JioStar, Zee Entertainment, Eenadu Television, TV Today Network, and ABP Network are among other broadcasters who have surrendered their television licences amid the user shift to digital platforms, reported the news portal Economic Times, citing the Ministry of Information and Broadcasting.According to the news portal's report, nearly 50 television channels have surrendered their licences over the last three years due to the rising challenges in the sector amid the rising user preference for digital consum ...

JioStar, ET BureauSurrender of around 50 licences in three years signals rising stress in linear TVSeparately, Culver Max Entertainment, which operates as Sony Pictures Networks India, surrendered 26 downlinking permissions after receiving MIB approval to uplink and downlink the same set of channels, data showed.The licence surrenders are due to strategic restructuring, financial unviability and changing market conditions, industry executives said.Live EventsIndia's pay-tv ecosystem has been under sustaine ...

Group 1 - Paramount Skydance has made a $30 offer for Warner Bros. Discovery (WBD), positioning it as a superior alternative to Netflix's recent agreement to acquire WBD's streaming and studio assets [1] - Paramount argues that Netflix's offer presents inferior and uncertain value for WBD shareholders, along with a complicated regulatory clearance process [2] - Paramount's legal team has indicated that WBD has not maintained a fair transaction process, suggesting a direct appeal to WBD shareholders [3] Group 2 - Warner Bros. Discovery owns significant assets including the Warner Bros. film studio, HBO, HBO Max, and various TV networks such as CNN, TNT, and TruTV [3] - Paramount Skydance controls notable properties including Paramount Pictures, streaming services Paramount+ and Pluto TV, as well as CBS and cable channels like Comedy Central and MTV [4]

Core Insights - Paramount has initiated layoffs affecting around 1,000 employees, with expectations of further cuts, ultimately reducing the workforce by 10% as part of a strategy for long-term growth [2][3] - The layoffs are part of a broader cost-cutting initiative following Skydance's $8.4 billion merger with Paramount, which aims to reduce costs by approximately $2 billion [4] - Paramount is also pursuing a potential acquisition of Warner Bros. Discovery, which would significantly expand its media portfolio [7][8] Company Actions - The new CEO David Ellison has indicated that the layoffs address redundancies and roles misaligned with the company's evolving priorities [3] - CBS News, a subsidiary of Paramount, is expected to cut around 100 employees, a decision made prior to the appointment of Bari Weiss as editor-in-chief [3] - Despite workforce reductions, Paramount has committed to a $7.7 billion deal to become the UFC's streaming partner, which is a significant investment in content rights [8] Industry Context - Paramount's layoffs are part of a larger trend in the industry, with other major companies like Amazon, UPS, Target, and General Motors also announcing significant job cuts [5] - The competitive landscape is intensifying as Paramount seeks to enhance its market position through strategic acquisitions and partnerships, while also managing operational costs [7][9] - Regulatory considerations may impact the potential merger with Warner Bros. Discovery, but the political connections of Skydance's leadership could influence the outcome [9]

Core Insights - Paramount Skydance Corporation has appointed Makan Delrahim as Chief Legal Officer, effective October 6, 2025, to oversee legal, regulatory, compliance, and public policy matters [1][2][3] Group 1: Appointment and Role - Makan Delrahim will manage Paramount's Government Relations team and bring extensive experience from his previous role as Assistant Attorney General overseeing the U.S. Department of Justice's Antitrust Division [1][2][3] - Delrahim's background includes advising on high-profile transactions and complex litigation at Latham & Watkins LLP, where he provided legal counsel during the M&A process leading to Paramount's acquisition [2][4] Group 2: Leadership Perspective - David Ellison, Chairman and CEO of Paramount, expressed enthusiasm for Delrahim's appointment, highlighting his strategic mindset and experience in navigating complex challenges as vital for Paramount's future [3] - Delrahim emphasized the dynamic nature of the media industry and his commitment to contributing to Paramount's leadership team during this transformative period [3] Group 3: Delrahim's Background - Delrahim has a distinguished career in antitrust law, having overseen numerous mergers and acquisitions and led initiatives for international antitrust cooperation during his tenure at the DOJ [5][6] - His previous roles include senior positions in various governmental agencies, showcasing his extensive experience in law and policy [6][7] Group 4: Company Overview - Paramount, a Skydance Corporation, is a leading global media and entertainment company with segments in Filmed Entertainment, Direct-to-Consumer, and TV Media, housing renowned brands such as Paramount Pictures and CBS [8]

Company Overview - Paramount Skydance Corporation (PSKY) has a market cap of $12.9 billion and operates in film, television, streaming, and interactive content [1] - The company is classified as a "large-cap" stock, with notable brands including Paramount Pictures, CBS, Nickelodeon, MTV, BET, Comedy Central, Showtime, Pluto TV, and Paramount+ [2] Stock Performance - PSKY shares have decreased over 9% from their 52-week high of $20.86, but have increased by 55.3% over the past three months, outperforming the S&P 500 Index's 8.2% gain [3] - Year-to-date, PSKY stock is up 81.5%, significantly surpassing the S&P 500's 12.1% rise, and has risen 79.9% over the past 52 weeks compared to the S&P 500's 15.2% return [4] Financial Results - Following Q2 2025 results on July 31, PSKY shares rose 3.5% as adjusted EPS of $0.46 exceeded consensus estimates [5] - Direct-to-Consumer (DTC) revenues increased by 14.9% to $2.16 billion, with subscription revenues up 21.8% and Paramount+ reaching 77.7 million subscribers, alongside a 9% growth in ARPU [5] - DTC adjusted OIBDA improved by $131 million, supported by strong theatrical performance from "Mission: Impossible – The Final Reckoning," which grossed over $590 million globally, and SG&A cost savings of 11.3% [5] Merger Activity - On August 7, Skydance Media and Paramount Global completed their merger to form Paramount, a Skydance Corporation (PSKY), combining Paramount's legacy content and distribution with Skydance's production and technology expertise [6]

Core Insights - The Federal Reserve's recent 25bps rate cut and potential fiscal easing are expected to stimulate M&A activity, particularly in the TMT sector, which has shown resilience with a 33% increase in deal value to $146 billion [1] - Intellectual property (IP) is becoming a central asset in TMT M&A, influencing valuations and strategic directions, as companies seek to acquire content libraries and franchises to enhance user engagement and competitive positioning [2] M&A Activity Highlights - Microsoft's acquisition of Activision Blizzard for $68.7 billion in 2023 is the largest gaming deal in history, allowing Microsoft to control significant IPs and become the third-largest gaming platform by revenue [3][4] - The deal was justified by the recurring monetization potential from subscriptions and in-game purchases, supported by Activision's 400 million monthly active users [4] - Skydance Media's merger with Paramount Global for $28 billion aims to create a media and technology leader, leveraging Paramount's extensive IP and streaming platforms to enhance distribution and production capabilities [6][7] Strategic Importance of IP - The integration of Activision's library into Microsoft's Game Pass and Xbox Cloud Gaming has proven beneficial, with gaming revenue reaching $2 billion and Xbox content growing by 16% [5] - Paramount's acquisition of UFC for $7.7 billion is positioned as a strategic move to enhance its sports IP portfolio, transitioning UFC events from pay-per-view to subscription models, thereby increasing engagement and retention [9][10] - The valuation of IP in these transactions reflects a shift towards viewing IP as a recurring, ecosystem-driven asset rather than just a one-time revenue generator [16][20] Future Outlook - The long-term growth potential of the media industry remains strong, driven by increasing consumption and the central role of IP across various entertainment formats [22] - Companies must be cautious in their M&A strategies, ensuring they have the scale and platforms to fully leverage acquired IP, as today's high premiums could lead to future valuation challenges [23]

Group 1 - Warner Brothers shares have seen a significant increase, rising by 10% recently, indicating strong market interest [1] - There is an expectation that the bid for Warner Brothers will be primarily in cash, necessitating additional equity financing from Paramount, likely involving Larry Ellison [2][3] - Concerns have been raised regarding the current EBITDAN figures at Paramount, suggesting they may be overstated, which could impact investor confidence [5] Group 2 - There are potential tax implications related to spin-offs, with Paramount facing a two-year engagement ban if a bid fails, although this would not prevent the sale of its businesses post-spin [6] - A notable transaction occurred with the purchase of 100,000 December 15 Warner Brothers call options, which may have influenced market sentiment regarding the bid [7] - The media industry, previously considered stagnant, is showing signs of renewed value, particularly in broadcast, which may be worth more than previously thought [9][10]

Core Viewpoint - Paramount Skydance is preparing a takeover offer for Warner Bros Discovery (WBD) to consolidate two major US media conglomerates and Hollywood studios [1][2] Group 1: Takeover Bid Details - Paramount is planning a majority cash bid for WBD, supported by the Ellison family [2] - Following the news, shares in WBD increased by up to 34% [2] Group 2: Company Background - WBD owns significant media assets, including Warner Bros studios, CNN, DC Comics, and several TV networks like HBO [2] - Paramount owns Paramount Pictures and TV broadcasters such as CBS in the US and Channel 5 in the UK [3] Group 3: Recent Strategic Moves by Ellison - David Ellison has quickly made strategic moves since taking control of Paramount, including a $7.7 billion deal for UFC broadcasting rights and exclusive contracts with the Duffer brothers and Activision for a Call of Duty movie [4] - Decisions regarding CBS News, a major news operation, have come under scrutiny, particularly related to a settlement with Donald Trump over a controversial interview [5][6] Group 4: Implications for Media Landscape - The potential acquisition of WBD raises questions about the future of CNN, which has faced criticism from Trump regarding its coverage [8]

Paramount’s new owner explores ways to revive MTV and other once-mighty channels such as Comedy Central and Nickelodeon https://t.co/6uU0Ei1ZNh ...