management has offered National Amusements $11 billion to acquire Paramount Global’s film and television studio business, according to a report.
The report, published by the Wall Street Journal on Wednesday, said the offer comes at a time when National Amusements is reviewing an additional offer from Skydance Media to consolidate its business with Paramount in total, a deal that would include its broadcast and cable networks.
Paramount’s studio business would include some of the industry’s top intellectual property, including “SpongeBob SquarePants,” “Paw Patrol,” “Top Gun” and “Star Trek.” Divorcing the intellectual property arm from Paramount’s broadcast and cable networks could devalue the latter even more, making them difficult to offload to a premium seller later.
It was not clear how closely Paramount was weighing Apollo Global’s offer.
- 3/20/2024
- by Matthew Keys
- The Desk
Paramount Global stock surged on Wednesday after a report said private equity company Apollo Global Management has made an $11bn offer for the media conglomerate’s film and TV studio.
News of the latest suitor was first reported by The Wall Street Journal and sent shares in Paramount Global stock soaring by nearly 12% as the price reached $12.51 after hours. Market cap climbed to $8.66bn.
Paramount Global’s value has plummeted from $21.25 exactly one year ago and $23.44 last May. The fact that a suitor values the film and TV studio more than $2bn above the current market cap of its media conglomerate parent is telling.
News of the latest suitor was first reported by The Wall Street Journal and sent shares in Paramount Global stock soaring by nearly 12% as the price reached $12.51 after hours. Market cap climbed to $8.66bn.
Paramount Global’s value has plummeted from $21.25 exactly one year ago and $23.44 last May. The fact that a suitor values the film and TV studio more than $2bn above the current market cap of its media conglomerate parent is telling.
- 3/20/2024
- ScreenDaily
The Weather Channel app on a smart TV. (Courtesy image)
Customers of Charter Communication’s Spectrum TV service will get complementary access to The Weather Channel’s streaming TV app if their plan includes the climate-focused network on cable TV.
The perk is part of a new multi-year agreement between Charter and The Weather Channel’s majority owner Allen Media Group, which extends distribution of other Allen Media-owned channels like The Grio, Justice Central, Cars.TV and several local television stations across the country.
“We are delighted to continue growing our relationship with Charter Communications,” Byron Allen, the founder, Chairman and CEO of Allen Media Group, said in a statement. “Charter / Spectrum has been a phenomenal partner to our television networks and our broadcast television stations, and we look forward to prospering from this mutually-beneficial arrangement for years to come.”
The Weather Channels’ streaming TV app offers live access to the...
Customers of Charter Communication’s Spectrum TV service will get complementary access to The Weather Channel’s streaming TV app if their plan includes the climate-focused network on cable TV.
The perk is part of a new multi-year agreement between Charter and The Weather Channel’s majority owner Allen Media Group, which extends distribution of other Allen Media-owned channels like The Grio, Justice Central, Cars.TV and several local television stations across the country.
“We are delighted to continue growing our relationship with Charter Communications,” Byron Allen, the founder, Chairman and CEO of Allen Media Group, said in a statement. “Charter / Spectrum has been a phenomenal partner to our television networks and our broadcast television stations, and we look forward to prospering from this mutually-beneficial arrangement for years to come.”
The Weather Channels’ streaming TV app offers live access to the...
- 3/14/2024
- by Matthew Keys
- The Desk
Paramount Global has agreed to sell its 13 percent stake in Indian media company Viacom18 to Reliance Industries.
The sale price is approximately $517 million, according to a new securities filing. Reliance, a multinational conglomerate, is already the majority shareholder in Viacom18.
Existing properties at Viacom18 include streaming service JioCinema and channels including Colors, Comedy Central and MTV.
In late February, Disney inked a deal with Reliance Industries to form a joint venture that brings together Reliance’s Viacom18 and Disney’s Star India.
Under the terms of that deal, Reliance will invest $1.4 billion into the Jv, which is valued at $8.5 billion. Disney will provide a content license to the Jv, and “may also contribute certain additional media assets to the Jv, subject to regulatory and third-party approvals,” the company says. The Jv will also have the exclusive right to distribute Disney films and productions in India.
The closing of Paramount’s...
The sale price is approximately $517 million, according to a new securities filing. Reliance, a multinational conglomerate, is already the majority shareholder in Viacom18.
Existing properties at Viacom18 include streaming service JioCinema and channels including Colors, Comedy Central and MTV.
In late February, Disney inked a deal with Reliance Industries to form a joint venture that brings together Reliance’s Viacom18 and Disney’s Star India.
Under the terms of that deal, Reliance will invest $1.4 billion into the Jv, which is valued at $8.5 billion. Disney will provide a content license to the Jv, and “may also contribute certain additional media assets to the Jv, subject to regulatory and third-party approvals,” the company says. The Jv will also have the exclusive right to distribute Disney films and productions in India.
The closing of Paramount’s...
- 3/13/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Apollo is a private equity firm that could end up pursuing some or all of Paramount’s assets, including streamers like Paramount+.
While there haven’t been any official statements, Paramount is still listening to offers behind the scenes. That’s confirmed by a new report from Axios, which reveals that a special committee formed by Paramount has been contacted about a possible takeover by the private equity firm Apollo Global Management. The news makes Apollo the fourth entity to have publicly reported interest in getting its hands on at least some of Paramount’s assets.
Apollo could pursue a full acquisition of Paramount or just some of the items on its list of assets. The firm could see pushback from regulators thanks to local CBS stations if talks proceed. Warner Bros. Discovery, billionaire media mogul Byron Allen, and a group led by Skydance Media’s David Ellison have also shown varying degrees of interest.
While there haven’t been any official statements, Paramount is still listening to offers behind the scenes. That’s confirmed by a new report from Axios, which reveals that a special committee formed by Paramount has been contacted about a possible takeover by the private equity firm Apollo Global Management. The news makes Apollo the fourth entity to have publicly reported interest in getting its hands on at least some of Paramount’s assets.
Apollo could pursue a full acquisition of Paramount or just some of the items on its list of assets. The firm could see pushback from regulators thanks to local CBS stations if talks proceed. Warner Bros. Discovery, billionaire media mogul Byron Allen, and a group led by Skydance Media’s David Ellison have also shown varying degrees of interest.
- 3/12/2024
- by David Satin
- The Streamable
Timed to SXSW, Freestyle Digital Media has picked up the North American rights to the music-driven documentary Finding Lucinda.
Directed by Joel Fendelman, the road movie follows singer-songwriter Ismay, also known as Avery Hellman, on a quest to track down her hero and music icon Lucinda Williams and the people and places that shaped her early career. The doc, which premiered at the Sidewalk Film Festival in Birmingham, is set for a fall 2024 release by the digital film distribution division of Byron Allen’s Allen Media Group.
Finding Lucinda features interviews with Charlie Sexton — who played with Williams when he was 11 years old and she was a little-known songwriter in Austin — Buddy Miller, Mary Gauthier, Josh Baca and Max Baca of Los Texmaniacs, Wolf Stephenson and John Grimaudo, Williams’ guitarist from her first record.
The film was written by Fendelman and Hellman, and produced by Liz McBee, Chuck Prophet and Jennifer Steinman Sternin.
Directed by Joel Fendelman, the road movie follows singer-songwriter Ismay, also known as Avery Hellman, on a quest to track down her hero and music icon Lucinda Williams and the people and places that shaped her early career. The doc, which premiered at the Sidewalk Film Festival in Birmingham, is set for a fall 2024 release by the digital film distribution division of Byron Allen’s Allen Media Group.
Finding Lucinda features interviews with Charlie Sexton — who played with Williams when he was 11 years old and she was a little-known songwriter in Austin — Buddy Miller, Mary Gauthier, Josh Baca and Max Baca of Los Texmaniacs, Wolf Stephenson and John Grimaudo, Williams’ guitarist from her first record.
The film was written by Fendelman and Hellman, and produced by Liz McBee, Chuck Prophet and Jennifer Steinman Sternin.
- 3/11/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Get ready for an exciting episode of “Entertainers: With Byron Allen” as Episode 6 hits the airwaves on ABC. This week’s lineup is packed with star-studded guests and captivating interviews that are sure to keep viewers entertained.
First up, acclaimed actress Regina King sits down with Byron Allen to discuss her latest project, “Shirley,” offering insights into her craft and experiences in the industry. Then, heartthrob Timothée Chalamet joins the conversation to talk about his role in “Dune: Part Two” and his rising stardom in Hollywood.
Next, the cast of “Drive-Away Dolls” takes center stage, giving viewers a behind-the-scenes look at the making of their hit show. Joining them are Tamsin Greig, Martin Scorsese, Beau Bridges, and other special guests, who share their stories and insights into the world of entertainment.
Additionally, comedians Justine Marino and Brandon Delsid bring the laughs with their witty banter and hilarious anecdotes. And don...
First up, acclaimed actress Regina King sits down with Byron Allen to discuss her latest project, “Shirley,” offering insights into her craft and experiences in the industry. Then, heartthrob Timothée Chalamet joins the conversation to talk about his role in “Dune: Part Two” and his rising stardom in Hollywood.
Next, the cast of “Drive-Away Dolls” takes center stage, giving viewers a behind-the-scenes look at the making of their hit show. Joining them are Tamsin Greig, Martin Scorsese, Beau Bridges, and other special guests, who share their stories and insights into the world of entertainment.
Additionally, comedians Justine Marino and Brandon Delsid bring the laughs with their witty banter and hilarious anecdotes. And don...
- 3/10/2024
- by Jules Byrd
- TV Everyday
Exclusive: Freestyle Digital Media, the digital film distribution division of Byron Allen’s Allen Media Group, has acquired North American rights to the romantic comedy The Zombie Wedding. The film is based on the eponymous interactive play and is the first title to launch the Weekly World News IP-driven studio slate of movie projects. Freestyle Digital Media is planning a fall 2024 release date.
The Zombie Wedding tells the story of what happens when a young New Jersey couple decides to go through with their dream wedding during the zombie apocalypse. Unfortunately, the bride is a human and the groom is a zombie. Both families are fearful, but the humans’ behavior is downright beastly. When the Zombies become brain-deprived, the ceremony takes a turn for the weird. Weekly World News reporters cover this wild, wacky wedding – while trying to get out alive.
Written by Greg D’Alessandro, The Zombie Wedding was directed...
The Zombie Wedding tells the story of what happens when a young New Jersey couple decides to go through with their dream wedding during the zombie apocalypse. Unfortunately, the bride is a human and the groom is a zombie. Both families are fearful, but the humans’ behavior is downright beastly. When the Zombies become brain-deprived, the ceremony takes a turn for the weird. Weekly World News reporters cover this wild, wacky wedding – while trying to get out alive.
Written by Greg D’Alessandro, The Zombie Wedding was directed...
- 3/9/2024
- by Bruce Haring
- Deadline Film + TV
Paramount has engaged in sale discussions with Reliance Industries Ltd., which also purchased a majority of Disney’s Star operations this year.
Reliance Industries Ltd. is continuing its wheeling and dealing. A new report from Bloomberg indicates that Paramount has opened discussions with the Indian media conglomerate regarding its 13% stake in Viacom18, an Indian media joint venture. If the deal closes, it would increase the clout of Reliance, which is already one of India’s top media firms.
Paramount could garner as much as $550 million from the sale of its stake in Viacom18. Reliance purchased a majority stake in Disney’s Star operations earlier this year. The move is Paramount’s latest effort to cut costs ahead of possibly being acquired. Get 30 Days Free $5.99+ / month paramountplus.com
For a Limited Time, Get a Month of Paramount+ With Code: HUJQ6R.
Bloomberg’s report indicates that no deal is in place...
Reliance Industries Ltd. is continuing its wheeling and dealing. A new report from Bloomberg indicates that Paramount has opened discussions with the Indian media conglomerate regarding its 13% stake in Viacom18, an Indian media joint venture. If the deal closes, it would increase the clout of Reliance, which is already one of India’s top media firms.
Paramount could garner as much as $550 million from the sale of its stake in Viacom18. Reliance purchased a majority stake in Disney’s Star operations earlier this year. The move is Paramount’s latest effort to cut costs ahead of possibly being acquired. Get 30 Days Free $5.99+ / month paramountplus.com
For a Limited Time, Get a Month of Paramount+ With Code: HUJQ6R.
Bloomberg’s report indicates that no deal is in place...
- 3/8/2024
- by David Satin
- The Streamable
Paramount’s top financial executive Naveen Chopra would not comment on M&a talks, except to say the company was always looking to create value for shareholders.
Paramount executives are well aware that merger and acquisition talks around the company have been fairly constant since December. Company CFO Naveen Chopra had the chance to discuss those reports directly at the 2024 Morgan Stanley Technology, Media and Telecom conference, and while he did not exactly offer a denial that the company was up for sale, he was more interested in discussing its plans to achieve domestic streaming profitability for Paramount+ by 2025.
Chopra would not comment in detail on talks that Paramount might be acquired by another company. Customers should expect Paramount+ to increase prices in the future, but likely not in 2024. Viewers should expect more streaming titles from Paramount+ to end up on Paramount-owned cable channels in the future. Get 30 Days Free $5.99+ / month paramountplus.
Paramount executives are well aware that merger and acquisition talks around the company have been fairly constant since December. Company CFO Naveen Chopra had the chance to discuss those reports directly at the 2024 Morgan Stanley Technology, Media and Telecom conference, and while he did not exactly offer a denial that the company was up for sale, he was more interested in discussing its plans to achieve domestic streaming profitability for Paramount+ by 2025.
Chopra would not comment in detail on talks that Paramount might be acquired by another company. Customers should expect Paramount+ to increase prices in the future, but likely not in 2024. Viewers should expect more streaming titles from Paramount+ to end up on Paramount-owned cable channels in the future. Get 30 Days Free $5.99+ / month paramountplus.
- 3/7/2024
- by David Satin
- The Streamable
It’s a new year for Paramount Global, but the company has not been able to leave its troubles in 2023 as it would undoubtedly have liked. The company faces myriad struggles in 2024, and they were all put into focus with the release of Paramount’s fourth quarter 2023 earnings report.
Within the report, Paramount revealed that it had gained 4.5 million streaming subscribers on Paramount+ between the start of October and the end of December, leading to a current total of 67.5 million. At the end of Q3 2023, Paramount+ had 63 million paid subscribers. This represents a 7.14% increase in subscribers over the previous quarter and a 20.75% jump year-over-year.
Paramount declined to provide details on the total users of its free ad-supported streaming service Pluto TV but noted that its two primary streamers increased their combined global viewing hours by 27% during the quarter.
Get 30 Days Free $5.99+ / month paramountplus.com
For a Limited Time, Get a...
Within the report, Paramount revealed that it had gained 4.5 million streaming subscribers on Paramount+ between the start of October and the end of December, leading to a current total of 67.5 million. At the end of Q3 2023, Paramount+ had 63 million paid subscribers. This represents a 7.14% increase in subscribers over the previous quarter and a 20.75% jump year-over-year.
Paramount declined to provide details on the total users of its free ad-supported streaming service Pluto TV but noted that its two primary streamers increased their combined global viewing hours by 27% during the quarter.
Get 30 Days Free $5.99+ / month paramountplus.com
For a Limited Time, Get a...
- 2/28/2024
- by David Satin
- The Streamable
Paramount Global lost $490 million from streaming in the final quarter of 2023, when Paramount+ added 4.1 million subscribers. The service now has 67.5 million subs; it is now expected to turn a profit in the U.S. in 2025.
Paramount+ revenue jumped 69 percent from the same quarter last year thanks to price hikes and that sub growth. The overall company fell a bit shy of Wall Street’s revenue mark but turned a slight profit. Though Q4 advertising revenue rose at Paramount’s streaming segment, the growth was nowhere near the line-item’s decline at linear TV.
Losses from (mostly) Paramount+ are nothing new. Paramount lost $238 million from its streaming business in the prior quarter (and $424 million in Q2 and a $511 million in Q1), when it gained 2.7 million Paramount+ subs. Now that 2023 is over and 2025 is expected to be profitable, we know that 2022 was the peak year for Paramount streaming losses. Paramount Global’s...
Paramount+ revenue jumped 69 percent from the same quarter last year thanks to price hikes and that sub growth. The overall company fell a bit shy of Wall Street’s revenue mark but turned a slight profit. Though Q4 advertising revenue rose at Paramount’s streaming segment, the growth was nowhere near the line-item’s decline at linear TV.
Losses from (mostly) Paramount+ are nothing new. Paramount lost $238 million from its streaming business in the prior quarter (and $424 million in Q2 and a $511 million in Q1), when it gained 2.7 million Paramount+ subs. Now that 2023 is over and 2025 is expected to be profitable, we know that 2022 was the peak year for Paramount streaming losses. Paramount Global’s...
- 2/28/2024
- by Tony Maglio
- Indiewire
David Zaslav won’t be deleting films at Paramount Pictures as well as Warner Bros after all, it seems.
It seems increasingly likely that Paramount Pictures will have a new owner within the next year or two. Chairperson Shari Redstone, who effectively decides the company’s fate, is all but certain to be selling her interests. But who’s going to come in and acquire Paramount Global?
There’s no shortage of interest. Skydance Entertainment, a production company that’s been making movies for Paramount, is said to be interested. Then there’s Byron Allen, a rich man I’ll never meet, who has offered around $14bn. Others are also said to be circling.
One name to scrub off the list? Warner Bros Discovery, the company run by The Most Popular Man In Hollywood™, David Zaslav.
Read more: does anyone really want David Zaslav in charge of Paramount?
The serial-deleter...
It seems increasingly likely that Paramount Pictures will have a new owner within the next year or two. Chairperson Shari Redstone, who effectively decides the company’s fate, is all but certain to be selling her interests. But who’s going to come in and acquire Paramount Global?
There’s no shortage of interest. Skydance Entertainment, a production company that’s been making movies for Paramount, is said to be interested. Then there’s Byron Allen, a rich man I’ll never meet, who has offered around $14bn. Others are also said to be circling.
One name to scrub off the list? Warner Bros Discovery, the company run by The Most Popular Man In Hollywood™, David Zaslav.
Read more: does anyone really want David Zaslav in charge of Paramount?
The serial-deleter...
- 2/28/2024
- by Simon Brew
- Film Stories
Warner Bros. Discovery is no longer pursuing an acquisition of Paramount Global, CNBC reported on Tuesday. Meanwhile, Skydance is still performing its due diligence on a potential merger with Paramount — or perhaps an acquisition of its parent company.
Wbd chief David Zaslav met with Paramount CEO Bob Bakish in December to discuss a potential merger. Those discussions heated up in January, but CNBC says those talks have cooled since.
When reached by IndieWire, Paramount and Warner Bros. Discovery each had no comment on this story.
Warner Bros. Discovery cannot be involved in any M&a activity until April 8, when the Reverse Morris Trust lock-up period from Discovery’s WarnerMedia deal with AT&T expires.
Paramount has set up a special committee with a financial adviser to sift through potential bids. It is likely the committee has already evaluated Byron Allen’s $30 billion bid; there is a contingent of analysts who believe Allen does not have sufficient funding.
Wbd chief David Zaslav met with Paramount CEO Bob Bakish in December to discuss a potential merger. Those discussions heated up in January, but CNBC says those talks have cooled since.
When reached by IndieWire, Paramount and Warner Bros. Discovery each had no comment on this story.
Warner Bros. Discovery cannot be involved in any M&a activity until April 8, when the Reverse Morris Trust lock-up period from Discovery’s WarnerMedia deal with AT&T expires.
Paramount has set up a special committee with a financial adviser to sift through potential bids. It is likely the committee has already evaluated Byron Allen’s $30 billion bid; there is a contingent of analysts who believe Allen does not have sufficient funding.
- 2/27/2024
- by Brian Welk
- Indiewire
Far from being in a position to make a big purchase, Wbd could be positioning itself for a potential sale as well.
Warner Bros. Discovery shattered the normally quiet tranquility of the holidays in late December when reports emerged that the company was in talks regarding a possible merger with Paramount Global. According to a new report from CNBC, those talks are now officially dead, as Wbd has walked away from the table following a disastrous fourth quarter 2024 earnings report.
Controlling interest in Paramount is still available, and the company has other potential suitors kicking its tires. Comcast has confirmed that it does not have an interest in acquiring Paramount, but could still work with the company in commercial partnerships. Some insiders believe Wbd is aligning its own affairs for a potential sale in the future. Get 30 Days Free $5.99+ / month paramountplus.com
For a Limited Time, Get a Month of Paramount+ With Code: HUJQ6R.
Warner Bros. Discovery shattered the normally quiet tranquility of the holidays in late December when reports emerged that the company was in talks regarding a possible merger with Paramount Global. According to a new report from CNBC, those talks are now officially dead, as Wbd has walked away from the table following a disastrous fourth quarter 2024 earnings report.
Controlling interest in Paramount is still available, and the company has other potential suitors kicking its tires. Comcast has confirmed that it does not have an interest in acquiring Paramount, but could still work with the company in commercial partnerships. Some insiders believe Wbd is aligning its own affairs for a potential sale in the future. Get 30 Days Free $5.99+ / month paramountplus.com
For a Limited Time, Get a Month of Paramount+ With Code: HUJQ6R.
- 2/27/2024
- by David Satin
- The Streamable
Paramount Global is on a watch by S&P Global for a possible credit rating downgrade over weaker cash flow concerns as the major studio pivots from linear TV to the streaming space.
“The margin and cash flows generated by Dtc [direct to consumer] streaming businesses, which are replacing the linear TV segment, will be lower in comparison due to greater required content spending, higher technology investments, and higher marketing and subscriber acquisition costs,” S&P ratings director Jawad Hussain said in a statement Friday.
Stock in Paramount Global, which is led by CEO Bob Bakish, slid by 53 cents, or 4.5 percent, to $11.18 on Friday during late-morning trading, with shares in the Hollywood studio last week taking another hit when Warren Buffett’s Berkshire Hathaway reported a one-third stake cut in the media conglomerate.
Last year, the studio’s credit rating was lowered from Bbb to Bbb-, and its debt is now under renewed scrutiny,...
“The margin and cash flows generated by Dtc [direct to consumer] streaming businesses, which are replacing the linear TV segment, will be lower in comparison due to greater required content spending, higher technology investments, and higher marketing and subscriber acquisition costs,” S&P ratings director Jawad Hussain said in a statement Friday.
Stock in Paramount Global, which is led by CEO Bob Bakish, slid by 53 cents, or 4.5 percent, to $11.18 on Friday during late-morning trading, with shares in the Hollywood studio last week taking another hit when Warren Buffett’s Berkshire Hathaway reported a one-third stake cut in the media conglomerate.
Last year, the studio’s credit rating was lowered from Bbb to Bbb-, and its debt is now under renewed scrutiny,...
- 2/23/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Paramount Global and Comcast have had talks about combining their Paramount+ and Peacock streaming services, according to a report in the Wall Street Journal.
The report, citing “people familiar with the situation,” said the media giants have discussed joining forces in streaming via a partnership or joint venture. Paramount and Comcast have declined to comment on the report.
The companies are already partners in SkyShowtime, the European streaming service launched in 2021 that serves markets where Peacock and Paramount+ are not yet available.
Paramount+, Paramount Global’s streaming flagship, had a global subscriber count of 63m as of last September. Comast...
The report, citing “people familiar with the situation,” said the media giants have discussed joining forces in streaming via a partnership or joint venture. Paramount and Comcast have declined to comment on the report.
The companies are already partners in SkyShowtime, the European streaming service launched in 2021 that serves markets where Peacock and Paramount+ are not yet available.
Paramount+, Paramount Global’s streaming flagship, had a global subscriber count of 63m as of last September. Comast...
- 2/16/2024
- ScreenDaily
Could Paramount+ and NBCUniversal’s Peacock join forces to take on the streaming sector’s bigger guns? Maybe — but while Paramount Global and Comcast, NBCU’s parent, recently discussed the possibility of uniting the services in some kind of a partnership or joint venture, there’s no imminent deal expected.
Talks between Comcast and Paramount Global were first reported Friday by the Wall Street Journal. Sources confirmed early discussions between the two, whose respective subscription-streaming platforms are significantly smaller than Netflix and Disney+. But those haven’t progressed beyond the spit-balling stage.
Reps for Paramount Global and Comcast declined to comment.
The two companies already are Jv partners for European streaming service SkyShowtime. Established in 2021, it’s designed as a streaming service for both Comcast and Paramount Global that targets European markets that weren’t already being served by Peacock or Paramount+.
Word of the talks about a possible Paramount...
Talks between Comcast and Paramount Global were first reported Friday by the Wall Street Journal. Sources confirmed early discussions between the two, whose respective subscription-streaming platforms are significantly smaller than Netflix and Disney+. But those haven’t progressed beyond the spit-balling stage.
Reps for Paramount Global and Comcast declined to comment.
The two companies already are Jv partners for European streaming service SkyShowtime. Established in 2021, it’s designed as a streaming service for both Comcast and Paramount Global that targets European markets that weren’t already being served by Peacock or Paramount+.
Word of the talks about a possible Paramount...
- 2/16/2024
- by Todd Spangler
- Variety Film + TV
Get ready to laugh until it hurts with “Comics Unleashed With Byron Allen,” airing on CBS at 1:37 Am on Friday, February 23, 2024. Hosted by the hilarious Byron Allen, this late-night comedy show brings together a stellar lineup of stand-up comedians for a night of non-stop laughter.
In this episode, viewers will be treated to the comedic talents of Jason Andors, Paul Mecurio, Roy Wood Jr., and Tammy Pescatelli. Each comedian brings their own unique style and perspective to the stage, promising a diverse range of jokes and punchlines that will have audiences rolling in the aisles.
From witty observations about everyday life to side-splitting anecdotes about the absurdities of the world, these comedians leave no stone unturned in their quest to entertain. Whether you’re a seasoned comedy fan or just looking for a good laugh, “Comics Unleashed With Byron Allen” is sure to deliver.
So grab your popcorn and...
In this episode, viewers will be treated to the comedic talents of Jason Andors, Paul Mecurio, Roy Wood Jr., and Tammy Pescatelli. Each comedian brings their own unique style and perspective to the stage, promising a diverse range of jokes and punchlines that will have audiences rolling in the aisles.
From witty observations about everyday life to side-splitting anecdotes about the absurdities of the world, these comedians leave no stone unturned in their quest to entertain. Whether you’re a seasoned comedy fan or just looking for a good laugh, “Comics Unleashed With Byron Allen” is sure to deliver.
So grab your popcorn and...
- 2/16/2024
- by Jules Byrd
- TV Everyday
Breaking: Paramount to Close Down Noggin; Entire Staff of Kids Educational Service Has Been Laid Off
Paramount is mired in financial difficulties and could be prepping finances for an acquisition.
It has been a difficult few months for Paramount Global as the media company has been beset by bankruptcy concerns, reports of the potential sale of the company, and the planned layoff of hundreds of employees. Those terminations have begun to hit Paramount employees and on Thursday, Kid Screen exclusively reported that the company has laid off the entire team working on kids educational streaming service Noggin and that the platform will be sunset in the coming months.
Key Points: No timeline has been confirmed about when Noggin will ultimately be shuttered. The majority of Noggin’s shows are already available on Paramount+, but no plan has been announced for its interactive titles. Noggin Parent company Paramount Global has been the subject of acquisition rumors lately. 30-Day Free Trial $7.99+ / month Noggin via amazon.com
Noggin is a...
It has been a difficult few months for Paramount Global as the media company has been beset by bankruptcy concerns, reports of the potential sale of the company, and the planned layoff of hundreds of employees. Those terminations have begun to hit Paramount employees and on Thursday, Kid Screen exclusively reported that the company has laid off the entire team working on kids educational streaming service Noggin and that the platform will be sunset in the coming months.
Key Points: No timeline has been confirmed about when Noggin will ultimately be shuttered. The majority of Noggin’s shows are already available on Paramount+, but no plan has been announced for its interactive titles. Noggin Parent company Paramount Global has been the subject of acquisition rumors lately. 30-Day Free Trial $7.99+ / month Noggin via amazon.com
Noggin is a...
- 2/15/2024
- by Matt Tamanini
- The Streamable
Stock in Paramount Global slid after Warren Buffett’s Berkshire Hathaway reported a one-third stake cut in the major studio.
Paramount Global shares fell by 36 cents, or nearly 3 percent, to trade at $12.83 on the Nasdaq Exchange at the market open on Thursday morning. That extended a late-day collapse in the studio’s stock Wednesday, falling by around 6 percent to $13.19 at one point in after-market trading.
Berkshire Hathaway in a securities filing late Wednesday said it had sold 30.4 million shares in Paramount Global, or around a third of its investment stake, during its fourth quarter to Dec. 31, 2023, according to a Bloomberg tally.
That stake sale coincided with market speculation that David Ellison’s Skydance Media and RedBird Capital were eying a potential takeover of Shari Redstone’s controlling stake in the conglomerate. Another media mogul, Byron Allen, also made a play for Paramount Global by revealing a $14.3 billion offer to buy...
Paramount Global shares fell by 36 cents, or nearly 3 percent, to trade at $12.83 on the Nasdaq Exchange at the market open on Thursday morning. That extended a late-day collapse in the studio’s stock Wednesday, falling by around 6 percent to $13.19 at one point in after-market trading.
Berkshire Hathaway in a securities filing late Wednesday said it had sold 30.4 million shares in Paramount Global, or around a third of its investment stake, during its fourth quarter to Dec. 31, 2023, according to a Bloomberg tally.
That stake sale coincided with market speculation that David Ellison’s Skydance Media and RedBird Capital were eying a potential takeover of Shari Redstone’s controlling stake in the conglomerate. Another media mogul, Byron Allen, also made a play for Paramount Global by revealing a $14.3 billion offer to buy...
- 2/15/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
CBS presents another uproarious episode of “Comics Unleashed With Byron Allen,” airing at 1:37 Am on Thursday, February 22nd. Get ready to laugh until your sides hurt as host Byron Allen welcomes a stellar lineup of comedic talent to the stage.
In this episode, viewers can look forward to hilarious performances from Nick Vatterott, Dan Ahdoot, Sydney Castillo, and Kristin Key. Each comedian brings their unique brand of humor and wit, promising an evening of non-stop laughter and entertainment.
From witty observations to side-splitting anecdotes, these talented comics will have audiences rolling in the aisles with their comedic prowess and sharp comedic timing.
Tune in to CBS at 1:37 Am on Thursday, February 22nd, to catch “Comics Unleashed With Byron Allen.” It’s the perfect late-night treat for anyone in need of a good laugh and a break from the daily grind. Don’t miss out on the fun!
Release...
In this episode, viewers can look forward to hilarious performances from Nick Vatterott, Dan Ahdoot, Sydney Castillo, and Kristin Key. Each comedian brings their unique brand of humor and wit, promising an evening of non-stop laughter and entertainment.
From witty observations to side-splitting anecdotes, these talented comics will have audiences rolling in the aisles with their comedic prowess and sharp comedic timing.
Tune in to CBS at 1:37 Am on Thursday, February 22nd, to catch “Comics Unleashed With Byron Allen.” It’s the perfect late-night treat for anyone in need of a good laugh and a break from the daily grind. Don’t miss out on the fun!
Release...
- 2/15/2024
- by Jules Byrd
- TV Everyday
Prepare for a night of laughter and fun with the latest episode of “Comics Unleashed With Byron Allen,” airing on CBS at 1:37 Am on Wednesday, February 21, 2024.
In this episode, host Byron Allen welcomes a talented lineup of comedians to the stage. Darren Carter, known for his high-energy performances and unique storytelling, kicks off the show with his hilarious observations on everyday life.
Joining Carter is Andy Woodhull, whose clever wit and sharp humor are sure to keep the audience entertained. Carmen Barton brings her infectious energy and comedic prowess to the mix, offering a fresh perspective on relationships and pop culture.
Rounding out the lineup is Chris Franjola, whose quick wit and comedic timing leave audiences in stitches. Together, these four comedians promise an evening of non-stop laughs and unforgettable moments.
Tune in to “Comics Unleashed With Byron Allen” on CBS at 1:37 Am on February 21, 2024, for a comedy showcase like no other.
In this episode, host Byron Allen welcomes a talented lineup of comedians to the stage. Darren Carter, known for his high-energy performances and unique storytelling, kicks off the show with his hilarious observations on everyday life.
Joining Carter is Andy Woodhull, whose clever wit and sharp humor are sure to keep the audience entertained. Carmen Barton brings her infectious energy and comedic prowess to the mix, offering a fresh perspective on relationships and pop culture.
Rounding out the lineup is Chris Franjola, whose quick wit and comedic timing leave audiences in stitches. Together, these four comedians promise an evening of non-stop laughs and unforgettable moments.
Tune in to “Comics Unleashed With Byron Allen” on CBS at 1:37 Am on February 21, 2024, for a comedy showcase like no other.
- 2/14/2024
- by Jules Byrd
- TV Everyday
Get ready for a night of laughter with “Comics Unleashed With Byron Allen” on CBS! Airing at 1:37 Am on Tuesday, February 20th, this episode features a fantastic lineup of comedic talent.
Join host Byron Allen as he welcomes a diverse group of comedians to the stage. Marianne Sierk, Mark Normand, Michael Gelbart, and Jasper Redd are all set to tickle your funny bone with their unique styles and hilarious observations.
From witty one-liners to insightful commentary on everyday life, each comedian brings their own brand of humor to the table, promising plenty of laughs and entertainment for viewers late into the night.
So grab your popcorn, settle in, and get ready to unleash your laughter with “Comics Unleashed With Byron Allen.” Tune in at 1:37 Am on Tuesday, February 20th, on CBS for an unforgettable night of comedy that will leave you in stitches!
Release Date & Time: 1:37 Am...
Join host Byron Allen as he welcomes a diverse group of comedians to the stage. Marianne Sierk, Mark Normand, Michael Gelbart, and Jasper Redd are all set to tickle your funny bone with their unique styles and hilarious observations.
From witty one-liners to insightful commentary on everyday life, each comedian brings their own brand of humor to the table, promising plenty of laughs and entertainment for viewers late into the night.
So grab your popcorn, settle in, and get ready to unleash your laughter with “Comics Unleashed With Byron Allen.” Tune in at 1:37 Am on Tuesday, February 20th, on CBS for an unforgettable night of comedy that will leave you in stitches!
Release Date & Time: 1:37 Am...
- 2/14/2024
- by Jules Byrd
- TV Everyday
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