The Paramount logo is a mountain with a coronet of stars. Its sale still has a mountain to climb and the final outcome – pre-deal or post – is likely to be the current contenders, and others, picking and choosing between those star divisions of the business. When the movie (low budget straight to streaming) […]
The Board of Directors of Paramount Global has announced that – as expected – Bob Bakish, President and CEO, is stepping down from his role as CEO and from the Board of Directors. To lead and oversee the company moving forward, Paramount Global has established an Office of the CEO, consisting of three senior company […]
Bob Bakish, Paramount Global CEO, is reportedly set to resign – or be ousted from the company – amid tensions as the company explores a merger. The media conglomerate is currently in a 30-day exclusive negotiating period with Skydance Media, who have partnered with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder […]
Paramount has commenced layoffs with US-based employees affected by the cutbacks set to be notified immediately. A memo from CEO Bob Bakish did not disclose numbers, but Deadline reports an estimated 800 staff will be axed. Bakish had confirmed the planned cutbacks at a Bob Live town hall event in January. At the end of […]
Studio giants Warner Bros Discovery (WBD) and Paramount Global are in early merger talks according to reports. A resultant deal would create a company with a market value of some $38bn (€34.7bn). It is understood that WBD President & CEO David Zaslav and Paramount CEO Bob Bakish discussed a possible deal over lunch in New […]
Paramount Global has reported Q3 financial results to September 30th 2023, with strong growth in both DTC revenue and streaming subscribers. Bob Bakish, Paramount Global CEO, commented: “We continue to execute our strategy and prioritise prudent investment in streaming while maximising the earnings of our traditional business. In Q3, we successfully grew Direct- to-Consumer revenue […]
Bob Bakish, head of Paramount, told an audience at MIPCOM that suggestions the Hollywood strikes had saved his company was ‘wildly overstated’. Bakish allowed that “the strike is accretive to cash in 2023 and that is true for the industry [as a whole]… We are playing the hand we were dealt,” he said at a […]
The MTV Staying Alive Foundation, Paramount Global’s non-profit dedicated to equipping and empowering young people to make informed choices about their health, rights and well-being, today marked its 25th anniversary, which coincides with the UN General Assembly’s Sustainable Development Goals agenda in New York, where world leaders are focusing on renewing momentum and action. The […]
Paramount CEO Bob Bakish says the stand-off between Charter and Disney is an “inevitable” consequence of the trends in DTC and pay-TV and their apparent incompatibility. He says ralationships have to “modernise” and says his company is a good example. “Frankly, it wasn’t a surprise, the exact timing was, but it was inevitable that something […]
Paramount Global reported Q2 revenue of $7.62 billion (€6.96bn), slightly above analyst estimates. The company reported a direct-to-consumer loss of $424 million in Q2 compared to a loss of $445 million in the prior-year period and a loss of $511 million in Q1. The company says it expects streaming losses to peak this year after […]