Paramount Global shares slipped Tuesday after top executives laid out a sweeping restructuring plan that includes $500 million in annualized cost cuts — as the company’s future remains murky amid talks of a potential merger with Skydance Media. The executives — CBS President and CEO George Cheeks; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios; … Read more
Paramount Global and Skydance have agreed on terms of a merger between the two entertainment companies that’s valued at $8 billion, according to a report. Skydance, the media company founded by David Ellison, has agreed under the proposed deal with a Paramount special committee to pay $2 billion for Paramount’s parent company, National Amusements, which … Read more
A special committee of Paramount Global’s board of directors reportedly agreed to recommend a $3 billion takeover bid from Skydance Media — possibly bringing to an end the months-long drama over the fate of the struggling entertainment giant. Skydance — run by tech heir David Ellison, the son of billionaire Oracle co-founder Larry Ellison — has … Read more
Remember Byron Allen? You know, the voluble media executive who got Paramount shareholders all juiced up when he said he wanted to buy the company from Shari Redstone for a cool $30 billion. Sounded like a great deal since Paramount’s market cap at just below $10 billion reflects the melting ice cube of much of … Read more
Paramount Global will likely not extend its 30-day exclusivity talks with Skydance Media to strike a deal as Sony Pictures Entertainment and private equity firm Apollo Global Management await a response to their $26 billion bid to buy the entertainment giant, according to a person familiar with the matter. A special committee of the Paramount board, created to … Read more
Sony Pictures and the private equity firm Apollo Global Management have expressed interest in buying Paramount Global for $26 billion, according to a person familiar with the details. Sony would be the majority shareholder and Apollo would have a minority stake, according to the person, who requested anonymity because details of the offer have not … Read more
Paramount Global is reportedly considering dumping longtime CEO Bob Bakish and replacing him with a group of executives as the entertainment giant inches closer to a deal with Skydance Media. Bakish, who has been privately critical of the company’s talks to merge with Skydance, would be replaced on an interim basis with an “Office of … Read more
Sony Group and Apollo Global Management are in talks to team up on a bid for Paramount Global, sources told The Post on Thursday. Paramount, controlled by media heiress Shari Redstone, has been conducting exclusive talks with Skydance on a potential deal — which has drawn backlash from investors who fear their shares in the … Read more
Four board members at Paramount Global will step down amid reports that the entertainment giant controlled by Shari Redstone was discussing a merger with Skydance Media, the company disclosed in its proxy filing on Thursday. Former Spotify executive Dawn Ostroff, Sony Entertainment ex-president Nicole Seligman, Redstone attorney Rob Klieger and investment banker Frederick Terrell will not stand for … Read more
Skydance Media CEO David Ellison has made a preliminary offer to buy National Amusements, the holding company of the Redstone family, as a way to take control of Paramount Global, Bloomberg News reported Wednesday. Ellison, son of Oracle founder Larry Ellison, has held discussions with Paramount about merging it with Skydance Media, after he takes … Read more
