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BET MEDIA GROUP AND FULWELL ENTERTAINMENT'S SPRINGHILL ANNOUNCE "106 & SPORTS" -- WHERE SPORTS MEETS CULTURE, STYLE AND REAL TALK
Prnewswire· 2025-06-12 18:45
Cam Newton and Ashley Nicole Moss to Co-Host New Weekly Series, Officially Announced from "BET Awards" 2025 Stage[CLICK HERE FOR PHOTOS][VIDEO LINK: Cam Newton and Ashley Nicole Moss unveil BET 106 & Sports]NEW YORK, June 12, 2025 /PRNewswire/ -- BET Media Group, the largest media company dedicated to championing Black culture, and SpringHill, the award-winning studio within Fulwell Entertainment, proudly announce 106 & Sports—a bold new weekly series where the biggest stories in sports meet culture, fashio ...
电影制片商派拉蒙全球提议,按1500万美元了结关于CBS的官司。然而,该公司与美国总统特朗普团队之间的意见分歧仍然悬殊。特朗普的团队主张对方支付超过2500万美元。(华尔街日报)
news flash· 2025-05-28 22:46
电影制片商派拉蒙全球提议,按1500万美元了结关于CBS的官司。 然而,该公司与美国总统特朗普团队之间的意见分歧仍然悬殊。 特朗普的团队主张对方支付超过2500万美元。(华尔街日报) ...
Paramount (PARAA) - 2025 Q1 - Quarterly Report
2025-05-08 21:19
Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-09553 Paramount Global (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...
Paramount (PARAA) - 2025 Q1 - Quarterly Results
2025-05-08 20:06
EARNINGS PRESS RELEASE | May 8, 2025 PARAMOUNT REPORTS Q1 2025 EARNINGS RESULTS Powerful Slate of Hit TV Series, Films & Sports Fueled Strong Content Performance Streaming Continues Strong Momentum Focused Execution Delivered Results Across the Business Skydance Transactions Expected to Close in First Half of 2025 STATEMENT FROM GEORGE CHEEKS, CHRIS MCCARTHY & BRIAN ROBBINS, CO-CEOS We are very pleased with our performance in the quarter driven by a powerful content slate and focused execution. Paramount+ a ...
Paramount (PARAA) - 2024 Q4 - Annual Report
2025-02-26 22:19
Direct-to-Consumer Performance - Paramount's Direct-to-Consumer segment generated approximately 26% of consolidated revenues in 2024[27] - Paramount+ achieved a 15% year-over-year subscriber growth, reaching 77.5 million subscribers as of December 31, 2024[20] - Direct-to-Consumer segment generated approximately 26% of consolidated revenues in 2024, up from 22% in 2023 and 16% in 2022[41] - In 2024, Direct-to-Consumer revenues were comprised of approximately 72% from subscriptions and 28% from advertising[40] - Paramount's subscriber growth on Paramount+ reached 77.5 million, a 15% increase year-over-year as of December 31, 2024[20] Streaming Services Growth - Pluto TV grew 8% in hours watched for the year, solidifying its position as a leader in the FAST streaming service market[20] - Pluto TV experienced an 8% growth in hours watched during 2024, solidifying its position as a leading free advertising-supported streaming service[20] - Pluto TV offers a broad range of curated live linear channels and on-demand content across various genres[43] Film and Entertainment Success - Paramount Pictures released five number one films at the domestic box office, with the Sonic the Hedgehog series generating $1.2 billion globally[21] - Filmed Entertainment generated approximately 10% of consolidated revenues in 2024, consistent with 2023, but down from 13% in 2022[45] - Theatrical, licensing, and other revenues accounted for approximately 27%, 72%, and 1% of Filmed Entertainment's total revenues in 2024, respectively[45] Television Network Performance - CBS maintained its position as America's number one broadcast network in primetime for the 16th consecutive season, featuring eight of the top 10 broadcast series[22] - CBS News saw a nearly 60% increase in total minutes watched on streaming platforms for the year[23] - CBS operates 29 owned broadcast television stations in the five largest U.S. television markets, serving local news and programming[32] - CBS Sports Network broadcasts a variety of live professional, amateur, and college events, including NCAA Division I tournaments and the Masters[37] - CBS Media Ventures produces and distributes original series programming across various genres, licensed to television stations for local broadcast[39] Regulatory Compliance and Challenges - The company is subject to FCC regulations, which can impose substantial fines and affect broadcast licenses[66] - Television broadcast licenses in the U.S. are typically granted for eight-year terms, requiring timely renewals to continue operations[68] - The FCC's local television ownership rule generally prohibits common ownership of two full-power stations in a market unless specific conditions are met[70] - Under the national television ownership rule, one party may not own stations that reach more than 39% of U.S. television households[72] - The Communications Act restricts foreign ownership to a maximum of 25% voting power or equity without FCC approval[73] - The company has elected to negotiate retransmission consent agreements with MVPDs for the right to carry its broadcast television stations[74] - The FCC mandates that broadcasters comply with content regulations, including restrictions on obscene and indecent material[75] - The company is required to air three hours per week of educational programming for children aged 16 and younger[76] Strategic Transactions - The company entered into a transaction agreement with Skydance Media, involving an investment of up to $6.0 billion into a new holding company, New Paramount[15] - The transaction includes a cash-stock election allowing stockholders to convert shares into cash or New Paramount Class B Common Stock[17] - The expected closing of the Skydance transaction is in the first half of 2025, subject to regulatory approvals[18] Future Initiatives - The company plans to maximize cash flow from traditional businesses while focusing on Direct-to-Consumer profitability[14] - The company is participating in ATSC 3.0 partnerships to enhance broadcast quality and may enter additional partnerships in the future[77] - The company is subject to various data protection and privacy laws that impact how it collects and processes personal data[78] - The company is committed to protecting its intellectual property rights, which are crucial for revenue generation[79]
Paramount (PARAA) - 2024 Q4 - Annual Results
2025-02-26 21:12
Exhibit 99 PARAMOUNT REPORTS Q4 AND FULL YEAR 2024 EARNINGS RESULTS Strong Content Slate Drove Solid Top Line Results · Total Company Revenue Grew 5% for Q4 Continued Momentum in Streaming Strengthened Balance Sheet in 2024 In addition, Skydance transactions are expected to close in the first half of 2025 STATEMENT FROM GEORGE CHEEKS, CHRIS MCCARTHY & BRIAN ROBBINS, CO-CEOS We are proud of the transformative year we delivered since becoming Co-CEOs, which marks a significant turning point for Paramount as w ...
Paramount (PARAA) - 2024 Q3 - Quarterly Results
2024-11-08 12:12
Financial Performance - Total revenue for the company decreased by 6% year-over-year to $6.731 billion, with a 4% decline for the nine months ended September 30, totaling $21.229 billion[3]. - Revenues for Q3 2024 were $6,731 million, a decrease of 5.6% compared to $7,133 million in Q3 2023[15]. - Operating income for Q3 2024 was $337 million, down 45.7% from $621 million in Q3 2023[15]. - Net earnings from continuing operations for Q3 2024 were $16 million, compared to $261 million in Q3 2023, reflecting a significant decline[15]. - Total revenue for the nine months ended September 30, 2024, was $1.874 billion, a decrease of 19% from $2.310 billion in 2023[9]. - The company reported impairment charges of $6,100 million for the nine months ended September 30, 2024, indicating substantial asset write-downs[15]. - Paramount reported a net loss of $5,941 million from continuing operations for the nine months ended September 30, 2024, compared to a loss of $1,259 million in the same period of 2023[18]. - Basic net earnings per share from continuing operations for Q3 2024 were $(0.01), compared to $0.36 in Q3 2023[15]. - The company reported a diluted EPS from continuing operations of $(9.04) for the nine months ended September 30, 2024, compared to $0.36 in 2023[26]. Direct-to-Consumer (DTC) Segment - Direct-to-Consumer (DTC) adjusted OIBDA improved by $287 million year-over-year to $49 million[1]. - Paramount+ experienced a revenue growth of 25% year-over-year, adding 3.5 million subscribers in the quarter, reaching a total of 72 million subscribers[1][6]. - DTC revenue increased by 10% year-over-year, with subscription revenue growing by 7% and advertising revenue rising by 18%[6][7]. - The DTC segment achieved profitability for the second consecutive quarter, improving by over $1 billion over the past four quarters[2]. - Paramount+ global ARPU expanded by 11% year-over-year[6]. Revenue Breakdown - TV Media revenue decreased by 6% to $4.298 billion, primarily due to lower affiliate revenue and fluctuations in licensing revenue[8]. - Filmed Entertainment revenue decreased 34% to $590 million compared to $891 million in the prior year[9]. - Theatrical revenue decreased 71% to $108 million, down from $377 million in the previous year[9]. - Licensing and other revenue decreased 6% to $480 million, compared to $509 million last year[9]. - Advertising revenue for the nine months decreased 52% to $10 million, down from $21 million[9]. Cost Management and Savings - The company is advancing $500 million in annual run rate cost savings through non-content cost reductions[2]. - Adjusted OIBDA for TV Media decreased by 19% to $936 million[8]. - Programming charges for the nine months ended September 30, 2024, were $1,118 million, significantly lower than $2,371 million in the same period of 2023[15]. - The company incurred restructuring and transaction-related costs of $44 million as part of its operational transformation initiatives[30]. Asset and Equity Changes - Total current assets decreased to $11,925 million as of September 30, 2024, from $12,703 million at December 31, 2023[16]. - Total Paramount stockholders' equity decreased to $16,628 million as of September 30, 2024, down from $22,526 million at December 31, 2023[16]. - Long-term debt remained relatively stable at $14,495 million as of September 30, 2024, compared to $14,601 million at December 31, 2023[16]. Cash Flow and Investments - Net cash flow provided by operating activities from continuing operations was $584 million for the nine months ended September 30, 2024, compared to a cash outflow of $174 million in 2023[18]. - Free cash flow for Q3 2024 was $214 million, down from $377 million in Q3 2023, while free cash flow for the nine months ended September 30, 2024 was $433 million compared to $(387) million in the same period of 2023[36]. - The company recognized stock-based compensation expenses of $175 million for the nine months ended September 30, 2024, compared to $131 million in 2023[18]. - Paramount's net cash flow used for investing activities was $(317) million for the nine months ended September 30, 2024, compared to $(344) million in 2023[18]. Impairment and Charges - The company recorded a goodwill impairment charge of $5.98 billion during the second quarter of 2024[4]. - The company incurred impairment charges of $6,100 million during the nine months ended September 30, 2024, significantly impacting net earnings[18]. Future Transactions - Completion of the Skydance transactions is anticipated to close in the first half of 2025, subject to regulatory approvals[10]. - Paramount continues to operate in the normal course of business until the Skydance transactions are finalized[10]. Strategic Goals - The company aims to utilize free cash flow for servicing debt, paying dividends, and making strategic acquisitions[33]. - The adjusted effective income tax rate for the nine months ended September 30, 2024, was 21.8%, compared to 5.6% for the same period in 2023[28].
Paramount (PARAA) - 2024 Q2 - Quarterly Report
2024-08-08 21:18
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbols Name of each exchange on which registered Class A Common Stock, $0.001 par value PARAA The Nasdaq Stock Market LLC Class B Common Stock, $0.001 par value PARA The Nasdaq Stock Market LLC FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...
Paramount (PARAA) - 2024 Q1 - Quarterly Report
2024-04-29 21:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-09553 Paramount Global (Exact name of registrant as specified in its charter) Not Applicable (Former name, former ...