PARAMOUNT GLOBAL-CLASS B

15 Aug

Edgar Bronfman to Prepare an Offer for Paramount Global

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Seagram Co. heir Edgar Bronfman Jr. is close to making an offer for Paramount Global that would compete with an accepted bid from Skydance Media, according to people familiar with his plans.Bronfman is considering an offer for National Amusements, the Redstone family company that controls Paramount, as well as an investment in Paramount itself, according to one of the people, who asked not to be identified discussing plans that aren’t public. The structure is still being worked on. Source link lol

The Race Is On to Build The Next Profitable Streaming Service

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The five major Hollywood streaming services reported a collective profit of $3.2 billion in the first six months of this year. Source link lol

Paramount Takes $6 Billion TV Network Charge, Joins Warner Bros.

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Paramount Global, the parent of Nickelodeon, MTV and other channels, took a second-quarter impairment charge of $5.98 billion on its cable networks, in yet another sign of weakness in the traditional TV industry.The company made the decision after reevaluating the businesses in light of declining profit projections, shifts in the cable-TV subscriber marketplace and the recently agreed-to merger with Skydance Media, according to a statement Thursday. Source link lol