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 ...

Core Insights - Warner Bros. Discovery is interested in merging its streaming service Max with Paramount+, aiming to enhance competitiveness against Netflix and Disney's platforms [1] - Paramount Global is exploring partnerships with technology platforms and other media companies to potentially merge its Paramount+ service, which could lead to a new wave of streaming collaborations [5][8] - A merged streaming service could reduce customer churn by offering diverse programming and alleviate financial losses for Paramount Global by transferring ownership [10] Financial Performance - Warner Bros. Discovery's direct-to-consumer business achieved $103 million in annual adjusted EBITDA in 2023, a significant recovery from a $2.1 billion loss in the previous year [3] - Paramount Global reported a loss of $1.67 billion in direct-to-consumer operating income before depreciation and amortization in 2023, an improvement from a $1.8 billion loss the year before [3] Market Position - Max has approximately 100 million global subscribers, with 52.7 million in the U.S., while Paramount+ ended its first quarter with 71 million subscribers [11] - The potential merger would create a powerful combination of content across TV, film, and sports, attracting millions of viewers [4] Strategic Discussions - Paramount Global is in discussions with various media and tech companies regarding the structure of a potential merger, with no detailed plans for a joint venture with Warner Bros. Discovery yet [6][9] - Comcast's NBCUniversal has also shown interest in a joint venture with Paramount+, but previous talks did not progress significantly [7]

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 ...

The trio echoed what they mentioned earlier at the annual shareholders meeting that a plan is underway to find a strategic partner for Paramount+, especially as they try to make-up for linear declines at the company. In regards to accomplishments made since that announcement McCarthy specified that was in "International – we are advancing talks with potential partners that will significantly transform the scale and economics of the service making it profitable and driving long term value. This approach coul ...

A number of other streaming services have also raised prices over the last year, incorporated ad-supported tiers, and started to negotiate deals to bundle their services, as the industry works to grow subscribers and increase profitability. Paramount Global (PARA) shares rose Monday afternoon as the company announced plans to raise the prices of its Paramount+ streaming service as it navigates a variety of takeover and merger offers that have surrounded Paramount in recent months. Key Takeaways The price of ...

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More media companies have increased streaming prices as they look to make a profit on the cash-losing business. Paramount executives had said publicly on multiple occasions they see a lot of opportunities to increase the price of streaming services. The company said Monday it will raise the price of the Paramount+ with Showtime plan by $1 to $12.99 a month, and the price of its Paramount+ Essential option will increase by $2 to $7.99 a month for all new subscribers. — Disclosure: Comcast is the parent compa ...

Group 1 - Paramount Global's General Counsel Christa D'Alimonte will exit the company at the end of the month after a 25-year association with Viacom and nearly 12 years as an employee [4][8] - The company plans to implement $500 million in cost savings and streamline staff, as indicated by the Office of the CEO members George Cheeks, Chris McCarthy, and Brian Robbins [2] - Caryn Groce, a 14-year veteran and D'Alimonte's deputy, will take over her duties as acting General Counsel, ensuring a seamless transition [7] Group 2 - Paramount Global has been in the news recently, particularly after its controlling shareholder, Shari Redstone, terminated merger talks with Skydance Media just before a deal was finalized [5] - D'Alimonte highlighted the importance of the legal department in the company's operations, stating that their work is crucial to various aspects of the business, including content development and employee safety [8] - In 2023, D'Alimonte was the third-highest-paid member of the management team, earning nearly $5.8 million from her base pay, stock award, and bonus [7]