Paramount Global
As Paramount Steers Into Unknown, David Ellison Woos A-Listers to Boost Flagging Bid
Whatever fate befalls Paramount Global after the smoke clears, one of the Hollywood Trivial Pursuit questions someday will be which heavy hitters have issued statements of support for Skydance’s proposed acquisition of Paramount’s holding company, National Amusements Inc. — and which didn’t. Even as the Paramount special committee passed on the offer from David Ellison’s […]
- By
James Cameron and Ari Emanuel Offer Support of Skydance’s Bid for Paramount
Both James Cameron and Ari Emanuel offered their support this weekend of Skydance’s bid to acquire Paramount. Though reports earlier this week suggested that Paramount’s special board committee was leaning against accepting Skydance’s offer, Cameron and Emanuel told The Financial Times on Sunday that they supported Skydance founder David Ellison’s potential leadership. The deal, first […]
- By
Shari Redstone v. Shareholders: What Does Paramount Owe Investors?
Although exclusive talks between Paramount Global and Skydance Media are expected to end without a deal, questions linger about controlling shareholder Shari Redstone’s duty to minority investors, some of whom have vocally opposed the merger on grounds that their interests have taken a backseat in negotiations. A Paramount investor, in a complaint filed on April […]
- By
Paramount Appears Set to Back Away From Skydance Deal, Leaving Uncertain Path Forward
After weeks of negotiations, Skydance’s proposed merger with Paramount Global appears to be on the ropes. Paramount’s special board committee appears to have cooled on the offer, which would have seen the David Ellison-led studio, joined by financial partners RedBird Capital and KKR, acquire controlling shareholder Shari Redstone’s stake in the company and then merge […]
- By
As Paramount Drama Kicks Into High Gear, Wall Street Tries to Make Sense of “Volatile” Stock
The board room and executive suite drama at Paramount Global escalated on Monday, with Bob Bakish leaving his role as CEO and a trio of executives taking over just days before an exclusive negotiating window for a sale to David Ellison’s SkyDance Media and partners closes. Veteran company leaders Chris McCarthy, George Cheeks and Brian […]
- By
Paramount “Office of the CEO” Trio’s Memo to Staff: A “New Long-Term Plan” Is Being Finalized
In a memo to employees Monday, Chris McCarthy, George Cheeks and Brian Robbins — who are together running Paramount after the ouster of CEO Bob Bakish — thanked Bakish for his tenure at the company, while signaling a new strategy ahead. Paramount announced Bakish was out at the company Monday, just ahead of releasing first-quarter earnings, […]
- By
Paramount’s New “Office of the CEO” Has a Big First Task: Not Letting CBS Go Dark With Charter
As a buyer group led by David Ellison’s Skydance Media aims to iron out a potential deal to take over Paramount Global, many eyes on Wall Street are also watching carriage talks between the entertainment conglomerate and cable giant Charter Communications. On April 30, that deal expires. Last year, Charter played hardball with Disney in […]
- By
Paramount+ Hits 71M Subscribers as Streaming Loss Narrows to $286M
Paramount Global unveiled its first-quarter financial results Monday as controlling shareholder National Amusements, led by Shari Redstone, is in exclusive sale negotiations with a group led by David Ellison’s Skydance, as well as Gerry Cardinale’s RedBird Capital and KKR. During the latest quarter, the company hit 71 million Paramount+ streaming subscribers worldwide, up from 67.5 […]
- By
Bob Bakish Officially Ousted as Paramount CEO; Trio of Executives to Take Over
Paramount Global CEO Bob Bakish is officially out at the company. The entertainment conglomerate — in the middle of a sales process — is turning to a handful of top executives to run the company. Chris McCarthy, George Cheeks and Brian Robbins will make up an “Office of the CEO,” running Paramount on a day-to-day […]
- By
Paramount’s Make-or-Break Deal Week Begins
It’s the moment of truth or consequences for Paramount Global. The entertainment giant, controlled by Shari Redstone via her family’s National Amusements holding company, is in the middle of arguably the most fateful week in its history, with critical business decisions set to collide. On Sunday, the group of David Ellison’s Skydance, Gerry Cardinale’s RedBird […]
- By
Paramount CEO Bob Bakish’s 2023 Pay Falls to $31.3M
Paramount Global CEO Bob Bakish saw total compensation in 2023 of $31.3 million, compared with $32.0 million in 2022. The company filed its annual proxy statement Monday, disclosing the latest pay packages for the Paramount boss and other top executives. Bakish’s compensation package in 2023 included a base salary of $3.1 million, as it has […]
- By
Sony and Apollo Weigh Joint Bid for Paramount Global
Even as Paramount Global continues to hold exclusive talks with David Ellison’s Skydance and Gerry Cardinale’s Redbird Capital, another potential buyer group is considering its own moves. The Hollywood Reporter has confirmed that executives at Sony Corp., including Sony Pictures chief Tony Vinciquerra, have been in touch with Apollo Global Management about making a joint […]
- By