The news comes on the heels of collapsed merger talks earlier this month between media heiress Shari Redstone, Paramount's controlling shareholder, and Skydance Media, a producer of the "Mission: Impossible" franchise. Paramount Global's co-CEOs Chris McCarthy (from left) George Cheeks and Brian Robbins pose with Shari Redstone. WireImage The co-CEOs did not provide numbers on the looming layoffs and told an attendee they were not prepared to give a timeline for job cuts during the Q&A session, according to ...

Paramount Global is pushing ahead with asset sales and bankers are in the house as it sets out to streamline and raise cash to pay down debt. Its three co-CEOs confirmed as much today at a Town Hall with staff. Paramount is not in the real estate business, and a sale could bring in $2 billion. As ViacomCBS, it sold the historic CBS building in NYC known as Black Rock for $760 million to real estate investment firm Harbor Group International in 2021. Later the same year, it sold the iconic CBS Studio Center ...

The trio echoed what they mentioned earlier at the annual shareholders meeting that a plan is underway to find a strategic partner for Paramount+, especially as they try to make-up for linear declines at the company. In regards to accomplishments made since that announcement McCarthy specified that was in "International – we are advancing talks with potential partners that will significantly transform the scale and economics of the service making it profitable and driving long term value. This approach coul ...

A number of other streaming services have also raised prices over the last year, incorporated ad-supported tiers, and started to negotiate deals to bundle their services, as the industry works to grow subscribers and increase profitability. Paramount Global (PARA) shares rose Monday afternoon as the company announced plans to raise the prices of its Paramount+ streaming service as it navigates a variety of takeover and merger offers that have surrounded Paramount in recent months. Key Takeaways The price of ...

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More media companies have increased streaming prices as they look to make a profit on the cash-losing business. Paramount executives had said publicly on multiple occasions they see a lot of opportunities to increase the price of streaming services. The company said Monday it will raise the price of the Paramount+ with Showtime plan by $1 to $12.99 a month, and the price of its Paramount+ Essential option will increase by $2 to $7.99 a month for all new subscribers. — Disclosure: Comcast is the parent compa ...

Group 1 - Paramount Global's General Counsel Christa D'Alimonte will exit the company at the end of the month after a 25-year association with Viacom and nearly 12 years as an employee [4][8] - The company plans to implement $500 million in cost savings and streamline staff, as indicated by the Office of the CEO members George Cheeks, Chris McCarthy, and Brian Robbins [2] - Caryn Groce, a 14-year veteran and D'Alimonte's deputy, will take over her duties as acting General Counsel, ensuring a seamless transition [7] Group 2 - Paramount Global has been in the news recently, particularly after its controlling shareholder, Shari Redstone, terminated merger talks with Skydance Media just before a deal was finalized [5] - D'Alimonte highlighted the importance of the legal department in the company's operations, stating that their work is crucial to various aspects of the business, including content development and employee safety [8] - In 2023, D'Alimonte was the third-highest-paid member of the management team, earning nearly $5.8 million from her base pay, stock award, and bonus [7]

GERMANY - 2024/04/02: In this photo illustration, a Paramount Pictures Corporation logo seen ... [+] displayed on a tablet. (Photo Illustration by Igor Golovnov/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Looking at a slightly longer period, PARA stock has suffered a massive decline, falling from $35 in early January 2021 to around $10 now, down about 70%. Returns for the stock were -19% in 2021, -44% in 2022, and -12% in 2023. The S&P 500, in comparison, rose by about ...

The stock price fell below $10 intraday, changing hands at $9.91 just now, down 2% from Friday. It's never dipped below ten bucks since Viacom and CBS merged in December of 2019, making this an all-time low after David Ellison's Skydance packed up and went home. After discussing a potential transaction for months, Paramount's controlling shareholder Shari Redstone backed away at the 11th hour last week, leaving the company her father built in a complicated position with high debt, significant exposure to de ...

David Ellison didn't do that. That makes sense on paper. Again, Cardinale and the Skydance people think Shari doesn't have a lot of good options — and she will be back with a weaker hand, my sources say. Maybe the biggest tell that traditional media is heading for the ICU isn't that after months of intense negotiations, Shari Redstone did something weird and refused to sell her fading empire to a company known as Skydance. I know what you're saying: Aren't there other bidders for her "controlling stake" in ...