[ Another big Hollywood name is rooting for a Paramount-Skydance deal as Jeffrey Katzenberg says that outcome would be “a great win for Paramount and for people in the industry.” Speaking a the Axios BFD Talks: LA this evening, the DreamWorks co-founder and former Walt Disney Studios head acknowledged that the situation is complicated. “There’s … Read more
[ Paramount Global says Chris McCarthy is the company’s “interim principal executive officer,” a necessity required by the SEC that apparently does not signal he has more decision-making power among a trio of top executives who stepped up to replace Bob Bakish this week in a new Office of the CEO. Security & Exchange Commission … Read more
[ The clock is ticking down to midnight, the end of a month-long exclusive negotiating window between Paramount Global and Skydance Media. The David Ellison company has been circling Paramount for months and lobbed several offers to buy out Shari Redstone‘s controlling stake, backed by Oracle co-founder Larry Ellison and Gerry Cardinale’s RedBird Capital. The … Read more
[ Paramount has just unleashed its first quarter financials with although all eyes are on a shakeup in the C-suite. Revenue was higher across the board, albeit a hair shy of Wall Street expectations. Operating losses narrowed After a bleak Q4, advertising jumped 17%, buoyed by Super Bowl XVIII on CBS in February. The studio … Read more
[ David Ellison’s Skydance has presented Paramount Global board’s special committee with a revised offer to take control of the company, Deadline has learned. Terms weren’t immediately available, story will be updated when they are. The new proposal is likely designed to make a deal more palatable to Paramount investors beyond controlling shareholder Shari Redstone, … Read more
[ 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. News Bakish might exit started circulating Friday. Paramount’s controlling shareholder and executive chair Shari Redstone, while once clearly on the same page … Read more
[ 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. If exclusive talks with Skydance bear fruit, there likely would not be a role for Bakish in the combined company, with Skydance chief David Ellison slated to serve as … Read more
[ 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, … Read more
[ 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. The beleaguered stock ended the day at $12.44 after registering more than twice its normal trading volume. Shares reached their highest point since February, offering fresh evidence that … Read more
[ Paramount Global‘s beleaguered stock faltered Monday as investors fretted over the ongoing talks between controlling shareholder National Amusements Inc. and Skydance Media. As the moon blocked out the sun across a swath of the U.S. in a total eclipse, the stock behaved accordingly, falling almost 8% on heavier-than-average trading volume to finish at $11.06. … Read more
