National Amusements Halts Merger Talks with Skydance Media
National Amusements, controlled by Shari Redstone, halts discussions with Skydance Media regarding a potential merger, impacting Paramount Global. Paramount’s shares decline by 10% following the news. Redstone now focuses on selling National Amusements separately, attracting interest from groups led by Steven Paul and Edgar Bronfman Jr. Former President Donald Trump to meet with GOP senators in Washington D.C. to discuss future plans. Israel claims Hamas rejected a proposal for hostages and ceasefire.
Shake-up at Paramount Leaves Industry Uncertain
The recent shake-up at Paramount, with Bob Bakish’s departure and negotiations with Skydance, has left industry insiders uncertain about the company’s future. Shareholders are concerned about the sudden exit amidst ongoing merger talks with charter communications. Speculation surrounds disagreements over the Skydance deal, as Shari Redstone pushes for a potential agreement. Industry veteran Ariel’s Rogers suggests exploring other options like a deal with Apollo and Sony. The focus remains on securing a stable future for Paramount amidst leadership changes and potential deals in the entertainment industry.
Paramount Q1 CY2024 Earnings Report Falls Short of Expectations
Paramount (NASDAQ:PARA) falls short of revenue estimates in Q1 CY2024 earnings report, but shows improvement in non-GAAP profit. Despite challenges in broadcasting sector, company maintains consistent growth with annualized revenue growth rate of 1.9% over the past five years.
Paramount Global Potential Change of Control in the Works
Skydance Media, led by David Ellison, is looking to purchase $3 billion of Paramount shares to bolster the company’s financial position. The Redstone family may grant nonvoting shareholders a say in any transaction, with discussions ongoing. Paramount’s board is cautious in accepting the deal amidst significant shareholder unrest. Ellison’s offer includes acquiring controlling shares, injecting capital, and integrating Skydance into the company. The potential deal has faced opposition from shareholders concerned about diluting nonvoting stakes.
Glen Powell to Star in Edgar Wright’s Adaptation of Stephen King’s ‘The Running Man’
Glen Powell, known for his role in ‘Top Gun: Maverick’, is set to star in Edgar Wright’s adaptation of Stephen King’s ‘The Running Man’ for Paramount Pictures. The dystopian action film, based on King’s novel published under the pseudonym Richard Bachman, will see Powell stepping into the role originally played by Arnold Schwarzenegger in the 1987 cult classic. Paramount Pictures made the announcement about Powell’s casting during CinemaCon, the annual exhibition trade show for theater owners in Las Vegas.
Paramount Confirms Transformers-G.I. Joe Crossover Movie
Paramount has officially confirmed the much-anticipated crossover between Transformers and G.I. Joe for a new feature film. Steven Spielberg is set to serve as the executive producer for the upcoming film, generating significant excitement and anticipation among fans of both franchises.
Christopher Nolan’s ‘Interstellar’ Set for Imax 70mm Re-Release in Honor of 10th Anniversary
Christopher Nolan’s iconic sci-fi epic ‘Interstellar’ is set to make a grand return to theaters in honor of its 10th anniversary. The film, originally grossing an impressive $731 million globally, will be re-released in Imax 70mm format this fall, promising a captivating journey back to the far reaches of space and time.
Kendrick Lamar Teams Up with ‘South Park’ Creators for Live-Action Comedy
Kendrick Lamar is teaming up with ‘South Park’ creators Matt Stone and Trey Parker for a new live-action comedy set to hit theaters on July 4, 2025. The film, distributed by Paramount Pictures, promises to bring humor to the big screen amidst tough competition from other major releases. With Lamar, Stone, and Parker behind the project, the upcoming comedy is highly anticipated by fans.
Paramount in Exclusive Talks with Skydance for Potential Deal
Paramount is in talks with Skydance for a potential deal, moving towards exclusivity. Shari Redstone is getting closer to selling her media empire, with other investors still pursuing Paramount. Apollo Global Management has submitted an $11 billion offer for the movie studio.
Apple MacBook Air to Receive Upgrade with M3 and Dual Monitor Support
Apple MacBook Air set to receive upgrade with M3 and dual monitor support, TikTok revolutionizing music discovery, Eight Sleep’s Pod 3 Cover promising improved sleep quality, Paramount Plus gearing up to release musical movie Mean Girls in 2024, available on March 5 with different subscription plans and free trial.