Paramount shares surged 9% in after-hours trading Tuesday after reports emerged that David Ellison's Skydance had reached a preliminary deal to acquire the media company's controlling shareholder, National Amusements, and thus control of Paramount. National Amusements, the Redstone family's holding company, has referred the deal to the Paramount special committee, which is tasked with reviewing bids for the company, the Journal reported citing people familiar with the matter. Other interested bids included ...

He remained the CEO until 2006. With Post Wires Shari Redstone has gone back to the drawing board to sell a piece of struggling media giant Paramount Global. The Post has sought comment from Paramount and BET. 6 Last month, Shari Redstone, controlling shareholder of Paramount parent company National Amusements, pulled out of a proposed merger with Skydance. REUTERS The company reportedly entered exclusive talks to sell Black Entertainment Television network to a group of buyers headed by BET CEO Scott Mills ...

Paramount Global stock jumped 6% on the latest report it has resumed talking to potential buyers of select assets after pausing the divestments during ultimately fruitless merger talks with Skydance Media. A group of investors is holding exclusive talks with Paramount about a bid of $1.6 billion for BET Media Group, Bloomberg reported Tuesday. Among the cadre of potential buyers are BET CEO Scott Mills and Chinh Chu, the former Blackstone exec who now runs New York-based private equity firm CC Capital. Para ...

A new suitor for Paramount Global has emerged. Following months of deal talks with a consortium that included David Ellison's Skydance and private equity firms RedBird Capital and KKR, the deal was called off as it awaited signoff from Redstone. National Amusements, which Redstone controls, holds 77% of class A Paramount shares. During the Hollywood strikes last summer, he said that despite cord cutting, traditional pay-TV is still profitable — unlike most streaming businesses. He called on legacy media to ...

Shares of streaming platform Paramount Global (NASDAQ:PARA) are 2.6% higher to trade at $10.41 this morning, after several companies have expressed interest in a merger. Most notably, Paramount is in talks with Warner Bros Discovery (WBD) and billionaire Barry Diller's IAC (IAC). Analysts have been extremely pessimistic of late, with 22 of the 27 in coverage sporting a "hold" or worse recommendation. Meanwhile, short sellers remain in control, with 11% of the stock's total available float now sold short. PA ...

Billionaire media mogul Barry Diller is in talks with Paramount's parent firm, National Amusements, for control of Paramount, according to The New York Times, marking the latest bid for Paramount after Skydance Media recently ended merger negotiations with the entertainment conglomerate. Getty Images Diller's media company, InterActiveCorp, has signed nondisclosure agreements with National Amusements, according to the Times, which noted such forms allow for companies to trade confidential information integr ...

One of the companies that has expressed a desire to reach a deal is Warner Bros. Discovery, according to people familiar with the matter. Combining Max and Paramount+ could strengthen both services by allowing them to better compete with Netflix and Disney's suite of platforms (Disney+, Hulu and ESPN) for eyeballs and future content. "What they don't have is our scale of content, and together we will make for a very powerful combination to drive more minutes and greater profits," McCarthy said of a potentia ...

Getty Images In a statement, Paramount said, "As part of broader website changes across Paramount, we have introduced more streamlined versions of our sites, driving fans to Paramount+ to watch their favorite show." Paramount also mentioned content for their cable networks are available via your TV provider. Paramount Global recently announced a rate increase for Paramount+. The cost of Paramount+ with Showtime will increase $1 to $12 .99 monthly. The monthly cost for Paramount+ with ads also increased $1 t ...

The news comes on the heels of collapsed merger talks earlier this month between media heiress Shari Redstone, Paramount's controlling shareholder, and Skydance Media, a producer of the "Mission: Impossible" franchise. Paramount Global's co-CEOs Chris McCarthy (from left) George Cheeks and Brian Robbins pose with Shari Redstone. WireImage The co-CEOs did not provide numbers on the looming layoffs and told an attendee they were not prepared to give a timeline for job cuts during the Q&A session, according to ...

Paramount Global is pushing ahead with asset sales and bankers are in the house as it sets out to streamline and raise cash to pay down debt. Its three co-CEOs confirmed as much today at a Town Hall with staff. Paramount is not in the real estate business, and a sale could bring in $2 billion. As ViacomCBS, it sold the historic CBS building in NYC known as Black Rock for $760 million to real estate investment firm Harbor Group International in 2021. Later the same year, it sold the iconic CBS Studio Center ...