NEW YORK, July 11, 2024 (GLOBE NEWSWIRE) -- Top law firm Bleichmar Fonti & Auld LLP is investigating whether the Paramount Global (Nasdaq:PARA) merger transaction is fair to minority shareholders, who are being offered up to $15 per share in exchange for their Paramount Class B Shares. Shareholders are encouraged to submit their information to find out about their rights. On July 7, 2024, Paramount Global announced that it had entered into a merger transaction with a consortium led by Skydance Media, RedBir ...

Core Insights - Nickelodeon is celebrating the 25th anniversary of SpongeBob SquarePants with a large-scale tribute at Comic-Con International: San Diego 2024, featuring immersive experiences and panels [10][21] - The event includes a 1,800 square-foot booth recreating the "Help Wanted" episode, along with various interactive activities and merchandise [10][16] - Paramount+ serves as the streaming home for SpongeBob fans, offering extensive Bikini Bottom content [15] Nickelodeon Overview - Nickelodeon, now in its 45th year, is the leading entertainment brand for children, encompassing television programming, consumer products, digital experiences, and feature films [7] - The brand has built a diverse global business by prioritizing children's interests [7] SpongeBob SquarePants Highlights - Since its launch on July 17, 1999, SpongeBob SquarePants has been the most-watched animated series for 22 consecutive years, with a global fan base and extensive merchandise [21] - The show has been translated into over 30 languages and reaches more than 90 million viewers quarterly [21] Comic-Con Activities - The Comic-Con booth features interactive elements such as a slow-motion video opportunity, a virtual game, and a retail area for exclusive merchandise [17][20] - Nickelodeon will host two panels, including a special celebration of SpongeBob's origins and a discussion on the Avatar series [11][19] Paramount+ Overview - Paramount+ is a direct-to-consumer streaming service that combines live sports, breaking news, and a vast library of entertainment content from various brands, including Nickelodeon [8]

Core Viewpoint - Paramount Global has entered into a merger transaction with a consortium led by Skydance Media, RedBird Capital, and the Ellison Family, with minority shareholders having no voting rights due to National Amusements controlling nearly 80% of the voting stock [1]. Summary by Sections Merger Transaction Details - The merger transaction offers Class A shareholders the option to receive $23 per share in cash, while Class B shareholders are offered $15 per share, which may be prorated if too many shareholders opt for cash [9]. - The disparity in treatment between Class A and Class B shareholders raises concerns about fairness and potential violations of Delaware law [9]. Legal Investigation - Bleichmar Fonti & Auld LLP is investigating the fairness of the merger transaction for minority shareholders, particularly focusing on the treatment of Class B shareholders [8]. - Shareholders are encouraged to submit their information to explore their rights and potential legal options [2][3]. Legal Representation - The representation by BFA is on a contingency fee basis, meaning shareholders will not incur any costs unless the case is successful [10].

The merger agreement includes a 45-day "go-shop" period, which permits the Special Committee and its representatives to actively solicit and consider alternative acquisition proposals. There can be no assurance that this process will result in a superior proposal, and the Company does not intend to disclose developments with respect to the go-shop process unless and until it determines such disclosure is appropriate or is otherwise required. Further information regarding terms and conditions contained in th ...

Core Viewpoint - The merger between Skydance and Paramount aims to create "New Paramount," a media and technology leader, enhancing content quality and profitability while preserving Paramount's legacy and American jobs [1][3][9]. Transaction Overview - Paramount Class A stockholders will receive $23 per share, while Class B stockholders will receive $15 per share in cash or stock election, totaling $4.5 billion in cash consideration available to public shareholders [1][14]. - The transaction values Skydance at $4.75 billion, with Skydance equity holders receiving 317 million Class B shares valued at $15 each [1][37]. - The merger represents a 48% premium for Class B stock and a 28% premium for Class A stock based on prices as of July 1, 2024 [2][38]. Strategic Goals - New Paramount will focus on delivering high-quality content and improving profitability, stability, and independence for creators, while investing in growth areas across various entertainment platforms [2][41]. - The transaction combines Skydance's financial resources and technological expertise with Paramount's iconic intellectual property and extensive film and television library [2][11]. Leadership and Management - David Ellison will serve as Chairman and CEO of New Paramount, with Jeff Shell as President, bringing extensive operational experience to drive growth [8][40]. - The new leadership team aims to enhance Paramount's brands and improve profitability through strategic initiatives and technological advancements [8][36]. Financial Implications - Skydance IG will invest up to $6 billion, including $2.4 billion for acquiring National Amusements and $1.5 billion to strengthen Paramount's balance sheet [6][33]. - The merger is expected to stabilize Paramount's financial position and allow for greater cash flow growth [17][41]. Legacy and Future Outlook - The merger preserves Paramount's over 100-year legacy as a leading production company and aims to secure a prosperous future for the creative community [3][10]. - The transaction is anticipated to close in the first half of 2025, subject to regulatory approvals [43].

Play.Works expands its CTV game line-up with the fun-filled adventure of "SpongeBob Bounce" Announcing the all-new SpongeBob SquarePants Bounce game from Play.Works on Connected TV's! (PRNewsfoto/Play.Works) Jonathan Boltax, CEO of Play.Works, shares his excitement: "We're thrilled to bring SpongeBob SquarePants to living rooms worldwide with the 'SpongeBob Bounce' game. This addition enriches our Connected TV games catalog with globally recognized and entertaining characters and aims to attract both longti ...

Paramount Global (PARA) recently announced that it is set to increase prices for most Paramount+ plans. The ad-free Paramount+ With Showtime plan will increase $1 to $12.99 per month, while the Paramount+ Essential plan with ads will increase $2, reaching $7.99 per month for new subscribers. These new rates will be effective starting Aug 20 for all new customers. Existing subscribers to Paramount+ With Showtime will see the new price on their next billing date on or after Sep 20. Paramount+ Essential monthl ...

Core Insights - The article emphasizes the importance of identifying top stocks at 52-week lows for growth opportunities, highlighting three companies that have shown strong strategic ambitions and financial performance in response to macroeconomic changes [1][3]. Company Summaries Yum China (YUMC) - Yum China is a leading restaurant company in China, with over 89% of its sales coming from digital ordering, which is a key growth driver [4]. - The company has seen a 12% annual growth in delivery sales, contributing to 38% of sales at KFC and Pizza Hut, supported by an effective delivery network and strong digital presence [4][5]. - Yum China is adapting to consumer preferences by offering both premium and affordable meal options, enhancing customer loyalty with a member base of 485 million [5][6]. Paramount (PARA) - Paramount is a media and entertainment giant that experienced a 17% increase in advertising revenue in Q1 2024, significantly driven by events like Super Bowl LVIII [6][8]. - The company reported a 14% increase in TV media advertising revenue, with sports programming contributing positively to this growth [6]. - Paramount generated $209 million in free cash flow in Q1 2024, marking an increase of over $750 million compared to Q1 2023, supported by solid advertising revenue growth and debt reduction [8]. SoFi (SOFI) - SoFi operates in the digital financial services sector, increasing its tangible book value by $608 million to $4.1 billion, indicating strong financial health [9][11]. - The company added 8.1 million new members in Q1 2024, with a 44% growth year-over-year, demonstrating effective cross-selling and member engagement [10][11]. - SoFi's overall capital ratio improved to 17.3%, well above the required 10.5%, providing a solid foundation for future growth [9].

NEW YORK, June 24, 2024 /PRNewswire/ -- Paramount Global and The Described and Captioned Media Program (DCMP) today announced an unprecedented partnership that 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. The multi-year agreement commences with several Nickelodeon series, including Bossy Bear, Tiny Chef Show, Blues Clues & You! and Santiago of the Seas and will include distribution via DCMP's ...

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