Paramount Global

Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company's digital streaming services, CBS All Access and CBSN. The Cable Networks segment includes Showtime Networks, CBS Sports Network, and Smithsonian Networks. The Publishing segment manages Simon & Schuster's consumer book publishing business with imprints such as Simon & Schuster, Pocket Books, Scribner, and Atria Books. The Local Media segment handles CBS Television Stations and CBS Local Digital Media, with revenues generated primarily from advertising sales and retransmission fees. The company was founded by Sumner Murray Redstone in 1986 and is headquartered in New York, NY.

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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.

Paramount Board Special Committee Confirms Skydance Merger Will Close In First Half Of 2025, Says “Go-Shop” Period “Has “Concluded”

NEW YORK , Aug. 26, 2024 /PRNewswire/ -- The Special Committee of the Board of Directors (the "Special Committee") of Paramount Global (NASDAQ: PARA, PARAA) ("Paramount" or "the Company") today confirmed that it has been informed by Edgar Bronfman, Jr. that the acquisition proposal from his consortium of investors (the "Bronfman Consortium") has been withdrawn. Therefore, the "Go-Shop" period as defined in the Transaction Agreement with Skydance Media, LLC has concluded with respect to all parties.

PARAMOUNT GLOBAL'S SPECIAL COMMITTEE ANNOUNCES END OF "GO-SHOP" PROCESS

Edgar Bronfman Jr. exits his bid to own Paramount, clearing the path for Skydance Media sale. Bronfman, the ex-CEO of Warner Music Group, withdrew his bid just before the merger deadline.

Edgar Bronfman drops Paramount bid

The Paramount Global ball is back in Skydance's court as Edgar Bronfman has suddenly discontinued his $6 billion bid for the Shari Redstone-run media giant. “Tonight, our bidding group informed the special committee that we will be exiting the go-shop process.

Edgar Bronfman “Exiting” $6B Bid For Paramount, Clears Way For Skydance Merger

Edgar Bronfman Jr. has walked away from bidding for Shari Redstone's media empire, paving the way for the company to be sold to David Ellison's Skydance Media.

Edgar Bronfman Drops Bid for Paramount, Paving Way for Skydance Deal

Media veteran Edgar Bronfman on Monday said in a statement that his bidding group had pulled out of the race to take control of Paramount Global and exited the go-shop process.

Media exec Bronfman pulls out of race to acquire Paramount

Edgar Bronfman Jr. wants Paramount to partner with a tech company for streaming, per Bloomberg. Bronfman entered a bidding war with Skydance over control of Paramount with a $6 billion surprise bid.

Paramount's last-minute bidder wants to partner with a streaming service, report says

Apple

Amazon

Edgar Bronfman's plans for Paramount Global include partnering with technology companies like Amazon.com or Apple to improve its streaming TV business, Bloomberg News reported on Saturday, citing people familiar with his thinking.

Bronfman's Paramount plans include partnerships with Amazon or Apple, Bloomberg News reports

Edgar Bronfman Jr.fumbled his first opportunity to run a major Hollywood company. Decades later, he is looking for another shot.

The Seagram Heir Who Wants to Buy Paramount

Edgar Bronfman Jr. is open to having Shari Redstone stay involved at Paramount if the special committee accepts his consortium's bid for a controlling stake. Skydance's David Ellison has also held conversations with Redstone about her future with the company.

Bronfman's Paramount bid could keep Shari Redstone involved at the company

David Ellison's Skydance Media is firing back at Paramount Global, accusing a special committee at the media and entertainment giant of violating the merger deal the two companies struck last month after Paramount said it would allow more time for talks with another interested buyer, according to a report on Thursday.

Skydance reportedly accuses Paramount committee of violating merger deal

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 offer unless it does.

Skydance Urges Paramount To Spurn Edgar Bronfman-Led Offer

Skydance Media is accusing Paramount Global's special committee of directors of breaching the terms of its deal by extending the period of time when it can engage with other bidders, the Wall Street Journal reported on Thursday.

Skydance asks Paramount to stop negotiating with Bronfman, WSJ reports

Skydance Media is accusing Paramount's special committee of directors of breaching the terms of its deal by extending the period of time when it can engage with other bidders for the company, according to a letter viewed by The Wall Street Journal.

Skydance Demands That Paramount Stops Negotiating With Bronfman

Paramount Global (NASDAQ:PARA) has extended the “go shop” period of its $8 billion merger agreement with Skydance to evaluate a competing bid from media executive Edgar Bronfman Jr., the former CEO of Warner Music Group and Seagram. The company said on Wednesday it would extend the “go shop” period by 15 days to September 5 to evaluate the new bid.

Paramount to consider rival takeover bid from Edgar Bronfman Jr.

Charter Communications

Ad-Supported Streaming Home to Live Sports on CBS and Top-Rated Original Shows "Tulsa King" and "SpongeBob SquarePants" Now Included for Spectrum Video Customers at No Extra Cost STAMFORD, Conn. and NEW YORK , Aug. 22, 2024  /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) and Paramount Global (NASDAQ: PARA, PARAA) today announced that the ad-supported version of Paramount's direct-to-consumer streaming service, Paramount+ Essential, is now available in all Spectrum TV Select and Mi Plan Latino packages nationwide at no additional cost.

PARAMOUNT+ ESSENTIAL NOW AVAILABLE TO CHARTER'S SPECTRUM TV SELECT AND MI PLAN LATINO CUSTOMERS

Paramount announced a merger with Skydance Media in July. The deal, however, had a 45-day period that allowed Paramount to seek other bidders.

Looks like Paramount really does have a second bidder

Paramount's special committee on Wednesday said it would extend by 15 days an agreed-upon "go shop" period of its merger agreement with Skydance as it reviews a competing offer from Edgar Bronfman Jr. The committee said that during the initial "go shop" period it contacted more than 50 third parties to gauge potential acquisition interest.

Paramount special committee extends Skydance 'go shop' period as it reviews Bronfman offer

NEW YORK , Aug. 21, 2024 /PRNewswire/ -- The Special Committee of the Board of Directors (the "Special Committee") of Paramount Global (NASDAQ: PARA, PARAA) ("Paramount" or "the Company") today announced the receipt of an acquisition proposal from Edgar Bronfman, Jr., on behalf of a consortium of investors (the "Bronfman Consortium"), that the Special Committee has determined qualifies the Bronfman Consortium as an "Excluded Party" under the terms of the Skydance transaction agreement.  As a result, the "go shop" period is extended for the Bronfman Consortium until September 5, 2024, pursuant to the transaction agreement to which the Company remains subject.

PARAMOUNT GLOBAL'S SPECIAL COMMITTEE ANNOUNCES RECEIPT OF ACQUISITION PROPOSAL AND 15-DAY EXTENSION OF "GO SHOP" PERIOD TO CONTINUE ENGAGEMENT

Edgar Bronfman Jr. has upped his bid for Paramount Global, attempting to pry Paramount away from Skydance. Bronfman's initial offer lobbed on Monday night was worth $4.3 billion. He's now revised that to $6 billion. The same $2.

Edgar Bronfman Sweetens Paramount Bid To $6 Billion

Veteran media executive Edgar Bronfman Jr sweetened his offer to $6 billion for National Amusements and a minority stake in Paramount Global , people familiar with the matter told the Wall Street Journal on Wednesday.

Bronfman raises bid for National Amusements, Paramount stake to $6 bln, WSJ reports

Edgar Bronfman Jr. has sweetened his offer for Shari Redstone's media empire, a move that could scuttle her deal to sell to David Ellison's Skydance Media.

Edgar Bronfman Raises Offer for National Amusements, Paramount Stake to $6 Billion

Veteran media executive Edgar Bronfman Jr. has submitted a roughly $4.3 billion bid to take over Paramount Global through the acquisition of National Amusements, the family holding company that owns a controlling stake in the media company, a person familiar with the matter told Reuters.

Paramount gets a rival bid from Edgar Bronfman for roughly $4.3 billion

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 turned crypto king Brock Pierce, and Nurali Aliyev, a Kazakh businessman and grandson of the former president of Kazakhstan.

Edgar Bronfman Backers, More Details Of Bid For Paramount That Seeks To Unseat Skydance

Veteran media executive's bid would scupper Hollywood media empire's planned merger with Skydance Media

News for Paramount Global Stock (PARAA)