After months of high drama and boardroom tension, the proposed sale of Paramount Global to David Ellison’s Skydance Media has collapsed. The New York Times reported that Shari Redstone’s National Amusements Inc. could not reach mutually acceptable terms with Skydance to proceed with the deal. Redstone’s company had initiated exclusive merger talks with Skydance, marking a significant step towards potentially selling Paramount Global. Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance, continued the statement from the Redstone family. Over the...
- 6/13/2024
- by TV Overmind
- TVovermind.com
The implosion of talks between David Ellison’s Skydance and Shari Redstone has cast a pall on the town. Beyond Paramount Global’s share price inching down to below $10 a share, enthusiasm does not seem high over the rival bidders or Redstone relying on a troika of George Cheeks, Chris McCarthy and Brian Robbins, who are proposing $500 million in cuts as a remedy. That won’t strengthen the asset, and hasn’t stopped the stock slide as many fear another deal might lead to Paramount Global being stripped down and sold for parts including its historic lot.
What might work? How about some creative courage and doubling down on ambitious projects? Or even keeping going CBS signature procedurals like Blue Bloods, whose Tom Selleck-led cast is kicking and screaming to stop the show from fading away at season’s end? Blue Bloods might not be a sexy Emmy magnet like Succession,...
What might work? How about some creative courage and doubling down on ambitious projects? Or even keeping going CBS signature procedurals like Blue Bloods, whose Tom Selleck-led cast is kicking and screaming to stop the show from fading away at season’s end? Blue Bloods might not be a sexy Emmy magnet like Succession,...
- 6/13/2024
- by Mike Fleming Jr
- Deadline Film + TV
Sumner Redstone earned renown as both dealmaker and deal breaker (he once said he’d fired Tom Cruise). His daughter, Shari, seems to have inherited only part of his skill set.
Flash back 50 years: The Beverly Hills dinner party was lavish. The mood among the Hollywood power players was upbeat. Gossip about a stream of impending hits from the Paramount studio prompted praise and optimism.
Until Barry Diller abruptly chimed in. “Paramount’s management team will implode within weeks,” said the acerbic Diller. “It’ll be the classic Hollywood case of turning success into failure.”
From a perspective of 50 years, Diller’s prediction of turmoil proved accurate for that moment – and for the present as well. As a film studio, Paramount again levitates in limbo land. And Hollywood wonders whether any creative entity can survive its many episodes of turmoil.
Until this week Paramount’s new corporate suitors had ranged from David Ellison,...
Flash back 50 years: The Beverly Hills dinner party was lavish. The mood among the Hollywood power players was upbeat. Gossip about a stream of impending hits from the Paramount studio prompted praise and optimism.
Until Barry Diller abruptly chimed in. “Paramount’s management team will implode within weeks,” said the acerbic Diller. “It’ll be the classic Hollywood case of turning success into failure.”
From a perspective of 50 years, Diller’s prediction of turmoil proved accurate for that moment – and for the present as well. As a film studio, Paramount again levitates in limbo land. And Hollywood wonders whether any creative entity can survive its many episodes of turmoil.
Until this week Paramount’s new corporate suitors had ranged from David Ellison,...
- 6/13/2024
- by Peter Bart
- Deadline Film + TV
Director Andy Muschietti and his producer / sister Barbara Muschietti, the filmmaking team behind Mama and the $1 billion grossing adaptations of Stephen King’s It, recently teamed up with Skydance to form a new horror label called Nocturna – and the first project that will be coming out of the Nocturna partnership is called They Will Kill You. Deadline reports that Zazie Beetz, whose credits include Joker, Bullet Train, and Deadpool 2, has just signed on to star in the film.
Beetz will be taking on the role of a woman who answers a help-wanted ad to be a housekeeper in a mysterious New York City high-rise. She doesn’t realize she is entering a community that has seen a number of disappearances over the years.
The Muschiettis are producing They Will Kill You alongside David Ellison, Dana Goldberg, Don Granger, and Dan Kagan, as well as Nocturna Co-Heads of Film, Russell Ackerman and John Schoenfelder.
Beetz will be taking on the role of a woman who answers a help-wanted ad to be a housekeeper in a mysterious New York City high-rise. She doesn’t realize she is entering a community that has seen a number of disappearances over the years.
The Muschiettis are producing They Will Kill You alongside David Ellison, Dana Goldberg, Don Granger, and Dan Kagan, as well as Nocturna Co-Heads of Film, Russell Ackerman and John Schoenfelder.
- 6/13/2024
- by Cody Hamman
- JoBlo.com
It was announced back in March that Skydance was launching a new horror label titled Nocturna, partnering with Andy Muschietti & Barbara Muschietti (It, It: Chapter Two) on the genre venture. We had been told when the deal was first inked, “the Muschiettis will co-own the label and will run its creative direction.” What’s Nocturna working on, you ask?
The first project from the Nocturna team will be a horror film titled They Will Kill You, which has Kirill Sokolov (Why Don’t You Just Die!) on board to co-write and direct.
Deadline reports that Zazie Beetz (Joker) will star in They Will Kill You, which “follows a woman who answers an ad to be a housekeeper in a mysterious New York City high-rise.”
The horror twist for this one? The plot synopsis details, “She doesn’t realize she is entering a community that has seen a number of disappearances over the years.
The first project from the Nocturna team will be a horror film titled They Will Kill You, which has Kirill Sokolov (Why Don’t You Just Die!) on board to co-write and direct.
Deadline reports that Zazie Beetz (Joker) will star in They Will Kill You, which “follows a woman who answers an ad to be a housekeeper in a mysterious New York City high-rise.”
The horror twist for this one? The plot synopsis details, “She doesn’t realize she is entering a community that has seen a number of disappearances over the years.
- 6/13/2024
- by John Squires
- bloody-disgusting.com
Zazie Beetz übernimmt im ersten Film des gemeinsamen Horror-Labels von Skydance Media, Andy und Barbara Muschietti, Nucturna, die Hauptrolle.
Zazie Beetz übernimmt die Hauptrolle in „The Will Kill You“ (Credit: Imago / Abacapress)
Zazie Beetz übernimmt die Hauptrolle in „The Will Kill You“, den Kirill Sokolow nach einem Drehbuch, das er zusammen mit Alex Litvak geschrieben hat. Wie „Deadline“ berichtet, handelt es sich dabei um das erste Projekt von Nucturna, dem in diesem Jahr von Skydance Media, Andy und Barbara Muschietti gegründeten Horror-Label, das nach eigenen Aussagen qualitativ hochwertige Horrorstoffe für ein weltweites Publikum für Kino und Streaming produzieren will.
In „The Will Kill You“ spielt Zazie Beetz eine junge Frau, die eine Stelle als Hausmeisterin in einem mysteriösen Hochhaus in New York City annimmt. Sie bemerkt nicht, dass sie in eine Gemeinschaft kommt, aus der in den vergangenen Jahren immer mal wieder Menschen verschwunden sind.
Produziert wird „The Will Kill...
Zazie Beetz übernimmt die Hauptrolle in „The Will Kill You“ (Credit: Imago / Abacapress)
Zazie Beetz übernimmt die Hauptrolle in „The Will Kill You“, den Kirill Sokolow nach einem Drehbuch, das er zusammen mit Alex Litvak geschrieben hat. Wie „Deadline“ berichtet, handelt es sich dabei um das erste Projekt von Nucturna, dem in diesem Jahr von Skydance Media, Andy und Barbara Muschietti gegründeten Horror-Label, das nach eigenen Aussagen qualitativ hochwertige Horrorstoffe für ein weltweites Publikum für Kino und Streaming produzieren will.
In „The Will Kill You“ spielt Zazie Beetz eine junge Frau, die eine Stelle als Hausmeisterin in einem mysteriösen Hochhaus in New York City annimmt. Sie bemerkt nicht, dass sie in eine Gemeinschaft kommt, aus der in den vergangenen Jahren immer mal wieder Menschen verschwunden sind.
Produziert wird „The Will Kill...
- 6/13/2024
- by Jochen Müller
- Spot - Media & Film
Exclusive: We can tell you first that Joker and Deadpool 2 actress Zazie Beetz has signed on to headline They Will Kill You, the first feature from Nocturna, the horror label formed this year by Skydance and Andy & Barbara Muschietti.
They Will Kill You is written by Kirill Sokolov and Alex Litvak, with Sokolov attached to direct.
Sokolov is known for his dark sense of humor, and this movie follows a woman who answers a help-wanted ad to be a housekeeper in a mysterious New York City high-rise. She doesn’t realize she is entering a community that has seen a number of disappearances over the years.
They Will Kill You will be produced by David Ellison, Dana Goldberg, Don Granger, the Muschiettis and Dan Kagan. It will also be produced by Nocturna Co-Heads of Film, Russell Ackerman and John Schoenfelder.
Launched in 2024 by Skydance and the Muschiettis, Nocturna produces...
They Will Kill You is written by Kirill Sokolov and Alex Litvak, with Sokolov attached to direct.
Sokolov is known for his dark sense of humor, and this movie follows a woman who answers a help-wanted ad to be a housekeeper in a mysterious New York City high-rise. She doesn’t realize she is entering a community that has seen a number of disappearances over the years.
They Will Kill You will be produced by David Ellison, Dana Goldberg, Don Granger, the Muschiettis and Dan Kagan. It will also be produced by Nocturna Co-Heads of Film, Russell Ackerman and John Schoenfelder.
Launched in 2024 by Skydance and the Muschiettis, Nocturna produces...
- 6/12/2024
- by Anthony D'Alessandro
- Deadline Film + TV
Call it trial by fire: Skydance said it is “stronger” for having gone through the Paramount fiasco, Skydance CEO David Ellison wrote in a note to his employees (obtained by IndieWire). But is Paramount?
What say you, three Paramount Global CEOs?
“As we look ahead, we are confident about what’s in store for Paramount,” reads a studio memo released Wednesday to staff (also obtained by IndieWire). “We believe in you and we believe in Paramount.”
This vote of confidence comes after Shari Redstone said “I’m out” at the last minute, most likely fearing a lawsuit should any unhappy minority shareholders sue to block the deal.
Shareholders may not have liked it, but a Paramount-Skydance merger was potentially the best option for the industry as a whole. Small-scale consolidation should mean small job losses — especially considering Paramount has already laid off hundreds in anticipation. Had Paramount Global gone to...
What say you, three Paramount Global CEOs?
“As we look ahead, we are confident about what’s in store for Paramount,” reads a studio memo released Wednesday to staff (also obtained by IndieWire). “We believe in you and we believe in Paramount.”
This vote of confidence comes after Shari Redstone said “I’m out” at the last minute, most likely fearing a lawsuit should any unhappy minority shareholders sue to block the deal.
Shareholders may not have liked it, but a Paramount-Skydance merger was potentially the best option for the industry as a whole. Small-scale consolidation should mean small job losses — especially considering Paramount has already laid off hundreds in anticipation. Had Paramount Global gone to...
- 6/12/2024
- by Tony Maglio and Brian Welk
- Indiewire
Paramount Global co-CEOs George Cheeks, Brian Robbins and Chris McCarthy thanked staff in a memo today, obtained by Deadline, for tough months rocked by Skydance merger speculation. With that deal a no go, they said, they have plan, one mostly laid out at last week’s annual shareholders meeting, to take the company into the future.
While deals are not off the table, the focus of the recently installed executive trio will be to streamline the company, optimize streaming and look to sell off non-core assets. It’s thought likely Par will consider a sale of BET. It put the asset on the block last year but didn’t like the offers it got so yanked it off. Paramount+ is likely to partner with another streamer. The Office of the CEO, which replaced Bob Bakish in May, will also look to cut non-content costs.
The pep talk comes after Paramount...
While deals are not off the table, the focus of the recently installed executive trio will be to streamline the company, optimize streaming and look to sell off non-core assets. It’s thought likely Par will consider a sale of BET. It put the asset on the block last year but didn’t like the offers it got so yanked it off. Paramount+ is likely to partner with another streamer. The Office of the CEO, which replaced Bob Bakish in May, will also look to cut non-content costs.
The pep talk comes after Paramount...
- 6/12/2024
- by Jill Goldsmith
- Deadline Film + TV
With the Skydance Media deal talks dead, the three executives leading Paramount Global’s Office of the CEO said they remain focused on a cost-cutting and growth plan for the media conglomerate as a standalone entity.
The trio — George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and Chief Executive Officer of Paramount Pictures and Nickelodeon — addressed the current situation in a companywide memo Wednesday. On Tuesday, Shari Redstone’s National Amusements, the controlling shareholder of Paramount Global, said it had ended merger talks with Skydance because it was unable “to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
“As you heard yesterday, the proposed transaction with Skydance Media is not moving forward. So, what does this mean for Paramount?” the execs wrote.
The trio — George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and Chief Executive Officer of Paramount Pictures and Nickelodeon — addressed the current situation in a companywide memo Wednesday. On Tuesday, Shari Redstone’s National Amusements, the controlling shareholder of Paramount Global, said it had ended merger talks with Skydance because it was unable “to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
“As you heard yesterday, the proposed transaction with Skydance Media is not moving forward. So, what does this mean for Paramount?” the execs wrote.
- 6/12/2024
- by Todd Spangler
- Variety Film + TV
Alamo Drafthouse Cinema, the dine-in movie-theater chain based in Austin, Texas, has been acquired by Sony Pictures Entertainment (Spe) in a surprising example of a major studio’s film division directly acquiring a brick-and-mortar exhibitor. Financial terms of the deal were not disclosed.
The 35 Alamo Drafthouse locations across 25 cities will still be run by CEO Michael Kustermann and its headquarters will still be in Austin. Sony has also acquired Alamo’s Fantastic Fest genre film festival, which Alamo will continue to run. Sony isn’t even adding its name to Alamo’s to avoid diluting the very established brand. But all of it now will be operated under a new division within Spe. The new division? Also Spe (Sony Pictures Experiences). It’s confusing, we know. Anyway, Kustermann will report to Ravi Ahuja, president and COO of the Og Spe.
Sony says the deal is part of Spe’s “long-held...
The 35 Alamo Drafthouse locations across 25 cities will still be run by CEO Michael Kustermann and its headquarters will still be in Austin. Sony has also acquired Alamo’s Fantastic Fest genre film festival, which Alamo will continue to run. Sony isn’t even adding its name to Alamo’s to avoid diluting the very established brand. But all of it now will be operated under a new division within Spe. The new division? Also Spe (Sony Pictures Experiences). It’s confusing, we know. Anyway, Kustermann will report to Ravi Ahuja, president and COO of the Og Spe.
Sony says the deal is part of Spe’s “long-held...
- 6/12/2024
- by Brian Welk
- Indiewire
It’s time to take a breather and look for a fresh start. That seems to be the motto for Paramount Global and its investors.
With Tuesday’s news that Shari Redstone has ended months-long talks about a takeover of Paramount by a consortium led by Skydance Media and RedBird Capital without a deal, Wall Street analysts are debating, again, the future of the entertainment giant and how to think about its stock. In early Wednesday trading, that was down 2 percent at $10.82, near its 52-week low of $10.12.
Her National Amusements (Nai), which controls Paramount, said it “supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the company’s board of directors to continue to explore opportunities to drive value creation for all Paramount shareholders.” Skydance CEO David Ellison argued in an email to staff that...
With Tuesday’s news that Shari Redstone has ended months-long talks about a takeover of Paramount by a consortium led by Skydance Media and RedBird Capital without a deal, Wall Street analysts are debating, again, the future of the entertainment giant and how to think about its stock. In early Wednesday trading, that was down 2 percent at $10.82, near its 52-week low of $10.12.
Her National Amusements (Nai), which controls Paramount, said it “supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the company’s board of directors to continue to explore opportunities to drive value creation for all Paramount shareholders.” Skydance CEO David Ellison argued in an email to staff that...
- 6/12/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
The Paramount drama will continue to drag on now that Redstone has ended discussions with Skydance CEO David Ellison.
After months of negotiations, several stops and starts, and what looked like encouraging signs that a deal was close, the possibility that Paramount Global will merge with Skydance Media is officially over. Talks broke down early this week, and on Tuesday Paramount’s controlling shareholder Shari Redstone said via a statement from her holding company National Amusements Inc. (Nai) that the two sides had “not been able to reach mutually acceptable terms” for a merger. So what else is on the table for Paramount at the moment, and what does the company’s future look like after its most promising deal prospect is now officially dead?
Key Details: The Skydance deal had been the apple of Redstone’s eye for months before it dissolved. Sony and Apollo are still rethinking the...
After months of negotiations, several stops and starts, and what looked like encouraging signs that a deal was close, the possibility that Paramount Global will merge with Skydance Media is officially over. Talks broke down early this week, and on Tuesday Paramount’s controlling shareholder Shari Redstone said via a statement from her holding company National Amusements Inc. (Nai) that the two sides had “not been able to reach mutually acceptable terms” for a merger. So what else is on the table for Paramount at the moment, and what does the company’s future look like after its most promising deal prospect is now officially dead?
Key Details: The Skydance deal had been the apple of Redstone’s eye for months before it dissolved. Sony and Apollo are still rethinking the...
- 6/12/2024
- by David Satin
- The Streamable
Lange hatte David Ellisons Skydance als aussichtsreichster Kandidat für eine Übernahme von Paramount Global gegolten. Doch jetzt hat Shari Redstone, deren National Amusements die Aktienmehrheit an Paramount hält, die Verhandlungen mit Skydance beendet.
Shari Redstone hat die Gespräche mit Skydance über eine Übernahme von Paramount Global beendet (Credit: Imago / Avalon.red)
Vor einer Woche wurde noch gemunkelt, der Deal zwischen Shari Redstones National Amusements, die rund 80 Prozent der stimmberechtigen Aktien an Paramount Global hält, und David Ellisons Skydance über die Übernahme von Paramount Global sei unter Dach und Fach, nun hat Redstone die Verhandlungen für beendet erklärt.
Aus einer Stellungnahme des Unternehmens zitieren US-Medien: „National Amusements, Inc. der stimmberechtigte Mehrheitsaktionär von Paramount Global, gab heute bekannt, dass sie nicht in der Lage waren, für beide Seiten annehmbare Bedingungen bezüglich der möglichen Transaktion mit Skydance Media für den Erwerb einer Mehrheitsbeteiligung an Nai zu erreichen. Nai ist Skydance für die monatelange...
Shari Redstone hat die Gespräche mit Skydance über eine Übernahme von Paramount Global beendet (Credit: Imago / Avalon.red)
Vor einer Woche wurde noch gemunkelt, der Deal zwischen Shari Redstones National Amusements, die rund 80 Prozent der stimmberechtigen Aktien an Paramount Global hält, und David Ellisons Skydance über die Übernahme von Paramount Global sei unter Dach und Fach, nun hat Redstone die Verhandlungen für beendet erklärt.
Aus einer Stellungnahme des Unternehmens zitieren US-Medien: „National Amusements, Inc. der stimmberechtigte Mehrheitsaktionär von Paramount Global, gab heute bekannt, dass sie nicht in der Lage waren, für beide Seiten annehmbare Bedingungen bezüglich der möglichen Transaktion mit Skydance Media für den Erwerb einer Mehrheitsbeteiligung an Nai zu erreichen. Nai ist Skydance für die monatelange...
- 6/12/2024
- by Jochen Müller
- Spot - Media & Film
David Ellison, chief executive of Skydance Media, thanked employees of his company for their focus as he was engaged in a months-long bid to merge with Paramount Global. And even though that effort failed, he said that Skydance is stronger after having gone through the M&a cycle.
On Tuesday, Shari Redstone’s National Amusements, the controlling shareholder of Paramount Global, said it had ended merger talks with Skydance because it was not able “to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
In a memo to Skydance staffers Tuesday evening obtained by Variety, Ellison wrote, “As you all know, for the last several months we have been actively exploring a transaction to acquire Nai and merge with Paramount Global, and today that chapter ended.”
“Skydance is stronger than ever because of you, and we are stronger because of this process,...
On Tuesday, Shari Redstone’s National Amusements, the controlling shareholder of Paramount Global, said it had ended merger talks with Skydance because it was not able “to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
In a memo to Skydance staffers Tuesday evening obtained by Variety, Ellison wrote, “As you all know, for the last several months we have been actively exploring a transaction to acquire Nai and merge with Paramount Global, and today that chapter ended.”
“Skydance is stronger than ever because of you, and we are stronger because of this process,...
- 6/12/2024
- by Todd Spangler
- Variety Film + TV
Skydance Media CEO David Ellison acknowledged in an email to staff Tuesday evening that the company will not be assuming control of Paramount, after Shari Redstone ended talks following months of difficult negotiations.
A source said that talks stalled over multiple issues, including the valuation of Redstone’s National Amusements, a desire to have non-Redstone Class A shareholders vote to approve the deal, and regulatory concerns.
“As you all know, for the last several months we have been actively exploring a transaction to acquire Nai and merge with Paramount Global, and today that chapter ended,” wrote in the email, obtained by The Hollywood Reporter.
The executive went on to praise the staff for executing on its film, TV and video game slate while he was occupied with the deal talks, and suggested that the company will emerge in better shape thanks to the experience.
“Skydance is stronger than ever because of you,...
A source said that talks stalled over multiple issues, including the valuation of Redstone’s National Amusements, a desire to have non-Redstone Class A shareholders vote to approve the deal, and regulatory concerns.
“As you all know, for the last several months we have been actively exploring a transaction to acquire Nai and merge with Paramount Global, and today that chapter ended,” wrote in the email, obtained by The Hollywood Reporter.
The executive went on to praise the staff for executing on its film, TV and video game slate while he was occupied with the deal talks, and suggested that the company will emerge in better shape thanks to the experience.
“Skydance is stronger than ever because of you,...
- 6/12/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
This just in tonight from Skydance Boss David Ellison as Paramount Global controlling shareholder Shari Redstone says “No” to Skydance’s offer to buy National Amusements. The Top Gun: Maverick and Geostorm producer has acknowledged to staff that Skydance’s bid to merge with Paramount has ended.
However, “we are stronger because of this process,” says the son of Oracle cofounder Larry Ellison.
David promises staff that Skydance, armed with more TV products in the company’s history, is “more confident than ever—not just about Skydance but about the future of entertainment and our ability to continue building a next-generation content company on our terms, with the greatest capital, creative and technological resources and talent in the industry.”
As Jill and I told you today, there are various reasons why this Skydance-Paramount Global merger didn’t shake out, read seeking consent for the deal from a “majority of the...
However, “we are stronger because of this process,” says the son of Oracle cofounder Larry Ellison.
David promises staff that Skydance, armed with more TV products in the company’s history, is “more confident than ever—not just about Skydance but about the future of entertainment and our ability to continue building a next-generation content company on our terms, with the greatest capital, creative and technological resources and talent in the industry.”
As Jill and I told you today, there are various reasons why this Skydance-Paramount Global merger didn’t shake out, read seeking consent for the deal from a “majority of the...
- 6/12/2024
- by Anthony D'Alessandro
- Deadline Film + TV
When David Ellison’s Skydance made a play for Paramount last fall it was how and when (not if) Shari Redstone would tie the knot. Paramount and Skydance worked together. He valued the studio and its crown jewel of a backlot and planned to keep the company together. He was offering her a nice bundle of cash for her stake in National Amusements.
They talked, and talked, and talked. Potential suitor Warner Bros Discovery faded away, as did Byron Allen, who made an actual offer for the company. Par and Skydance entered an exclusive negotiating period for the month of April. When the lock-up ended with no deal, doubt crept in. Sony jumped into the mix. Yet the two sides continued talking intensely up through this past weekend.
But Redstone, whose family holding Nai controls about 80% of Paramount, always had the last word, and the last word was no. She...
They talked, and talked, and talked. Potential suitor Warner Bros Discovery faded away, as did Byron Allen, who made an actual offer for the company. Par and Skydance entered an exclusive negotiating period for the month of April. When the lock-up ended with no deal, doubt crept in. Sony jumped into the mix. Yet the two sides continued talking intensely up through this past weekend.
But Redstone, whose family holding Nai controls about 80% of Paramount, always had the last word, and the last word was no. She...
- 6/12/2024
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
Shari Redstone, whose National Amusements owns a majority stake in Paramount Global, has called off long-running merger talks with David Ellison’s Skydance Media.
The decision comes as Paramount Global’s special committee was understood to be meeting on Tuesday morning before National Amusements lawyers notified them the deal was off.
A spokesperson for National Amusements told press it was unable to reach “mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai”.
They added, “Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing,...
The decision comes as Paramount Global’s special committee was understood to be meeting on Tuesday morning before National Amusements lawyers notified them the deal was off.
A spokesperson for National Amusements told press it was unable to reach “mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai”.
They added, “Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing,...
- 6/11/2024
- ScreenDaily
No more Paramount-Skydance. In a shocking twist, National Amusements (Nai) is ending negotiations over an acquisition with Skydance, even though it looked like a done deal and was previously reported David Ellison’s company was set to pay $8 billion to gain control of Paramount.
Nai announced June 11 “they have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
“Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,” it said in a statement. “Nai supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.
Nai announced June 11 “they have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
“Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,” it said in a statement. “Nai supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.
- 6/11/2024
- by Brian Welk
- Indiewire
After months of negotiations, Paramount Global’s controlling shareholder Shari Redstone has broken off merger talks with David Ellison’s Skydance.
National Amusements has “not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai,” said the Redstone family trust that controls Paramount.
“Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance.
“Nai supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.”
The two sides have been deep in discussions during and after a one-month exclusive negotiating period in April and Redstone at one point had favored the deal,...
National Amusements has “not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai,” said the Redstone family trust that controls Paramount.
“Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance.
“Nai supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.”
The two sides have been deep in discussions during and after a one-month exclusive negotiating period in April and Redstone at one point had favored the deal,...
- 6/11/2024
- by Jill Goldsmith
- Deadline Film + TV
After more than six months of on-again-off-again talks, Shari Redstone has ended negotiations with David Ellison’s Skydance Media about a prospective merger with Paramount Global.
The news shocked the entertainment industry as there had been many signals this week that the sides were moving closer to a transaction. Redstone is Paramount Global’s controlling shareholder through National Amusements Inc., which owns 77% of the voting shares in Paramount. Paramount Global shares plummeted 7.9% in the final half-hour of trading Tuesday after the news of the Skydance talks ending broke, closing at $11.04 per share.
In a statement, Redstone’s Nai said, “National Amusements, Inc., the majority voting shareholder of Paramount Global, today announced that they have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
The statement continued, “Nai is grateful to Skydance for their months of...
The news shocked the entertainment industry as there had been many signals this week that the sides were moving closer to a transaction. Redstone is Paramount Global’s controlling shareholder through National Amusements Inc., which owns 77% of the voting shares in Paramount. Paramount Global shares plummeted 7.9% in the final half-hour of trading Tuesday after the news of the Skydance talks ending broke, closing at $11.04 per share.
In a statement, Redstone’s Nai said, “National Amusements, Inc., the majority voting shareholder of Paramount Global, today announced that they have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
The statement continued, “Nai is grateful to Skydance for their months of...
- 6/11/2024
- by Todd Spangler
- Variety Film + TV
Der Medienunternehmer, Filmproduzent und ehemalige CEO der Warner Music Group will den Mehrheitseigentümer von Paramount Global, Shari Redstones National Amusements, übernehmen. Redstone selbst bevorzugt aber nach wie vor einen Deal mit Skydance.
Edgar Bronfman jr. hat Interesse an Paramount Global (Credit: Imago / Everett Collection)
Mit Unterstützung der Private-Equity-Firma Bain Capital hat Edgar Bronfman jr. die Fühler nach Paramount Global ausgestreckt. Wie US-Medien berichten, will der Medienunternehmer, Filmproduzent und ehemalige CEO der Warner Music Group Shari Redstones National Amusements übernehmen, die rund 80 Prozent der stimmberechtigten Aktien an Paramount hält. Dem Vernehmen nach soll das Angebot bei 2,5 Mrd. Dollar liegen.
Etwas weniger, rund 2,25 Mrd. Dollar, bietet Skydance für National Amusements. Dennoch ist dieses Angebot offenbar Redstones Favorit; am Wochenende hatten intensivere Gespräche mit Skydance-Gründer und -CEO David Ellison stattgefunden. Laut dem Anfang Juni vorgelegten Angebot sollen Skydance und Paramount Global nach der Übernahme von National Amusements in einem zweiten Schritt miteinander verschmolzen werden.
Edgar Bronfman jr. hat Interesse an Paramount Global (Credit: Imago / Everett Collection)
Mit Unterstützung der Private-Equity-Firma Bain Capital hat Edgar Bronfman jr. die Fühler nach Paramount Global ausgestreckt. Wie US-Medien berichten, will der Medienunternehmer, Filmproduzent und ehemalige CEO der Warner Music Group Shari Redstones National Amusements übernehmen, die rund 80 Prozent der stimmberechtigten Aktien an Paramount hält. Dem Vernehmen nach soll das Angebot bei 2,5 Mrd. Dollar liegen.
Etwas weniger, rund 2,25 Mrd. Dollar, bietet Skydance für National Amusements. Dennoch ist dieses Angebot offenbar Redstones Favorit; am Wochenende hatten intensivere Gespräche mit Skydance-Gründer und -CEO David Ellison stattgefunden. Laut dem Anfang Juni vorgelegten Angebot sollen Skydance und Paramount Global nach der Übernahme von National Amusements in einem zweiten Schritt miteinander verschmolzen werden.
- 6/11/2024
- by Jochen Müller
- Spot - Media & Film
As an M&a event looms on the horizon for Paramount Global, the three execs in the conglomerate’s “Office of the CEO” are now eligible for stepped-up severance payments in the event of a sale or merger — and the company also will award them cash bonuses for the time they serve as co-CEOs.
The move comes as Shari Redstone, Paramount’s controlling shareholder, is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended. Meanwhile, that protracted sale process has attracted other bidders interested in buying out Redstone’s National Amusements Inc., which owns 77% of the voting shares in Paramount, including Edgar Bronfman Jr. and Bain Capital.
On Monday, Paramount disclosed that the three members of the Office of the CEO — George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins,...
The move comes as Shari Redstone, Paramount’s controlling shareholder, is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended. Meanwhile, that protracted sale process has attracted other bidders interested in buying out Redstone’s National Amusements Inc., which owns 77% of the voting shares in Paramount, including Edgar Bronfman Jr. and Bain Capital.
On Monday, Paramount disclosed that the three members of the Office of the CEO — George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins,...
- 6/10/2024
- by Todd Spangler
- Variety Film + TV
The long-running saga of who may or may not buy Paramount Pictures parent Paramount Global took a turn on Monday with reports that Edgar Bronfman Jr. has entered the fray.
The former CEO of Seagram, vice-chairman of Vivendi Universal, and CEO of Warner Music, is said to have expressed interest in mounting a $2-2.5bn acquisition of Shari Redstone’s National Amusements, owner of a controlling interest in Paramount Global.
The report by The Wall Street Journal noted that Bronfman is backed by private equity company Bain Capital and at time of writing no formal bid had been submitted.
Redstone...
The former CEO of Seagram, vice-chairman of Vivendi Universal, and CEO of Warner Music, is said to have expressed interest in mounting a $2-2.5bn acquisition of Shari Redstone’s National Amusements, owner of a controlling interest in Paramount Global.
The report by The Wall Street Journal noted that Bronfman is backed by private equity company Bain Capital and at time of writing no formal bid had been submitted.
Redstone...
- 6/10/2024
- ScreenDaily
Yet another name has surfaced in the Paramount Global scrum as former entertainment executive and beverage billionaire Edgar Bronfman Jr. is eyeing control of the company in a deal scenario with multiple moving pieces, even as Shari Redstone’s camp remains deep in talks with Skydance.
Takeover speculation has engulfed Paramount since last October and Skydance surfaced shortly after, so it’s been a long slog. In May, Par’s CEO departed. In June, four board members stepped down.
Bronfman is the latest potential buyer to emerge for Redstone’s controlling stake in Paramount, backed by Bain Capital. Deadline has confirmed his interest, which comes as producer Steven Paul has assembled a group of deep-pocketed investors for a deal. Both are looking at an acquisition of Redstone’s family holding company Nai, which owns about 80% of Paramount Global’s Class A voting stock, meaning a change in ownership of a public company,...
Takeover speculation has engulfed Paramount since last October and Skydance surfaced shortly after, so it’s been a long slog. In May, Par’s CEO departed. In June, four board members stepped down.
Bronfman is the latest potential buyer to emerge for Redstone’s controlling stake in Paramount, backed by Bain Capital. Deadline has confirmed his interest, which comes as producer Steven Paul has assembled a group of deep-pocketed investors for a deal. Both are looking at an acquisition of Redstone’s family holding company Nai, which owns about 80% of Paramount Global’s Class A voting stock, meaning a change in ownership of a public company,...
- 6/10/2024
- by Jill Goldsmith and Dominic Patten
- Deadline Film + TV
By the time you read to the end of this sentence, Shari Redstone may have made a deal with David Ellison’s Skydance. Or not.
Days after reports that Skydance had finally come to an agreement with Paramount’s special committee, there has been a pregnant pause as Redstone considered whether to pull the trigger on a complicated deal that would end her control of the entertainment empire assembled by her late father.
While thousands of Paramount staffers and the media world wait, the pot has been stirred. Warner Bros. Discovery’s David Zaslav may have added a new element to the mix by signaling his interest in acquiring CBS and Paramount Global’s TV stations — from either Redstone or Ellison, as the case may be. And sources have noted that John Lasseter, the leader of the Skydance’s animation unit that has been touted as a positive in a possible deal with Paramount,...
Days after reports that Skydance had finally come to an agreement with Paramount’s special committee, there has been a pregnant pause as Redstone considered whether to pull the trigger on a complicated deal that would end her control of the entertainment empire assembled by her late father.
While thousands of Paramount staffers and the media world wait, the pot has been stirred. Warner Bros. Discovery’s David Zaslav may have added a new element to the mix by signaling his interest in acquiring CBS and Paramount Global’s TV stations — from either Redstone or Ellison, as the case may be. And sources have noted that John Lasseter, the leader of the Skydance’s animation unit that has been touted as a positive in a possible deal with Paramount,...
- 6/9/2024
- by Kim Masters and Alex Weprin
- The Hollywood Reporter - Movie News
After multiple attempts at kick-starting new trilogies of films have failed, the live-action Terminator film series is, understandably, taking a bit of a break… but the franchise is set to continue with an eight-episode anime series called Terminator Zero, which is coming our way from Japanese animation studio Production Ig and the Netflix streaming service. Terminator Zero is set to start streaming on August 29th – and with that date swiftly approaching, it has been revealed at the Next on Netflix: Animation event in Los Angeles that Timothy Olyphant provides the voice of the Terminator in this series!
Terminator Zero is set in the established Terminator universe but centers on new characters. Mattson Tomlin, who worked on the screenplays for The Batman and its upcoming sequel, is writer and showrunner on this series, which has the following synopsis: 2022: A future war has raged for decades between the few human survivors...
Terminator Zero is set in the established Terminator universe but centers on new characters. Mattson Tomlin, who worked on the screenplays for The Batman and its upcoming sequel, is writer and showrunner on this series, which has the following synopsis: 2022: A future war has raged for decades between the few human survivors...
- 6/7/2024
- by Cody Hamman
- JoBlo.com
Shares of Paramount Global edged lower Thursday, day three in the red, amid lingering uncertainty around Skydance’s latest offer. With bigger than anticipated sweeteners for Class B shareholders, it was approved by Par’s special board committee and sent on to controlling shareholder Shari Redstone but with no announcement forthcoming.
Redstone controls Paramount through family holding company Nai, which owns about 80% of the company’s Class A voting shares. She’s always had the last word and Skydance wasn’t necessarily going to be an immediate slam dunk. But Deadline also hears Redstone continues to explore two other options as well the Skydance offer that formally landed on her plate over the weekend.
One of the two is a bid from an investor group led by Steven Paul. Deadline hears there is one other interested party. Both of those proposals — they may not be formal offers yet — would only...
Redstone controls Paramount through family holding company Nai, which owns about 80% of the company’s Class A voting shares. She’s always had the last word and Skydance wasn’t necessarily going to be an immediate slam dunk. But Deadline also hears Redstone continues to explore two other options as well the Skydance offer that formally landed on her plate over the weekend.
One of the two is a bid from an investor group led by Steven Paul. Deadline hears there is one other interested party. Both of those proposals — they may not be formal offers yet — would only...
- 6/6/2024
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
Paramount Global has a strong future ahead of it and so does broadcast television, despite the uncertainty that has enveloped Hollywood in general and Paramount in particular. That was the message sent Thursday by CBS chief George Cheeks, who last month was also tapped as one of three CEOs to steer Paramount Global through a period that is sure to be challenging no matter what happens with the company.
Cheeks acknowledged the merger and sale activity that has swirled around Paramount Global for nearly nine months during his keynote address at Variety‘s FYC Fest daylong conference held at West Hollywood’s 1 Hotel. But he also emphazied that the tri-part Office of the CEO, consisting of Paramount Pictures chief Brian Robbins and cable head Chris McCarthy, that was established after the ouster of Paramount Global CEO Bob Bakish has a long-term plan for running the company if the much-discussed transaction...
Cheeks acknowledged the merger and sale activity that has swirled around Paramount Global for nearly nine months during his keynote address at Variety‘s FYC Fest daylong conference held at West Hollywood’s 1 Hotel. But he also emphazied that the tri-part Office of the CEO, consisting of Paramount Pictures chief Brian Robbins and cable head Chris McCarthy, that was established after the ouster of Paramount Global CEO Bob Bakish has a long-term plan for running the company if the much-discussed transaction...
- 6/6/2024
- by Cynthia Littleton
- Variety Film + TV
Netflix has found the voice of its Terminator.
The streamer has cast Timothy Olyphant as the classic character in its upcoming animated series Terminator Zero.
The news was revealed at its Next on Netflix: Animation event in LA.
The series, which launches on August 29, is set in two time periods. In 2022, a future war has raged for decades between the few human survivors and an endless army of machines. In 1997, the AI known as Skynet gained self-awareness and began its war against humanity.
Caught between the future and this past is a soldier sent back in time to change the fate of humanity. She arrives in 1997 to protect a scientist named Malcolm Lee who works to launch a new AI system designed to compete with Skynet’s impending attack on humanity. As Malcolm navigates the moral complexities of his creation, he is hunted by an unrelenting assassin from the future...
The streamer has cast Timothy Olyphant as the classic character in its upcoming animated series Terminator Zero.
The news was revealed at its Next on Netflix: Animation event in LA.
The series, which launches on August 29, is set in two time periods. In 2022, a future war has raged for decades between the few human survivors and an endless army of machines. In 1997, the AI known as Skynet gained self-awareness and began its war against humanity.
Caught between the future and this past is a soldier sent back in time to change the fate of humanity. She arrives in 1997 to protect a scientist named Malcolm Lee who works to launch a new AI system designed to compete with Skynet’s impending attack on humanity. As Malcolm navigates the moral complexities of his creation, he is hunted by an unrelenting assassin from the future...
- 6/6/2024
- by Peter White
- Deadline Film + TV
There are multiple offers on the table for Paramount, but the company’s three-headed ‘Office of the CEO’ has a plan if all the deals fall through.
Paramount Global is entering its seventh month of merger and acquisition discussions, and whether or not there is an end in sight remains a bit cloudy. In December, news first broke that the company had begun initial discussions with Warner Bros. Discovery about a potential combination of the two media conglomerates. Those talks came to naught, but more seriously interested parties have emerged to evaluate Paramount’s assets in the meantime. Earlier this week, the special committee established by Paramount to evaluate M&a opportunities approved a bid by Skydance Media and its owner David Ellison, but one of the company’s major shareholder has publicly expressed its disapproval of the deal. With all of the confusion over the company’s future, Paramount executives...
Paramount Global is entering its seventh month of merger and acquisition discussions, and whether or not there is an end in sight remains a bit cloudy. In December, news first broke that the company had begun initial discussions with Warner Bros. Discovery about a potential combination of the two media conglomerates. Those talks came to naught, but more seriously interested parties have emerged to evaluate Paramount’s assets in the meantime. Earlier this week, the special committee established by Paramount to evaluate M&a opportunities approved a bid by Skydance Media and its owner David Ellison, but one of the company’s major shareholder has publicly expressed its disapproval of the deal. With all of the confusion over the company’s future, Paramount executives...
- 6/6/2024
- by David Satin
- The Streamable
The three execs who lead Paramount Global’s “Office of the CEO” have called off their planned town hall meeting with employees that had been scheduled for Wednesday, June 5, citing “ongoing speculation regarding potential M&a.”
The trio — CBS CEO George Cheeks, Paramount CEO Brian Robbins and Chris McCarthy, CEO of Showtime/MTV Entertainment Studios — rescheduled the event for June 25. The move comes as Shari Redstone is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended and submitted for Redstone’s review over the weekend. Redstone is Paramount non-executive chair and the company’s controlling shareholder through National Amusements Inc.
“Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible,” the three executives wrote in a memo to employees. “By moving the date, our hope is to do just that.
The trio — CBS CEO George Cheeks, Paramount CEO Brian Robbins and Chris McCarthy, CEO of Showtime/MTV Entertainment Studios — rescheduled the event for June 25. The move comes as Shari Redstone is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended and submitted for Redstone’s review over the weekend. Redstone is Paramount non-executive chair and the company’s controlling shareholder through National Amusements Inc.
“Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible,” the three executives wrote in a memo to employees. “By moving the date, our hope is to do just that.
- 6/4/2024
- by Todd Spangler
- Variety Film + TV
A town hall for Paramount Global employees originally scheduled to take place Wednesday has been delayed until June 25.
In a note to employees obtained by Deadline, CEOs George Cheeks, Chris McCarthy and Brian Robbins recapped Tuesday morning’s annual shareholder meeting and also noted the rescheduling of the town hall. “Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible. By moving the date, our hope is to do just that,” they wrote.
The shift comes at a time that Paramount Global controlling shareholder, Shari Redstone, is mulling a merger offer from Skydance. The shareholder meeting largely skirted the topic of M&a, and instead gave Redstone a chance to make the case for the unorthodox Office of the CEO structure. She conceded it was unusual, but said it would harness the collective experience of three...
In a note to employees obtained by Deadline, CEOs George Cheeks, Chris McCarthy and Brian Robbins recapped Tuesday morning’s annual shareholder meeting and also noted the rescheduling of the town hall. “Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible. By moving the date, our hope is to do just that,” they wrote.
The shift comes at a time that Paramount Global controlling shareholder, Shari Redstone, is mulling a merger offer from Skydance. The shareholder meeting largely skirted the topic of M&a, and instead gave Redstone a chance to make the case for the unorthodox Office of the CEO structure. She conceded it was unusual, but said it would harness the collective experience of three...
- 6/4/2024
- by Anthony D'Alessandro and Dade Hayes
- Deadline Film + TV
Paramount Global needs to (further) reduce its staff size to compete in today’s cutthroat media landscape. Perhaps it could start by trimming a few CEOs.
After Bob Bakish was unceremoniously (but richly) exited from the company, Paramount went with an “Office of the CEO” setup, the trio of George Cheeks, Chris McCarthy, and Brian Robbins. Those three, with a lead-in from controlling shareholder Shari Redstone, ran Paramount Global’s 2024 Investor Day presentation — and a brief (and very rehearsed) Q&a — on Tuesday.
Redstone’s is the final signature required for Paramount to be merged with Skydance; a formal announcement is likely in the coming days. Until then, mum is the word on that pending deal — and Paramount Global must present to investors like the offer doesn’t exist.
Coincidentally, the three men have a three-part plan to turn around this Titanic (and maybe even tow its pieces back to...
After Bob Bakish was unceremoniously (but richly) exited from the company, Paramount went with an “Office of the CEO” setup, the trio of George Cheeks, Chris McCarthy, and Brian Robbins. Those three, with a lead-in from controlling shareholder Shari Redstone, ran Paramount Global’s 2024 Investor Day presentation — and a brief (and very rehearsed) Q&a — on Tuesday.
Redstone’s is the final signature required for Paramount to be merged with Skydance; a formal announcement is likely in the coming days. Until then, mum is the word on that pending deal — and Paramount Global must present to investors like the offer doesn’t exist.
Coincidentally, the three men have a three-part plan to turn around this Titanic (and maybe even tow its pieces back to...
- 6/4/2024
- by Tony Maglio
- Indiewire
Paramount Global’s new leadership team set out their strategic priorities for the company, including $500m in cost savings, selling non-core assets and exploring streaming joint ventures with other media companies.
The plan was presented at the company’s annual meeting of shareholders today (June 4) by its recently established Office of the CEO, which took over from Bob Bakish in April.
The Office of the CEO comprises: George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon.
The presentation...
The plan was presented at the company’s annual meeting of shareholders today (June 4) by its recently established Office of the CEO, which took over from Bob Bakish in April.
The Office of the CEO comprises: George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon.
The presentation...
- 6/4/2024
- ScreenDaily
As Paramount Global controlling shareholder Shari Redstone mulls the terms of a merger between her conglom and Skydance, the network/studio/streaming service trotted out their best and brightest CEO troika this early Am in annual global stockholders meet to tout their hit parade of 14 billion dollar revenue earning franchises across all mediums, their assurance to cut $500 million in overhead, and maximize shareholder value and profits.
With Skydance’s David Ellison knocking on Paramount Global’s door with former NBCUniversal CEO Jeff Shell in tow to execute their own strategy, today’s presentation by Brian Robbins, President & CEO of Paramount Pictures and Nickelodeon; George Cheeks, President & CEO of CBS; and Chris McCarthy, President & CEO Showtime/MTV Entertainment Studios and Paramount Media Networks, was a bullhorn to shareholders that this administration has their stuff together, to prevent any possible nosediving of the stock currently, but also an underscoring that the trio...
With Skydance’s David Ellison knocking on Paramount Global’s door with former NBCUniversal CEO Jeff Shell in tow to execute their own strategy, today’s presentation by Brian Robbins, President & CEO of Paramount Pictures and Nickelodeon; George Cheeks, President & CEO of CBS; and Chris McCarthy, President & CEO Showtime/MTV Entertainment Studios and Paramount Media Networks, was a bullhorn to shareholders that this administration has their stuff together, to prevent any possible nosediving of the stock currently, but also an underscoring that the trio...
- 6/4/2024
- by Anthony D'Alessandro
- Deadline Film + TV
Investors in Paramount Global are waiting for word on whether the latest merger offer from Skydance Media is a go. But they didn’t get any update at the media conglomerate’s awkwardly timed annual shareholders meeting Tuesday.
Shari Redstone, Paramount Global’s chair and controlling shareholder, in her introductory remarks at the virtual shareholders meeting, did not mention the pending Skydance offer. Instead, she touted the company’s content assets and leadership across CBS, Paramount Pictures and its cable networks — and turned the floor over to the three members of its “Office of the CEO,” who took over at the end of April for the ousted Bob Bakish: CBS’s George Cheeks, Paramount Pictures’ Brian Robbins and Chris McCarthy, head of Showtime/MTV Entertainment Studios.
“While we recognize this is not a traditional management structure,” Redstone said, the three-in-a-box leadership team is intended to help the company “take...
Shari Redstone, Paramount Global’s chair and controlling shareholder, in her introductory remarks at the virtual shareholders meeting, did not mention the pending Skydance offer. Instead, she touted the company’s content assets and leadership across CBS, Paramount Pictures and its cable networks — and turned the floor over to the three members of its “Office of the CEO,” who took over at the end of April for the ousted Bob Bakish: CBS’s George Cheeks, Paramount Pictures’ Brian Robbins and Chris McCarthy, head of Showtime/MTV Entertainment Studios.
“While we recognize this is not a traditional management structure,” Redstone said, the three-in-a-box leadership team is intended to help the company “take...
- 6/4/2024
- by Todd Spangler
- Variety Film + TV
“I don’t want to be a market failure,” which is “what’s happening around the world” to public service broadcasters, BBC boss Tim Davie told Deloitte’s Media & Telecoms 2024 and Beyond Conference in London on Tuesday. “It’s scary,” he said, speaking of a “red alert situation” in many parts of the world.
Davie in an appearance lauded the U.K. production sector for its success, but also noted that “many decisions we make are uneconomic.” That said, while the goal is to continue making and airing hit shows that audiences enjoy and love, “we don’t have to make the numbers work on every single show” as a public broadcaster to ensure important, educative and other shows make it to the screen, he emphasized.
“We have a rich history of working together” with other companies, Davie said about the BBC, as well as other U.K. public broadcasters.
Davie in an appearance lauded the U.K. production sector for its success, but also noted that “many decisions we make are uneconomic.” That said, while the goal is to continue making and airing hit shows that audiences enjoy and love, “we don’t have to make the numbers work on every single show” as a public broadcaster to ensure important, educative and other shows make it to the screen, he emphasized.
“We have a rich history of working together” with other companies, Davie said about the BBC, as well as other U.K. public broadcasters.
- 6/4/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
According to reports, the future of Paramount has finally been decided, with Skydance Media merging with the famous old studio in a deal worth $8bn.
It’s been a long time coming but the future of Paramount Pictures and its parent company Paramount Global has seemingly been decided. As has long been suspected, the company will be merging with Skydance Media in a deal which is set to be worth around $8bn.
So what does this mean for the future of Paramount Pictures, a storied Hollywood institution? Shari Redstone – the controlling stakeholder in Paramount Global – is said to have favoured the Skydance Media bid over a competing bid that reportedly involved Sony) because Skydance had expressed a desire to keep the company whole rather than purchasing it and then selling off its assets. She’s taken a lower price to ensure this happens, and fair play to her. Even though...
It’s been a long time coming but the future of Paramount Pictures and its parent company Paramount Global has seemingly been decided. As has long been suspected, the company will be merging with Skydance Media in a deal which is set to be worth around $8bn.
So what does this mean for the future of Paramount Pictures, a storied Hollywood institution? Shari Redstone – the controlling stakeholder in Paramount Global – is said to have favoured the Skydance Media bid over a competing bid that reportedly involved Sony) because Skydance had expressed a desire to keep the company whole rather than purchasing it and then selling off its assets. She’s taken a lower price to ensure this happens, and fair play to her. Even though...
- 6/4/2024
- by Dan Cooper
- Film Stories
Und nun doch Skydance: Wie u. a. der gut informierte Filmindustrie-Journalist Matt Belloni in Puck berichtet, muss nur noch National-Amusements-Chefin Shari Redstone endgültig grünes Licht geben, dann kann David Ellison nach einem letzten nachgebesserten Angebot für die B-Aktionäre Paramount Global übernehmen.
Shari Redstone trifft die finale Entscheidung (Credit: Imago / Avalon.red)
Der Deal als solcher sei unter Dach und Fach, lassen die ersten Entertainment-Blogger wissen. Etwas mehr als einen Monat, nachdem das exklusive Verhandlungsfenster für Skydance um eine Übernahme von Paramount Global ausgelaufen war und es so ausgesehen hatte, als würde David Ellison mit seinem beim Aufsichtsrat wenig geliebten Angebot den Kürzeren ziehen, wird sich die junge Finanzierungs- und Produktionsfirma, die längst hinter den großen Marken von Paramount steht, zuletzt „Mission: Impossible“ und „Transformers“, nun doch durchsetzen. Während Sony/Apollo mit ihrem gerade noch so attraktiv erscheinenden Angebot wohl den Kürzeren zieht, hat Ellison die Oberhand gewonnen.
Nach Informationen des...
Shari Redstone trifft die finale Entscheidung (Credit: Imago / Avalon.red)
Der Deal als solcher sei unter Dach und Fach, lassen die ersten Entertainment-Blogger wissen. Etwas mehr als einen Monat, nachdem das exklusive Verhandlungsfenster für Skydance um eine Übernahme von Paramount Global ausgelaufen war und es so ausgesehen hatte, als würde David Ellison mit seinem beim Aufsichtsrat wenig geliebten Angebot den Kürzeren ziehen, wird sich die junge Finanzierungs- und Produktionsfirma, die längst hinter den großen Marken von Paramount steht, zuletzt „Mission: Impossible“ und „Transformers“, nun doch durchsetzen. Während Sony/Apollo mit ihrem gerade noch so attraktiv erscheinenden Angebot wohl den Kürzeren zieht, hat Ellison die Oberhand gewonnen.
Nach Informationen des...
- 6/4/2024
- by Thomas Schultze
- Spot - Media & Film
Paramount Global shares rose 7.5% to close at $12.80 Monday on the news that a long-awaited merger with Skydance Media moved closer to completion.
The company’s stock has declined markedly in recent years, falling to about one-third of its level in late-2019, when the reunion of CBS and Viacom became official. As various M&a scenarios circulated over the past three months, however, including a now-less-likely transaction involving Sony Pictures Entertainment and private equity giant Apollo, the shares have risen almost 30%. Monday’s spike, on higher-than-average trading volume, showed investor’s continued belief in the near-term upside of an acquisition.
Skydance has been in talks for months with Shari Redstone’s National Amusements Inc., which controls 77% of Paramount’s voting shares but only 10% of its equity. The David Ellison-led suitor appears to have largely satisfied many initial critics who viewed his previous offers as sweetheart deals for Redstone. According to multiple press reports,...
The company’s stock has declined markedly in recent years, falling to about one-third of its level in late-2019, when the reunion of CBS and Viacom became official. As various M&a scenarios circulated over the past three months, however, including a now-less-likely transaction involving Sony Pictures Entertainment and private equity giant Apollo, the shares have risen almost 30%. Monday’s spike, on higher-than-average trading volume, showed investor’s continued belief in the near-term upside of an acquisition.
Skydance has been in talks for months with Shari Redstone’s National Amusements Inc., which controls 77% of Paramount’s voting shares but only 10% of its equity. The David Ellison-led suitor appears to have largely satisfied many initial critics who viewed his previous offers as sweetheart deals for Redstone. According to multiple press reports,...
- 6/3/2024
- by Dade Hayes
- Deadline Film + TV
Shari Redstone, whose National Amusements owns a controlling interest in Paramount Pictures parent Paramount Global, is reportedly weighing up a modified takeover offer of around $8bn from David Ellison’s Skydance Media and his backers RedBird Capital.
On the eve of Paramount Global’s annual general meeting on Tuesday, CNBC reported that the latest offer would see Redstone receive $2bn for National Amusements, while Skydance would pay $4.5bn to buy out half of Paramount Global Class B shareholders at $15 per share.
Skydance and RedBird have reportedly offered to pay $1.5bn in cash to reduce Paramount Global debt.
The overall deal...
On the eve of Paramount Global’s annual general meeting on Tuesday, CNBC reported that the latest offer would see Redstone receive $2bn for National Amusements, while Skydance would pay $4.5bn to buy out half of Paramount Global Class B shareholders at $15 per share.
Skydance and RedBird have reportedly offered to pay $1.5bn in cash to reduce Paramount Global debt.
The overall deal...
- 6/3/2024
- ScreenDaily
Paramount: Now (finally) Under New Ownership! A special committee at the company has approved a deal that will merge Paramount Global with Skydance after David Ellison acquires National Amusements, Inc. (Nai) for about $2 billion.
The National Amusements theater chain has a controlling interest in Paramount. Skydance Media CEO Ellison is paying for that control, and then he’ll make Paramount buy his production company.
All told, it is expected to cost Ellison and his financial backers at RedBird Capital Partners in the ballpark of $8 billion to make this happen, as first reported by CNBC’s David Faber. On top of Shari Redstone’s $2 billion for her family’s Nai, $4.5 billion more will go to current Paramount shareholders; another $1.5 billion in cash will be contributed to Paramount’s balance sheet. The numbers are pretty fresh and could still change some, a person with knowledge of the goings-on tells IndieWire.
The...
The National Amusements theater chain has a controlling interest in Paramount. Skydance Media CEO Ellison is paying for that control, and then he’ll make Paramount buy his production company.
All told, it is expected to cost Ellison and his financial backers at RedBird Capital Partners in the ballpark of $8 billion to make this happen, as first reported by CNBC’s David Faber. On top of Shari Redstone’s $2 billion for her family’s Nai, $4.5 billion more will go to current Paramount shareholders; another $1.5 billion in cash will be contributed to Paramount’s balance sheet. The numbers are pretty fresh and could still change some, a person with knowledge of the goings-on tells IndieWire.
The...
- 6/3/2024
- by Brian Welk and Tony Maglio
- Indiewire
Paramount Global’s months-long M&a drama may soon be coming to a conclusion.
The special committee established by Paramount Global’s board of directors to evaluate M&a proposals has reached an agreement with David Ellison’s Skydance Media and his private-equity backers on the terms of a complicated deal that would merge Skydance and Paramount while keeping Paramount publicly traded, Variety has confirmed. Skydance and its partners, RedBird Capital and Kkr, sweetened the original buyout offer to make it more attractive to nonvoting shareholders of Paramount Global.
Now, the deal awaits approval by Shari Redstone, non-executive chair of Paramount Global, whose National Amusements Inc. owns 77% of the voting shares in Paramount Global. Redstone has not officially decided whether or not to go forward on the deal, sources said — and the terms of the Skydance-nai part of the agreement have yet to be worked out. If she does agree, it...
The special committee established by Paramount Global’s board of directors to evaluate M&a proposals has reached an agreement with David Ellison’s Skydance Media and his private-equity backers on the terms of a complicated deal that would merge Skydance and Paramount while keeping Paramount publicly traded, Variety has confirmed. Skydance and its partners, RedBird Capital and Kkr, sweetened the original buyout offer to make it more attractive to nonvoting shareholders of Paramount Global.
Now, the deal awaits approval by Shari Redstone, non-executive chair of Paramount Global, whose National Amusements Inc. owns 77% of the voting shares in Paramount Global. Redstone has not officially decided whether or not to go forward on the deal, sources said — and the terms of the Skydance-nai part of the agreement have yet to be worked out. If she does agree, it...
- 6/3/2024
- by Todd Spangler
- Variety Film + TV
Late last year, there were rumblings of a possible merger being considered with two movie studio giants — Warner Bros. and Paramount. It was reported that Zaslav met with Paramount Global CEO Bob Bakish in New York City to discuss a possible merger. The potential merger would bring many iconic entertainment franchises under one roof, including Star Trek, Harry Potter, Looney Tunes, Transformers, Mission: Impossible, DC, and more. It would also likely see the two streaming services — Max and Paramount+ — combine in order to more effectively challenge Netflix and Disney+.
Wall Street analysts were skeptical of that deal and knew that both companies would have to jump through significant hurdles in order for the deal to go through. That deal would ultimately fall through, but the New York Post is now reporting on a merger that has been sealed. Paramount and Skydance have just agreed to terms that will see both...
Wall Street analysts were skeptical of that deal and knew that both companies would have to jump through significant hurdles in order for the deal to go through. That deal would ultimately fall through, but the New York Post is now reporting on a merger that has been sealed. Paramount and Skydance have just agreed to terms that will see both...
- 6/3/2024
- by EJ Tangonan
- JoBlo.com
Skydance juiced the amount of money non-voting shareholders would get for their Paramount stock in its latest proposal.
Just when Skydance thought it was out, Paramount pulled the production company back in. According to The Wall Street Journal, merger and acquisition talks between the two sides reignited last week after Skydance sweetened its offer to provide substantial compensation for non-voting shareholders. Now, CNBC’s David Faber reports that Skydance is ready to announce that it will take over the entertainment conglomerate.
Key Details: Skydance improved its offer to include a purchase of some non-voting shares for $15 each, a 26% premium over the stock’s current value. Paramount’s special M&a committee has officially endorsed the deal ahead of the annual shareholders meeting. **The Skydance offer would keep Paramount as one cohesive company, as opposed to the Sony/Apollo bid. 7-Day Free Trial $5.99+ / month ParamountPlus.com
For a limited time, get 50% off...
Just when Skydance thought it was out, Paramount pulled the production company back in. According to The Wall Street Journal, merger and acquisition talks between the two sides reignited last week after Skydance sweetened its offer to provide substantial compensation for non-voting shareholders. Now, CNBC’s David Faber reports that Skydance is ready to announce that it will take over the entertainment conglomerate.
Key Details: Skydance improved its offer to include a purchase of some non-voting shares for $15 each, a 26% premium over the stock’s current value. Paramount’s special M&a committee has officially endorsed the deal ahead of the annual shareholders meeting. **The Skydance offer would keep Paramount as one cohesive company, as opposed to the Sony/Apollo bid. 7-Day Free Trial $5.99+ / month ParamountPlus.com
For a limited time, get 50% off...
- 6/3/2024
- by David Satin
- The Streamable
Vor Wochenfrist hat sich Skydance im Bieterwettstreit um Paramount Global zurückgemeldet. Kurz vor der Paramount-Hauptversammlung am morgigen Dienstag sind jetzt neue Details zum überarbeiteten Angebot bekannt geworden.
Skydance-Gründer und -Chef David Ellison (Credit: Imago / TheNews2)
Wenige Tage, nachdem sich Skydance im Bieterwettstreit um Paramount Global zurückgemeldet hat, sind jetzt neue Details zu dem überarbeiteten Angebot bekannt geworden – kurz vor der morgen stattfindenden Hauptversammlung von Paramount Global.
Wie US-Wirtschaftsmedien berichten, sollen die nicht-stimmberechtigten Aktionäre von Paramount Global 15 Dollar pro Aktie erhalten; das entspricht in etwa einem Plus von 26 Prozent gegenüber dem Schlusskurs vom gestrigen Sonntag. Darüber hinaus wolle Skydance zunächst National Amusements, das 80 Prozent der stimmberechtigten Aktien von Paramount Global, aber nur rund zehn Prozent von dessen Aktienwert kontrolliert, übernehmen. In einem zweiten Schritt soll Paramount Global dann mit entsprechenden Barmitteln ausgestattet werden, um dann seinerseits Skydance zu übernehmen. Die Berichte wurden weder von Skydance, noch von Paramount Global oder National Amusements kommentiert.
Skydance-Gründer und -Chef David Ellison (Credit: Imago / TheNews2)
Wenige Tage, nachdem sich Skydance im Bieterwettstreit um Paramount Global zurückgemeldet hat, sind jetzt neue Details zu dem überarbeiteten Angebot bekannt geworden – kurz vor der morgen stattfindenden Hauptversammlung von Paramount Global.
Wie US-Wirtschaftsmedien berichten, sollen die nicht-stimmberechtigten Aktionäre von Paramount Global 15 Dollar pro Aktie erhalten; das entspricht in etwa einem Plus von 26 Prozent gegenüber dem Schlusskurs vom gestrigen Sonntag. Darüber hinaus wolle Skydance zunächst National Amusements, das 80 Prozent der stimmberechtigten Aktien von Paramount Global, aber nur rund zehn Prozent von dessen Aktienwert kontrolliert, übernehmen. In einem zweiten Schritt soll Paramount Global dann mit entsprechenden Barmitteln ausgestattet werden, um dann seinerseits Skydance zu übernehmen. Die Berichte wurden weder von Skydance, noch von Paramount Global oder National Amusements kommentiert.
- 6/3/2024
- by Jochen Müller
- Spot - Media & Film
Updated with new timeline. Paramount Global and Skydance have agreed to terms on a merger, a person familiar with the deal talks has confirmed to Deadline, with Paramount controlling shareholder Shari Redstone taking a final look.
CNBC reported the stepped-up timeline earlier Monday. As Deadline and other media outlets reported over the weekend, a revised offer from Skydance had gained more traction, though it did not initially appear likely that anything would be firmed up before Tuesday’s annual shareholder meeting. That event was already set to be a significant one, with the three executives sharing the Office of the CEO laying out their strategic plans for the company.
Redstone, through National Amusements, controls 77% of the voting shares of Paramount.
Previously:
As Paramount Global approaches Tuesday’s annual shareholder meeting and a high-stakes town hall for employees the following day, new details are emerging about Skydance Media’s latest acquisition offer.
CNBC reported the stepped-up timeline earlier Monday. As Deadline and other media outlets reported over the weekend, a revised offer from Skydance had gained more traction, though it did not initially appear likely that anything would be firmed up before Tuesday’s annual shareholder meeting. That event was already set to be a significant one, with the three executives sharing the Office of the CEO laying out their strategic plans for the company.
Redstone, through National Amusements, controls 77% of the voting shares of Paramount.
Previously:
As Paramount Global approaches Tuesday’s annual shareholder meeting and a high-stakes town hall for employees the following day, new details are emerging about Skydance Media’s latest acquisition offer.
- 6/2/2024
- by Dade Hayes
- Deadline Film + TV
Paramount Global’s independent special committee agreed to recommend a revised offer from David Ellison’s Skydance Media, paving a way for the potential merger of his production company with the struggling media conglomerate, according to the Wall Street Journal and other media reports.
The decision, which follows months of negotiations, now puts the fate of the media conglomerate in the hands of controlling shareholder Shari Redstone.
Representatives for Paramount and Skydance declined to comment.
Under Skydance’s initial two-step plan, the company offered around $2 billion to acquire Redstone’s National Amusements, which owns 77% of Paramount’s class A voting stock and 5.2% of its class B common stock. The second step would then see Skydance merge with Paramount to create a combined company valued at around $5 billion.
An individual familiar with the plan previously told TheWrap that former NBCUniversal CEO Jeff Shell and Skydance’s chief creative officer Dana Goldberg...
The decision, which follows months of negotiations, now puts the fate of the media conglomerate in the hands of controlling shareholder Shari Redstone.
Representatives for Paramount and Skydance declined to comment.
Under Skydance’s initial two-step plan, the company offered around $2 billion to acquire Redstone’s National Amusements, which owns 77% of Paramount’s class A voting stock and 5.2% of its class B common stock. The second step would then see Skydance merge with Paramount to create a combined company valued at around $5 billion.
An individual familiar with the plan previously told TheWrap that former NBCUniversal CEO Jeff Shell and Skydance’s chief creative officer Dana Goldberg...
- 5/31/2024
- by Lucas Manfredi
- The Wrap
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