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Shari Redstone Says Content Is Still King As She Closes Out Her Family's Long Paramount Run
Deadline· 2025-07-31 20:59
Core Viewpoint - Paramount Global is preparing for a merger with Skydance, with Shari Redstone expressing confidence in Skydance's ability to manage the company's assets effectively as the merger approaches on August 7 [1][5]. Company Overview - Shari Redstone emphasized the importance of content in the media industry, a philosophy instilled by her father, Sumner Redstone, who built Viacom and CBS over nearly 40 years [2]. - Paramount has achieved significant milestones, including being the number one broadcast network for 17 consecutive years and delivering top-rated programming across various genres [3]. Merger Details - The merger involves Paramount acquiring Skydance in an all-stock deal that values Skydance at $4.75 billion, with Skydance offering up to $4.5 billion in cash for Class A and B shares [5]. - Following the merger, the Skydance investor group will own 100% of New Paramount Class A shares and 69% of outstanding Class B shares [5]. Financial Aspects - Redstone's family holding company, NAI, is being acquired for $2.4 billion as part of the transaction, raising questions about transparency regarding this payout [4][6]. - Paramount's shares have faced significant declines due to challenges in the traditional media landscape, particularly the drop in linear television viewership [6]. Historical Context - The Redstone family's media empire began in 1934 with a drive-in theater and expanded to include major acquisitions like Viacom, Paramount, and CBS [6]. - The current version of Paramount+ was launched in 2021, and Shari Redstone began exploring the sale of the company in late 2024 [7].
‘Daily Show’ co-creator weighs in on Colbert show cancellation: This is a ‘warning shot’
MSNBC· 2025-07-27 22:23
The fallout continues after CBS announced that it's cancelling the Late Show after a three decade run, citing financial issues at the network. The suspiciously timed cancellation came just three days after show host Steven Cobear spoke out against CBS settling a lawsuit with President Trump for $16 million, calling it quote a big fat bribe. A lawsuit that legal experts say the network probably would have won if it went to court.that the show will cease to exist next year shocked many as it recently hit a 10 ...