Latest in paramount global

Shares of Paramount Global are softer Tuesday after Edgar Bronfman Jr. exited the Paramount fray last night and shareholders hoping for a bidding war with Skydance were disappointed. “It was a long shot to begin with,” said one investor of Bronfman’s offer. “But you always want a competitive process…

A special committee of Paramount Global’s board set up to steer its M&A process has declared an end to the “go-shop” period in its pending Skydance Media merger and says the transaction will close in the first half of 2025. In a statement tonight following the withdrawal of a rival bid led by Edgar Br…

The Paramount Global ball is back in Skydance’s court as Edgar Bronfman has discontinued his short-lived $6 billion bid to take control of the Shari Redstone-run media giant. "Tonight, our bidding group informed the special committee that we will be exiting the go-shop process. It was a privilege to…

Skydance Media is urging Paramount Global to stop considering a proposal by an investor group led by Edgar Bronfman Jr. to buy control of the company, threatening to withdraw its own merger offer. In a letter from its lawyers on Thursday, Skydance told the committee of Paramount’s board of directors…

Paramount is taking more time before an official handshake with Skydance, using an extra 15 days allotted in their merger contract to explore another bid – a surprise, last-minute offer from Edgar Bronfman Jr., one that the heir to the Seagram liquor fortune has just sweetened. The special committee…

Investors backing Edgar Bronfman's bid for Paramount Global include producer Steven Paul and John Paul Dejoria, who months ago had been working on their own offer, as well as child actor Brock Pierce and Nurali Aliyev, a Kazakh businessman and grandson of the former president of Kazakhstan. UK investment…

Deadline hears that Edgar Bronfman, Jr. has made an offer for Paramount Global in a deal worth $4.3 billion, attempting to undo Par’s merger with Skydance. The offer is said to consist of a $2.4 billion payment to Shari Redstone for her family holding National Amusements, which controls Paramount…

A U.S. District Court judge has rejected an attempt by CBS Studio to dismiss a lawsuit filed by a former member of the SEAL Team writing staff who alleged he was denied employment and job opportunities in favor of less qualified applicants in “favored” groups, i.e., nonwhite, LGBTQ and female. In a ru…

As the August 21 deadline looms for other parties to make a run at Paramount (or forever hold their peace), the Wall Street Journal reports that Edgar Bronfman Jr. has not exited the Paramount scene but is in talks with investors and preparing a bid. The stock, which frequently jumps about on news…

CBS Sports CEO David Berson said the volatility at parent company Paramount Global, which is laying off 15% of its U.S. workforce and preparing to merge with Skydance Media, isn’t taking his division off its game. “There's no doubt that the media and entertainment world is incredibly complex these…

There have been two major rounds of layoffs at Paramount Global this year, with Paramount Television Studios as a primary target in both. After its team was gutted in the February 13 cuts, as part of today’s reductions, the division is being shuttered altogether. It will cease operations after 11 years at…

Paramount Global has officially initiated long-planned layoffs as it looks to reduce its U.S.-based workforce by 15%. The first of three stages of staff reductions is beginning today, with 90% of the total cuts to be completed by the end of September. George Cheeks, Chris McCarthy and Brian Robbins…