Veteran media executive Edgar Bronfman Jr. on Monday submitted a roughly $4.3 billion bid to take over Paramount Global through the acquisition of National Amusements, the family holding company that owns a controlling stake in the media company, a person familiar with the matter told Reuters. The competing offer for the home of Paramount Pictures, the CBS broadcast network and MTV is a fresh twist in a sale process marked by a number of unexpected turns. It threatens to undo a planned acquisition by tech s ...

As the August 21 deadline looms for other parties to make a run at Paramount (or forever hold their peace), the Wall Street Journal reports that Edgar Bronfman Jr. has not exited the Paramount scene but is in talks with investors and preparing a bid. The stock, which frequently jumps about on news like this, is up nearly 8%. Other potential acquirers like Barry Diller's IAC have dropped by the wayside given the size and complexity of the business combination, which seemed to leave the path clear for Skydanc ...

Liquor scion Edgar Bronfman Jr. is preparing to bid for Paramount Global less than a week before a pending $8 billion merger with Skydance Media becomes official, according to a report. Bronfman, the entertainment mogul and son of the late Seagram CEO Edgar Bronfman Sr., has been engaged in talks with potential investors about backing a bid for National Amusements, the parent company that controls Paramount Global, according to The Wall Street Journal. The Journal cited sources as saying that a bid could be ...

CBS Sports CEO David Berson said the volatility at parent company Paramount Global, which is laying off 15% of its U.S. workforce and preparing to merge with Skydance Media, isn't taking his division off its game. "There's no doubt that the media and entertainment world is incredibly complex these days, but there's no doubt that the sports world is growing in value every single day," the exec said Wednesday at an NFL media breakfast at Paramount's corporate headquarters in New York. Berson has been in the t ...

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Paramount Global began a massive culling Tuesday that aims to whack 2,000 jobs as the struggling entertainment giant readies to complete a merger with film studio Skydance Media, the company said. Paramount's three co-chief executive officers circulated a memo to staffers indicating that the job cuts would be carried out in three phases and would continue throughout the rest of the year. It is anticipated that 90% of the job cuts would be completed by the end of next month, according to the memo obtained by ...

Paramount Global has initiated the first wave of layoffs as it looks to reduce its U.S. workforce by 15%. The first of three stages of the staff reductions is beginning today, with 90% of the planned cuts to be completed by the end of September. George Cheeks, Chris McCarthy and Brian Robbins, the three members of the Office of the CEO, laid out details this morning in a memo to employees (read it below). "The industry continues to evolve, and Paramount is at an inflection point where changes must be made t ...

Investors looking for stocks in the REIT and Equity Trust - Other sector might want to consider either Paramount Group (PGRE) or 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. There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank ...

Paramount Global (NASDAQ:PARA) stock is up 4.5% at $10.66 at last glance, after the streaming giant reported better-than-expected second-quarter earnings of 54 cents per share, though revenue missed estimates. The company also announced it was cutting 15% of its workforce in its latest round of layoffs, as it prepares for its Skydance Media merger. Today's pop isn't enough to push Paramount Global stock into the black for the week, however, with the equity on track for its fifth consecutive weekly loss. The ...

Paramount Global will cut about 15% of its U.S.-based workforce, co-CEO Chris McCarthy said on Thursday. The media company disclosed its plans for the layoffs as it released its second-quarter financial results. CLICK HERE TO READ MORE ON FOX BUSINESS McCarthy said the layoffs will be "primarily focused on two areas: first, redundant functions within marketing and communications; second, streamlining our corporate structure, reducing our headcount in finance, legal, technology and other support functions." ...