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The Latest Breaking News from Paramount Global

Paramount Global to cut 15% of its US workforce before Skydance merger

Company behind Paramount Pictures, Nickelodeon and CBS writes down value of its cable networks by nearly $6bn

The Guardian - US

Paramount Reports $5.4 Billion Loss As It Writes Down the Value of its Cable Networks

Direct-to-consumer business shows $26 million profit

Multichannel News

Stock Index Futures Rise After Weekly Job Numbers are Released

September S&P 500 E-Mini futures (ESU24) are down -0.10%, and September Nasdaq 100 E-Mini futures (NQU24) are up +0.03% this morning as market participants geared up for U.S. weekly jobless claims data and the next round of quarterly results while also awaiting remarks from a Federal Reserve official.

Barchart

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Stocks Muted Before the Open as Investors Await U.S. Jobs Data and Earnings Reports, Fed Speak on Tap

Barchart

Are Wall Street Analysts Bullish on Paramount Global Stock?

As Paramount Global underperforms the broader market, Wall Street analysts remain cautious about the stock’s prospects.

Barchart

‘Apex’ Predator Feeds on Media Business Press With Apparent BusinessWire Press-Release Hoax About Rival Paramount Bid

Calling itself a 'conglomerate of financial institutions and financial services providers,’ the so-called ‘Apex Capital Trust’ convinced Bloomberg, Reuters, the Penkse Showbiz Trades and other big-name pubs that it made a rival $43 billion all-cash bid for Paramount

Broadcasting & Cable

Norah O’Donnell announces plans to step down from CBS Evening News

Veteran news anchor said ‘it’s time to do something different’ as she gears up for coverage of the presidential election for a seventh time

The Independent UK

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Paramount Global And Nexstar Media Renew Affiliation Agreements

Deal covers CBS-affiliated TV stations in 42 markets owned by Nexstar and Mission Broadcasting; Paramount-owned stations in Miami and Detroit will become CW affiliates

TV Tech

Paramount Stations To Become CW Affiliates, Including a Return in Detroit

Agreements are part of broader affiliation deal between Nexstar and Paramount Global

Broadcasting & Cable

Paramount Shareholder Challenges Skydance Merger in Court

A Paramount Global shareholder filed a lawsuit against a pending deal between Paramount and Skydance Media.

Player One

What to Expect From Paramount Global's Q2 2024 Earnings Report

With Paramount Global expected to release its Q2 earnings next month, analysts project a double-digit bottom-line growth.

Barchart

David Ellison's Paramount merger cements the era of the 'nepo CEO'

David Ellison's Skydance Media is buying Paramount Global with help from his billionaire dad, Larry Ellison, founder of Oracle. To earn respect, he'll have to walk a tightrope.

Fortune

Ingrid Ciprian-Matthews, CBS News President, To Step Down

Veteran has been in president role for less than a year

Broadcasting & Cable

Skydance May Not Be Able To Rescue Paramount From Junk-Bond Status, Credit Rating Agencies Say

A lot of questions remain unanswered after David Ellison’s big deal, but Moody’s said it’s still ‘possible’ it could downgrade the conglomerate in the coming months

Broadcasting & Cable

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Inverse

A Huge Hollywood Upheaval Could Turn Star Trek Into the Next MCU

Paramount's merger with Skydance could completely restructure the Final Frontier. Here's how Star Trek could be impacted by this massive game-changer.

Multichannel News

David Ellison Spells Out Goals for ‘New Paramount’

Plan is to create a media-technology hybrid and cut costs by $2 billion

TV Tech

Skydance, Paramount to Merge in $8B Deal

Merged venture, named ‘New Paramount’ will be led by David Ellison as Chairman/CEO and Jeff Shell as President

International Business Times

It's Official: Skydance Media And Paramount Global Announce Merger In Groundbreaking Deal

Shari Redstone, Paramount's non-executive chair, will relinquish the family's controlling stake through a complex transaction that will lead to the merger.

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The Independent UK

Entertainment giant Paramount agrees to a merger with Skydance

Entertainment giant Paramount, which owns CBS and was behind blockbuster films such as “Top Gun” and “The Godfather” has agreed to merge with Skydance

Multichannel News

Paramount Global Agrees to Merge with David Ellison’s Skydance, Jeff Shell Named President

Complex deal is valued at around $8 billion and will take control over Par out of Redstone hands for the first time since 1987

TechRadar

Paramount and Skydance have officially merged – here's what that means for Paramount Plus

A billion dollar deal to merge Paramount Global with Skydance Media has been reached – here's what that means for its streaming services.

Barchart

S&P Futures Tread Water Ahead of FOMC Meeting Minutes, U.S. Economic Data on Tap

September S&P 500 E-Mini futures (ESU24) are trending up +0.05% this morning as market participants looked ahead to the release of the Federal Reserve’s June policy meeting minutes while also gearing up for a slew of U.S. economic data to gain insights into the policy outlook.

Broadcasting & Cable

David Ellison Forges New Agreement To Buy Paramount Holding Company National Amusements

Two sides also reportedly agree to 45-day period during which NAI and the Redstone family can shop for better offers

TV Tech

Paramount Global, DCMP Ink Agreement to Provide Captions for Nickelodeon Shows

The partnership ensures hundreds of hours of Nickelodeon's hit animated and live-action series will be accessible to families with young viewers and students with disabilities

Broadcasting & Cable

Venu Sports Announces Management Team Under CEO Pete Distad

Top hires for Disney, Fox and WBD JV include former FanDuel and Hulu exec Brian Borkowski as CMO, and ex Apple, Disney and Hulu operative Tim Connolly as chief business officer

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