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PARAA

Paramount Global

https://www.paramount.com

Industry

Entertainment

Paramount Global operates as a media and entertainment company worldwide. The company distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; acquires or develops, and schedules programming on the CBS Television Network that includes primetime comedies and dramas, reality, specials, kids' programs, daytime dramas, game shows, and late night programs; produces or distributes talk shows, court shows, game shows, and newsmagazines; owns and operates 29 broadcast television stations; and operates CBS Sports Network, a 24-hour cable channel that provides sports and related content, as well as streaming and cable subscription services. It also operates Paramount+, a digital subscription video on-demand and live streaming services; and creates and acquires programming for distribution and viewing on various media platforms, including subscription cable networks, subscription streaming, and premium and basic cable networks. In addition, the company develops, produces, finances, acquires, and distributes films. Paramount Global was formerly known as ViacomCBS Inc. and changed its name to Paramount Global in February 2022. The company was incorporated in 1986 and is headquartered in New York, New York. Paramount Global operates as a subsidiary of National Amusements, Inc.

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Skydance Media, RedBird Capital, and KKR are in exclusive talks with Paramount Global for a significant stake, potentially leading to a merger with Skydance's studio. The deal, still under negotiation, could see Skydance and partners owning around 45% to just over 50% of Paramount Global. The transaction aims to transform Paramount into a more future-focused media company, leveraging Oracle's technology. Paramount Global's financial struggles include a 1.7% revenue decline in 2023 and a downgrade to junk status by S&P Global Ratings. Other potential buyers like Apollo Global Management and Warner Bros. Discovery have shown interest in Paramount Global.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 3:12 pm

Paramount Global has entered exclusive merger talks with Skydance Media, rejecting a $26 billion offer from Apollo Global Management. The decision, which surprised many including LightShed Ventures' Rich Greenfield, could end Shari Redstone's control over Paramount. Following the announcement, Paramount's shares surged nearly 15%. The merger with Skydance, led by David Ellison, aims to acquire National Amusements, significantly impacting the media industry amidst challenges like Hollywood strikes and a weak advertising market.

Portfolio Pulse from Benzinga Neuro

April 04, 2024 | 2:23 pm

Paramount Global's stock is on the rise after reports emerged that its board members have opted for exclusive merger discussions with Skydance.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:39 pm

A new survey by Self Financial reveals AppleTV+ as the streaming platform with the smallest library but the highest rated content according to IMDb scores. Despite its size, AppleTV+ leads in content quality with a score of 7.01 out of 10. Prime Video has the largest library, and Netflix has the highest number of shows rated 8 or above. The study also notes the average consumer spends $52.97 per month on streaming services, with a Deloitte survey indicating an average spend of $61 on SVOD services. Apple's investment in blockbuster movies and sports rights, despite mixed box office success, underscores its strategy to prioritize quality, positioning AppleTV+ as a competitive choice for consumers focusing on content quality.