Paramount Global executives have held internal talks about settling a lawsuit filed by President-elect Donald Trump over CBS News’ interview with Vice President Kamala Harris, according to a report. Paramount, the parent company of CBS, is hoping to close its planned merger with Skydance Media in the coming months but has been sued by Trump … Read more
Famed money manager Mario Gabelli, one of the largest shareholders in Paramount Global, urged the Federal Communications Commission to halt its review of the transfer of broadcast licenses in the media giant’s $8 billion merger with Skydance. Gabelli requested the delay so that he could probe for “potential fiduciary and/or federal securities violations” against Paramount’s … Read more
Paramount has been mostly out of the news lately, but that doesn’t mean nothing is going on behind the scenes in its messy, years-long attempt to sell itself before settling on a merger with Skydance Media. As is already known, Paramount owner Shari Redstone extracted a significant, nearly $2 billion payday before agreeing to a … Read more
Edgar Bronfman Jr. is open to having Shari Redstone remain involved with Paramount Global if its special committee accepts his consortium’s bid for National Amusements, the controlling shareholder, CNBC reported Friday. On Wednesday, the veteran media executive sweetened his bid to take over Paramount offering $6 billion for National Amusements and a minority stake in the media conglomerate. … Read more
Skydance Media is accusing Paramount Global’s special committee of directors of breaching the terms of its deal by extending the period of time when it can engage with other bidders, the Wall Street Journal reported on Thursday. This comes after veteran media executive Edgar Bronfman Jr. sweetened his bid to take over Paramount offering $6 billion for its controlling shareholder National Amusements … Read more
Veteran media executive Edgar Bronfman sweetened his offer to $6 billion for National Amusements and a minority stake in Paramount Global, according to a person familiar with the matter He had previously offered $4.3 billion, according to Reuters sources. Shares of Paramount rose more than 2.3% after the bell. The competing offer for the home of Paramount Pictures, the CBS broadcast network … Read more
Billionaire investor Mario Gabelli’s investment firm is seeking more details about the valuation of National Amusements assets, the investor told Reuters on Friday, signaling the firm may challenge a landmark entertainment industry deal inked this week. Skydance Media and Paramount Global agreed on Sunday to merge, in a deal that would entail Skydance acquiring the Redstone … Read more
Billionaire Shari Redstone was all smiles Tuesday as she joined other business, tech and media moguls who jetted into Sun Valley, Idaho, ahead of Allen & Co.’s annual “summer camp for billionaires.” The energetic Redstone, wearing a red blazer and sunglasses, was among the first to arrive at the conference – known as a hotbed … Read more
Shari Redstone changed her mind, again! The media heiress reached a preliminary agreement to sell her controlling stake in Paramount Global to Skydance Media – just weeks after she walked away from a deal between the two sides, according to multiple reports Tuesday. Redstone, who controls the entertainment giant through her 77% stake in family … Read more
Maybe the biggest tell that traditional media is heading for the ICU isn’t that after months of intense negotiations, Shari Redstone did something weird and refused to sell her fading empire to a company known as Skydance. No, it’s that a lot of smart media people, including those involved in the negotiations, believe that when … Read more
