All articles tagged with #skydance media
Bari Weiss has joined CBS News as editor in chief, with a mandate to promote balanced and fact-based reporting, while her news site The Free Press becomes part of Skydance Media, reflecting a shift towards more diverse political viewpoints in the network's coverage.
Shari Redstone, after decades of fighting to control her family's media empire, Paramount, finally sold her stake to Skydance Media in 2024, relinquishing her control of the company she once fought to lead, in a deal valued at $8 billion that included significant personal payments.
The Redstone family's control over Paramount and CBS has ended with the sale of Paramount Global to David Ellison's Skydance Media for about $8 billion, marking a significant shift in the media landscape and concluding a tumultuous era for the Redstone legacy.
David Ellison's Skydance Media completed its $8 billion acquisition of Paramount, amid questions about a rumored deal involving President Trump and free advertising, which Ellison declined to confirm. The merger aims to transform Paramount into a tech-forward company with a strong streaming service, while maintaining its legacy of impactful journalism. The deal also involved significant financial arrangements, including payments to shareholders and debt reduction, positioning the new Paramount for future growth.
Skydance Media has announced its senior leadership team ahead of its merger with Paramount Global, with key executives overseeing various divisions such as film, TV, and streaming, under the leadership of David Ellison who will become CEO and chairman of Paramount after the deal closes.
Paramount TV Studios is being revived under new leadership with Matt Thunell as head, absorbing Skydance Television and Showtime/MTV Entertainment Studios, with Taylor Sheridan's series remaining a key focus, and Keith Cox continuing to work on Sheridan's projects.
Larry Ellison and his son David Ellison orchestrated an $8 billion merger between Paramount and Skydance Media, transforming their influence in Hollywood, with Larry controlling the equity and David overseeing operations, amid regulatory concessions and strategic financial arrangements.
President Donald Trump announced he received a $16 million settlement from CBS over a lawsuit related to '60 Minutes' and suggested he might receive an additional $20 million from future owners Skydance Media, amid ongoing controversy over CBS's decision to cancel 'The Late Show with Stephen Colbert' and broader media disputes.
Paramount Global has settled a lawsuit with Donald Trump over '60 Minutes,' but uncertainty remains about its ongoing merger with Skydance Media, amid declining TV revenues, industry shifts to streaming, and internal challenges. The company's future seems increasingly tied to its streaming operations, while traditional TV and key partnerships face difficulties, delaying the merger and raising questions about Paramount's strategic direction.
Paramount settled a $20 billion lawsuit with President Trump over a '60 Minutes' interview for $16 million, amid corporate struggles and a potential sale to Skydance Media, highlighting internal divisions and the influence of high-profile stakeholders.
Donald Trump praised Skydance Media CEO David Ellison amid ongoing merger approval with Paramount and settlement talks related to a lawsuit over 60 Minutes' editing of an interview with Kamala Harris, which Trump claims was manipulated and 'election threatening.' The lawsuit, filed by Trump, alleges deceptive editing, but legal experts consider it meritless. The FCC is reviewing the merger, and settlement negotiations are ongoing.
Paramount Global reported its second consecutive quarter of profit in its streaming segment, with a significant reduction in streaming losses compared to last year. However, overall revenue fell short of expectations due to continued declines in its linear TV and studio segments. The company is preparing for a merger with Skydance Media, expected in 2025, and aims for domestic profitability for Paramount+ by then. Despite streaming success, management anticipates a loss in the fourth quarter. Paramount+ gained 3.5 million subscribers, driven by sports and original content, and saw an 18% increase in streaming ad revenue.
Paramount Global, a historic Hollywood studio, is facing a potential new era as it navigates the challenges of the streaming age and considers takeover bids from Skydance Media and Sony Pictures. Shari Redstone, chair of Paramount Global, is weighing her options amidst corporate upheaval and shareholder dissatisfaction, with the future of the studio and its iconic lot hanging in the balance.
Paramount Global shares fell nearly 5% after the company's annual meeting, where executives announced a $500 million cost-cutting plan and the search for a strategic partner for its streaming service, Paramount+. Hopes for a merger with Skydance Media dimmed as controlling shareholder Shari Redstone appeared to waver on the deal, considering other offers. The company's direct-to-consumer business, including Paramount+, is expected to lose $1.3 billion in 2024, prompting the need for a turnaround plan.
Paramount Global's co-CEOs postponed a town hall meeting due to ongoing speculation about a potential merger with Skydance Media. The meeting, initially set for June 5, has been rescheduled for June 25 to allow for more transparent communication. This comes as Shari Redstone, Paramount's non-executive chair, evaluates a merger offer from Skydance Media.