The bloodbath at Paramount Global continued Tuesday as the struggling media giant kicked off a second round of layoffs in its previously announced plans to cut 2,000 jobs. Paramount's co-CEOs George Cheeks, Chris McCarthy and Brian Robbins revealed in a memo that "90% of these reductions will be complete" by the end of Tuesday. "Like the entire media industry, we are working to accelerate streaming profitability while at the same time adjusting to the evolving landscape in our traditional businesses," the C ...

Paramount Global has initiated the next phase of its plan to lay off 15% of its U.S. workforce, saying the cuts will be 90% complete after further cutbacks today. George Cheeks, Chris McCarthy and Brian Robbins conveyed the news to staffers in a memo this morning. (Read it in full below.) The Co-CEOs months ago said they were aiming to achieve $500 million in annual cost savings, with layoffs a key component in hitting that target. Sources have indicated to Deadline in recent days that the streaming organiz ...

Paramount Group (NYSE: PGRE ) is a New York and San Francisco-focused office REIT that recently suspended its $0.035 per share quarterly cash dividend, a move billed by management as an attempt to preserve cash and take advantage The equity market is a powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued yet high-growth companies, high-dividend tick ...

For Immediate Releases Chicago, IL – September 17, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Sirius XM Holdings Inc. (SIRI) , Royal Caribbean Cruises Ltd. (RCL) , Norwegian Cruise Line Holdings Ltd. (NCLH) , Paramount Global (PARAA) and Crocs Inc. (CROX) . Here are highlights from Tuesday's Analyst Blog: Bu ...

Key Takeaways Real estate investment trust Paramount Group on Friday suspended its quarterly dividend to "fortify" its balance sheet and allow for the "utmost financial flexibility." The dividend of $0.035 was set to be paid on Oct. 15. The move came soon after it was reported Paramount is in talks with lenders to sell its Market Center property in San Francisco. Paramount Group (PGRE) shares edged higher Friday as the real estate investment trust (REIT) that specializes in commercial properties suspended i ...

Shares of Paramount Global (PARAA) have been struggling lately and have lost 8.6% over the past two weeks. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road. The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Investors interested in REIT and Equity Trust - Other stocks are likely familiar with Paramount Group (PGRE) and EastGroup Properties (EGP) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores ...

Edgar Bronfman Jr. walked away from his bid for Paramount after the company's special committee demanded his consortium submit a final offer Monday, according to people familiar with the matter. Initially, Bronfman thought he would have until end of day Tuesday to round up financing, but the deadline moved up a day to give the special committee and its financial adviser Centerview Partners enough time to perform due diligence on the bid, said the people, who asked not to be named because the discussions wer ...

KEY TAKEAWAYS Paramount Global's special committee said Edgar Bronfman Jr. has withdrawn from bidding for Shari Redstone's media empire. Bronfman's retreat sets the stage for the entertainment giant to be sold to David Ellison's Skydance Media. The committee said that it had "contacted more than 50 third parties" to see if they were interested in bidding for Paramount. Paramount Global's (PARA) special committee said Edgar Bronfman Jr. has withdrawn from bidding for Shari Redstone's media empire, setting th ...