The FCC ‘has engaged’ with executives at Paramount in order to discuss what will help win approval for its proposed deal to merge with Skydance Media. Conversations between FCC officials and Paramount executives involve the media company’s diversity and equity initiatives (DEI), according to the WSJ. FCC Chairman Brendan Carr has openly criticised DEI, recently […]
Paramount Global missed revenue expectations in its Q4 results as a continued decline in its cable TV unit dimmed higher-than-expected subscriber growth for its Paramount+ streaming platform. The company, which is planning to merge with Skydance Media, reported a 5 per cent revenue increase in Q4 2024, reaching $7.98 billion (€7.67bn). However, full-year revenue declined […]
Netflix and Skydance Sports have partnered on a documentary series about the life and career of Spanish sports and tennis icon Rafael Nadal. The series will include unprecedented access with Nadal throughout his comeback to competitive play in the 2024 season after sitting out much of 2023 due to injury. The docuseries will spotlight Nadal’s […]
Paramount Global posted mixed Q3 numbers as its TV and film divisions slipped, but there was solid subscription growth and profits for streaming service Paramount+. Revenues for Q3 were $6.73 billion (€6.26bn), down 6 per cent YoY. Adjusted OIBDA was up 20 per cent at $858 million. D2C revenue was a high spot, up 10 […]
Paramount, in the process of being acquired by Skydance Media, is already initiating its plan to reduce expenses by $500 million. The first round of staff cuts took place in August. Joint CEOs George Cheeks, Chris McCarthy and Brian Robbins said that after the current round, 90 per cent of the planned staff reductions will […]
Documents filed with the FCC show that Larry Ellison, father of Skydance’s David Ellison, will take over the controlling interest from Shari Redstone. The document, obtained by The New York Times, lists Oracle founder Larry Ellison at the top of an organisational chart of the companies that will acquire the majority of Paramount’s voting interest […]
Edgar Bronfman Jr has dropped a $6 billion (€5.3bn) bid for Paramount, leaving the way clear for the Skydance offer. “It was a privilege to have the opportunity to participate,” Bronfman said. “While there may have been differences, we believe that everyone involved in the sale process is united in the belief that Paramount’s best […]
Edgar Bronfman Jr has raised up to $5.5 billion (€4.9bn) to boost his last gasp offer for Paramount and gatecrash the agreed deal with Skydance Media, reports FT. Bronfman tabled an initial $4.3 billion bid on August 19th – the deadline for the expiration of Paramount’s 45-day ‘go shop’ period. But the former Warner Music […]
Paramount Television Studios is shutting down after Paramount Global began the latest round of cost-cutting ahead of the expected merger with Skydance Media. The company is looking to make some $500 million (€453.5m) in cuts and already laid off approximately 800 staff back in February. “This has been a challenging and transformative time for the […]
Paramount Global’s shares jumped 6 per cent as investors were upbeat at the media group’s streaming business, even as the company joined rival Warner Bros Discovery in writing down the value of its TV assets. Paramount took a Q2 impairment charge of $5.98 billion on its cable networks. Full year revenue dropped 11 per cent […]