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Founded by Martin Goodman in 1939, the company now known as Marvel Comics started off as Timely Comics, then evolved into Atlas Comics before finally being renamed Marvel. Goodman left Marvel in 1972 and founded a separate company called Atlas Comics, a.k.a. Atlas/Seaboard Comics. That Atlas Comics is now in the hands of Steven Paul, and Deadline reports that Paul has secured a deal with Paramount Pictures to bring a live-action adaptation of the Atlas property Devilina to the screen, the hope being that Devilina will launch an Atlas Comics cinematic universe at the studio. Paramount seems like a good place to get this cinematic universe plan rolling at, since they released the first four films in the Marvel Cinematic Universe, before distribution of those projects moved over to Disney.

Devilina follows a sheltered young woman who journeys to New York in search of her past, only to discover...

Edgar Bronfman Jr. and his backers have withdrawn a $6bn bid for Paramount Global bid, appearing to pave the way for Skydance Media to proceed with its merger proposal.

Bronfman Jr. was a late arrival to the sale process and submitted the bid to acquire Paramount Global and its storied Paramount Pictures studio last week, days before the expiry of the “go-shop” window, in which the media conglomerate was able to consider “superior” offers.

“Tonight, our bidding group informed the special committee that we will be exiting the go-shop process,” Bronfman Jr., the executive chairman of sports streaming platform Fubo...

Edgar Bronfman Jr. has abruptly dropped his eleventh-hour bid for Paramount Global. The decision came as the clock ticked down on the time frame within which his group had to finalize a firm offer that could be a viable alternative to Skydance Media’s pending takeover agreement.

Late Monday, Paramount Global’s special committee handling its long M&a process issued a statement closing the door on the company’s “go-shop” period and expressing its intent to move forward with the Skydance Media deal. The committee noted in a statement that “contacted more than 50 third parties” to see if there was interest in bidding for the storied owner of Paramount Pictures, CBS, MTV, Nickelodeon, BET, VH1, Comedy Central and more.

“On behalf of the Special Committee we thank Mr. Bronfman and his investor group for their interest and efforts,” said Charles E. Phillips, Jr., Chair of Paramount Global’s special committee.

Exclusive: Steven Paul’s Atlas Comics is developing a live-action version of Devilina for Paramount Pictures. Black List writer Rebecca Webb is penning the script. Paul is producing, alongside Scott Karol, President of Sp Media Group, and Jason Goodman – grandson of Marvel founder Martin Goodman – are executive producing. Conor O’Farrell, director of development at Sp Media Group, is working on the project.

Created by Atlas Comics Editor-In-Chief Jeff Rovin, Devilina follows a sheltered young woman who journeys to New York in search of her past, only to discover she is the sister of Satan, and her twin brother has been manipulating her while a detective investigates a series of murders linked to her.

Webb’s original revenge-comedy Divorce Party debuted at #3 on the Black List in 2021 with Cate Blanchett’s Dirty Films producing.

First published in 1975, the Devilina comic unveiled a host of characters that would ultimately shape the interconnected Atlas universe,...

Paramount Global’s special committee is taking a long look at a revised $6bn offer for the media conglomerate by industry veteran Edgar Bronfman Jr. and has extended the “go-shop” window by 15 days to September 5.

The committee always had the option to extend the deadline, which was due to expire tonight. This is an indication it views Bronfman Jr.’s 11th-hour offer seriously enough to press pause on the previously agreed merger with David Ellison’s Skydance Media.

According to reports Bronfman Jr. has increased the offer by $1.7bn from the original $4.3bn proposed.

It is understood the additional sum...

Paramount Global’s special committee is taking a long look at a revised $6bn offer for the media conglomerate by industry veteran Edgar Bronfman Jr. and has extended the “go-shop” window by 15 days to September 5.

The committee always had the option to extend the deadline, which was due to expire tonight. This is an indication it views Bronfman Jr.’s 11th-hour offer seriously enough to press pause on the previously agreed merger with David Ellison’s Skydance Media.

According to reports Bronfman Jr. has increased the offer by $1.7bn from the original $4.3bn proposed.

It is understood the additional sum...

Paramount’s special committee has considered the competing bid from Edgar Bronfman Jr. to buy National Amusements and take control of Paramount, and it’s at least curious at what it sees.

Paramount’s special committee announced it has extended the “go-shop period” in which other interested bidders could try and match or beat to the deal agreed to with David Ellison’s Skydance. The committee had the responsibility to consider anything that “is or would reasonably be expected to lead to a superior proposal” compared to what Skydance put on the table. It means the committee is now seriously considering the competing offer and will keep this M&a saga rolling a little longer.

After Paramount agreed to a deal with David Ellison’s Skydance, the company opened a 45-day window in which others could match. Late on Monday, Bronfman formally submitted a $4.3 billion bid, saying that his offer is...

Paramount Global’s board has extended the go-shop window under its Skydance Media deal for 15 days as it engages with an investor group led by Edgar Bronfman Jr., which on Wednesday proffered $6 billion to take control of the media conglomerate — up from $4.3 billion previously.

Bronfman and his backers on Wednesday made the higher bid to acquire National Amusements Inc., Paramount’s controlling shareholder, and added a deal sweetener — offering a pool of $1.7 billion to give Paramount nonvoting shareholders a $16/share buyout premium for a portion of their stock, sources confirmed to Variety. The Bronfman-led group originally offered $4.3 billion and had not offered to acquire any of Paramount Global’s nonvoting stock. The move puts on hold, for now, the deal with David Ellison’s Skydance Media that would see Skydance merge with Paramount.

In an announcement Wednesday, the Paramount board’s special committee confirmed the “receipt of an acquisition proposal from Edgar Bronfman, Jr.,...

We were this close to being done with Paramount M&a drama. Not so fast.

Just ahead of the deadline for Paramount’s 45-day “go-shop period,” in which the company could entertain offers from anyone not named David Ellison, Edgar Bronfman Jr. formally submitted his own bid for Paramount Global, the Wall Street Journal reported. At a glance, Bronfman’s bid is very similar to what the Skydance CEO offered Shari Redstone, who in turn accepted. There is one major difference however, and it could make the Seagram’s heir a real champion of the common man — or at least the common stockholder.

Paramount’s special committee is tasked with determining if Bronfman’s offer “is or would reasonably be expected to lead to a superior proposal” than its bird in the hand. The committee can now extend the shopping window by 15 days, and Ellison still has the chance to...

Media veteran Edgar Bronfman Jr. has reportedly made an 11th-hour $4.3bn bid for Paramount Global, rivalling the previous offer from Skydance Media and RedBird Capital.

With one day to go before the official August 21 close of the “go-shop” window allowing Paramount Global’s special committee to consider “superior” bids, Bronfman Jr. is understood to have offered $2.4bn for Shari Redstone’s National Amusements, owner of a controlling interest in Paramount Global.

The proposal includes a $1.5bn balance sheet injection and a $400m payment to cover a termination fee Paramount Global would pay Skydance Media were it not to consummate the...

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 Brock Pierce and Nurali Aliyev, a Kazakh businessman and grandson of the former president of Kazakhstan. UK investment firm BC Partners and Fortress Investment Group are other names in the mix, Deadline has learned.

Pierce, who starred in The Mighty Ducks, is a big cryptocurrency player and founder of Tether whose legal woes have made headlines recently amid a barrage of lawsuits involving a former crypto lender and a failed hotel project in Puerto Rico.

Bronfman stepped in last night with an offer worth $4.3 billion, looking to disrupt a merger agreement between Skydance and Paramount announced July 7 that was set to be sealed at 11:59 p.m. Et on August 21 if no “superior” proposal arrived before then.

Bronfman’s letter to Charles Phillips,...

The book isn’t closed yet on Paramount Global’s months-long M&a epic.

On Monday (Aug. 19), billionaire media mogul Edgar Bronfman Jr. submitted an offer valued at $4.3 billion to acquire Shari Redstone’s National Amusements Inc., which is the controlling shareholder of Paramount Global, Variety has confirmed.

Bronfman’s bid is an attempt to rival the offer from David Ellison’s Skydance Media and its financial backers, which last month clinched a binding agreement worth more than $8 billion for Nai and Paramount Global, whose properties include CBS, Paramount Pictures, Showtime/MTV Entertainment Studios and Paramount Media Networks.

Bronfman’s bid was submitted to the special committee established by Paramount Global’s board to evaluate M&a offers, which is expected to review it on Wednesday. Reps for Nai, Bronfman, Skydance and the Paramount board’s special committee declined to comment.

Bronfman’s bid for Nai was first reported by the Wall Street Journal.

The front of the Paramount Pictures studios in Los Angeles, California. (Stock image by Hannah Wernecke via Unsplash)

After weeks of speculation, media executive Edgar Bronfman, Jr. has made his play for Paramount Global.

On Monday, the Wall Street Journal said the former Warner Music chairman formally submitted a $4.3 billion offer to buy out National Amusement, the majority shareholder of Paramount’s common stock, as well as a minority share of Paramount itself.

The offer includes a $1.75 billion payment to National Amusements and a separate $1.5 billion investment in Paramount, the Journal said. Both essentially match the bid made by Skydance Media to buy out National Amusements and merge its operations with Paramount.

Bronfman’s offer also includes a $400 million break-up fee that would be owed to Skydance if National Amusements and Paramount accept his offer over theirs, the Journal said. The media executive teamed up with movie producer Steven Paul...

How do you get The Roku Channel to compete with the likes of Pluto TV? Maybe you buy Pluto TV. And Paramount+. Hell, buy the whole company while you’re at it.

The Wall Street Journal on Thursday reported that Seagram’s heir Edgar Bronfman Jr., the chairman of Fubo, has not yet given up on acquiring control of Paramount Global. And he’s recruiting: In his ragtag group are Fortress Investment Group, “Baby Geniuses” producer Steven Paul, and Roku, the number 1 manufacturer of streaming devices.

Wait, Roku — where did you come from?

A combination could make some sense here. For starters, Paramount+ is available on Roku platforms already. And they’re probably already hanging out at the Walton Family Christmas parties: Both Paramount and Roku have deals with Walmart. Ad-supported Paramount+ is included with a Walmart+ membership, while Roku is the operating system in Walmart’s own branded TVs.

As the August 21 deadline looms for other parties to make a run at Paramount (or forever hold their peace), the Wall Street Journal reports that Edgar Bronfman Jr. has not exited the Paramount scene but is in talks with investors and preparing a bid.

The stock, which frequently jumps about on news like this, is up nearly 8%.

Other potential acquirers like Barry Diller’s Iac have dropped by the wayside given the size and complexity of the business combination, which seemed to leave the path clear for Skydance. David Ellison’s company backed by Oracle co-founder Larry Ellison and Gerry Cardinale’s Redbird Capital, announced the circa $8 billion, multi-step transaction in July but with a so-called “go-shop” period of 45 days for Par to field other offers. The window is set to close next Wednesday at 11:59 pm Et.

The WSJ says that Bronfman, heir to the Seagram family fortune and...

The Paramount Pictures lot in Southern California. (Photo by Patrick Pelster

via Wikimedia Commons)

Former Warner Music Chairman Edgar Bronfman, Jr. is reportedly still interested in making a play for Paramount Global, and he is working to win over some big names to help back his bid.

On Thursday, the Wall Street Journal said Bronfman has held discussions with Fortress Investment Group, streaming hardware maker Roku and Hollywood producer Steven Paul about financially backing an offer to take control of National Amusements, the largest shareholder of Paramount’s stock.

A takeover of National Amusements would essentially give Bronfman control of Paramount itself. It wasn’t clear from the Journal’s reporting if Bronfman intended to press forward with a complex merger-and-acquisition scheme in order to own Paramount outright, similar to the deal the company currently has with Skydance Media, which also involves a buyout of National Amusements.

The deal between...

Iac chairman Barry Diller signaled on Friday that he’s calling it quits on the company’s pursuit of Paramount Global.

Earlier this month, Iac signed nondisclosure agreements with National Amusements to explore a possible bid, an individual previously confirmed to TheWrap.

But the Ellison family and RedBird Capital Partners ultimately reached a two-step, $8 billion deal with Paramount’s controlling shareholder Shari Redstone that would see the former acquire her holding company National Amusements before merging David Ellison’s Skydance Media with Paramount Global. Approximately $6 billion of that total financing is coming from David’s father and Oracle co-founder, Larry Ellison.

“It’s hard to predict, but I think it is over,” Diller told CNBC in an interview on Friday. “It is unwise to get in an auction with someone who has a pretty much unlimited balance sheet.”

Under the terms of the agreement, which is expected to close in...

Barry Diller has confirmed he is out of the running for Paramount Global.

His company, Iac, had been exploring a bid during the 45-day “go-shop” period provided for in the merger deal announced this month by Skydance Media and Paramount’s controlling shareholder, National Amusements. During an interview in Paris with CNBC before the opening of the Summer Olympics, Diller expressed misgivings about having to step away, but said it came down to financial prudence. (Watch the clip below.)

“It’s hard to predict, but I think it is over,” he said. “It is unwise to get in an auction with someone who has a pretty much unlimited balance sheet.”

Of the $8 billion transaction, Diller estimated that Larry Ellison, the Oracle billionaire and father of Skydance CEO David Ellison, is contributing, “I think, $6.2” billion.

“They’ve stolen the company, essentially – ‘stolen’ is a harsh word,” Diller said. “But the method...

A consortium led by David Ellison’s Skydance is nearing the finish line on its new deal to acquire Paramount Global.

According to sources, Paramount’s special committee has signed off on the refreshed deal from Skydance, RedBird Capital and other investors.

A month ago, of course, Skydance was close to sealing the deal, but Shari Redstone — who controls Paramount through her family’s National Amusements holding company — nixed the agreement at the last moment before the special committee voted on the deal.

With approval of the committee, the deal is likely to move forward (the full board still needs to sign off, one source says, and Redstone could always back away once more). But there is a catch this time around. Unlike the last agreement, a source says that the deal includes a “go-shop” provision, which would allow Nai or Paramount a set period to see if a better offer emerges.

The will they, won’t they saga of Paramount and Skydance has taken yet another twist this week, but will it be the last?

David Ellison may be about to find out that persistence pays off. The CEO of Skydance Media has been chasing a deal to acquire Paramount Global and merge it with his own studio for months in a twist-filled saga that has had stops and starts aplenty. According to The Wall Street Journal, proceedings have started up again; in fact, Skydance has reportedly reached a preliminary agreement with Shari Redstone to buy National Amusements Inc., the holding company that controls 77% of Paramount’s voting stock.

Key Details: Ellison would pay $1.75 billion for National Amusements, and provide greater protection against potential shareholder lawsuits. Redstone called off deal talks with Skydance just before the deal was set to be voted on by Paramount’s board in June. A deal...

Skydance Media and National Amusements have tentatively agreed a new deal for the takeover of Paramount Global, according to several media reports, just a few weeks after the companies’ initial deal dramatically collapsed.

Reporting on the surprise development on Tuesday (July 2) the Wall Street Journal said Skydance has reached a “preliminary agreement” to buy Shari Redstone’s National Amusements and merge with Paramount, which is majority owned by National Amusements.

The new deal will be referred to a special committee of Paramount directors for review, the Journal added, and Skydance and National Amusements have agreed to a 45-day period during...

„Stunning“ nennen es US-Medien. Und treffen damit den Nagel auf den Kopf. Denn das Gerangel um die Zukunft von Paramount nimmt erneut eine überraschende Wende.

Das Ringen um die Zukunft von Paramount geht weiter (Credit: Imago/Pond5 Images)

Rund drei Wochen ist es her, dass man einen Deal zischen Shari Redstone und Skydance als ausgemachte Sache betrachte, bis Redstone die Verhandlungen in letzter Minute abbrach. Zwischenzeitlich wurde verkündet, dass der Versuch, Teile von Paramount (konkret soll es wohl um BET gehen) zu verkaufen, vorangetrieben werde. Und mit Barry Diller hatte sich der nächste Interessent in eine wachsende Reihe an Interessenten eingereiht.

Jetzt also wieder Skydance. Während das Wall Street Journal berichtete, dass die Gespräche wieder aufgenommen würden, schreibt der US-Branchendienst Deadline unter Berufung auf Insider, dass sich Redstone und die von David Ellison geführte Skydance bereits auf neue Rahmenbedingungen für einen Merger-Deal geeinigt hätten. Diese würden nun von einem Sonderkomitee geprüft.

Paramount and Skydance will merge after all.

In a huge twist just before the July 4 holiday, David Ellison’s Skydance Media has reached a tentative agreement with Shari Redstone to buy the holding company National Amusements and in turn merge Paramount Global with Skydance, IndieWire has learned, and according to reports in The Wall Street Journal and The New York Times. The deal has now been referred to a special committee appointed by Paramount’s board to review and approve the deal.

It wasn’t more than a couple weeks ago that talks between Redstone and Skydance fell apart at the finish line. Skydance sounded like it had moved on. Just yesterday, a new bidder emerged, billionaire Barry Diller. The craziest saga in M&a corporate Hollywood news keeps getting crazier.

According to WSJ, Skydance would pay $1.75 billion to buy National Amusements (Nai) after IndieWire previously reported Skydance was set to...

In a stunning reversal, David Ellison’s Skydance Media and Paramount Global controlling shareholder Shari Redstone have returned to the M&a altar.

The companies have reached terms on a revised merger agreement for Redstone’s National Amusements Inc. just three weeks after Redstone abruptly pulled out of a planned combination, multiple people familiar with the talks told Deadline. Nai controls almost 80% of voting shares in Paramount.

A special committee of Paramount’s board of directors, which was formed to evaluate strategic options for the troubled media company, is currently reviewing the updated deal terms, according to sources. The Wall Street Journal earlier Tuesday reported on the revived discussions.

Reps from Paramount, Skydance and Nai declined comment.

The proposal currently being considered would see Skydance pay $1.75 billion for Nai. That’s less than what the parties had previously agreed to for the first step in a two-step transaction bringing Nai under...

It’s back to the negotiating table.

Shari Redstone’s National Amusements (Nai) and David Ellison’s Skydance Media are reengaging on talks that could lead to a change in ownership for Paramount Global, a source confirms to The Hollywood Reporter. The next step is for the potential agreement to go to Paramount’s special committee of the board of directors. A Nai rep declined to comment.

The move marks the latest twist in a corporate soap opera that saw Redstone walk away from a deal in June that would’ve effectively merged the owner of CBS, Showtime, Paramount Pictures and Nickelodeon with the multimedia production company that has co-financed Top Gun: Maverick and Mission: Impossible franchise entries. The New York Times first reported on Tuesday that talks have restarted.

Skydance, along with investment firms RedBird Capital and Kkr, had on the table an agreement in which that group would...

Diller’s conglomerate Iac has signed non-disclosure agreements with National Amusements, but no deal is imminent yet.

Just when you thought the talks of Paramount being acquired might die down, a new suitor has emerged. According to a report from the New York Times, former Paramount Pictures head Barry Diller has entered into formal discussions with National Amusements Inc., the holding company owned by Shari Redstone which controls a majority of Paramount Global’s voting stock about an acquisition. It’s the latest turn in the Paramount saga, even as the company continues making plans for its future if no one steps up to the plate to buy it.

Key Details: Diller tried to buy Paramount in the 1990s, but was outbid by Shari Redstone’s father Sumner. National Amusements and Diller’s Iac have signed non-disclosure agreements. Paramount is actively seeking joint venture opportunities for its streaming service Paramount+. 7-Day Free Trial $5.99+ / month ParamountPlus.

Der ehemalige CEO und Chairman von Paramount Pictures soll einem Bericht der „New York Times“ zufolge mit seinem Medienunternehmen Iac Interesse bekundet haben, Paramount Global zu übernehmen.

Barry Diller hat offenbar Interesse an einer Übernahme von Paramount Global bekundet (Credit: Imago / Avalon.red)

Nachdem Shari Redstone die Gespräche mit dem bis dato aussichtsreichen Kandidaten für eine Übernahme ihrer National Amusements, mit 80 Prozent der stimmberechtigten Anteile Mehrheitseigentümerin von Paramount Global, David Ellisons Skydance, Mitte Juni beendet hatte, hatte das Führungstrio von Paramount zwei Wochen später im Rahmen einer Townhall erklärt, dass der Verkauf von Teilen des Konzerns weiter fest geplant sei.

Wie die „New York Times“ berichtet, hat nun Barry Diller, ehemaliger CEO und Chairman von Paramount Pictures, mit seinem digitalen Medienunternehmen Interesse bekundet, die Anteile von National Amusements an Paramount Global zu übernehmen, was beide Parteien aber nicht kommentieren wollten.

Bereits Anfang der 1990er Jahre hatte der Multimilliardär Diller versucht gehabt,...

Media mogul Barry Diller, who headed Paramount Pictures for a decade 40 years ago, is considering a bid for Paramount Global, according to a report in the New York Times.

Citing four individuals “with knowledge of the matter,” the Times said on Monday (July 1) that Diller’s digital media company Iac has signed non-disclosure agreements with National Amusements, Paramount Global’s majority shareholder.

Paramount Global had no comment on the report. National Amusements did not respond immediately to a request for comment and Iac said it “doesn’t comment on rumours or speculation.”

Diller was CEO of Paramount Pictures from 1974 to...

Media mogul Barry Diller, who headed Paramount Pictures for a decade 40 years ago, is considering a bid for Paramount Global, according to a report in the New York Times.

Citing four individuals “with knowledge of the matter,” the Times said on Monday (July 1) that Diller’s digital media company Iac has signed non-disclosure agreements with National Amusements, Paramount Global’s majority shareholder.

Paramount Global had no comment on the report. National Amusements did not respond immediately to a request for comment and Iac said it “doesn’t comment on rumours or speculation.”

Diller was CEO of Paramount Pictures from 1974 to...

Media mogul Barry Diller is exploring a bid for Paramount, The New York Times reports. The Hollywood potentate-turned-digital media pioneer’s Iac Corp. has inked nondisclosure deals with Shari Redstone’s National Amusements Inc., the company’s controlling stakeholder, the paper said.

The Times said the status of the Diller-Paramount talks is unclear. A Paramount rep declined to comment when contacted by Deadline. A rep for Nai did not immediately respond to a request for comment.

Diller, who became head of Paramount Pictures a half-century ago at just 32 and once was outbid for the company by Sumner Redstone, Shari’s father, is looking to take control of the company, which reportedly was close to a deal with David Ellison’s Skydance before those talks fell apart three weeks ago.

Related: Paramount Has Been On The Ropes Before; A Reminder How Creative Courage & A Suave Front Man Saved The Sinking Studio...

A new contender has emerged in the ongoing saga over who will take control of Paramount Global. And in true “Succession” fashion, the latest entrant is a familiar face chasing his white whale that got away.

Barry Diller, the billionaire media giant who once was CEO and chairman of Paramount Pictures during the film studio’s New Hollywood heyday, is reportedly exploring a bid to take control of Paramount Global, according to a report in The New York Times.

Diller’s Iac, according to the Times, has signed non-disclosure agreements with National Amusements (Nai), the company that holds a majority of Paramount stock. Diller and Iac reportedly started exploring talks at some point after Shari Redstone walked away from conversations with Skydance, right when they were at the finish line. It’s unclear how far along talks are or any specific details of the bid.

Iac told IndieWire it does...

Producer Steven Paul — who is said to be among suitors to take control of Paramount Global and has a deal to co-produce and finance films with the National Amusement-controlled company — has been found liable for copyright infringement in a lawsuit accusing him of manufacturing and distributing counterfeit DVDs of faith-based film I Believe, a jury has concluded.

A Riverside jury on Thursday ordered Paul and his affiliated distribution companies Echo Bridge Acquisition Corp and Sp Releasing to pay roughly $150,000 to independent production company, Harvest Aid, which brought the lawsuit.

In a statement, Echo Bridge vice president Matt Otto said the decision will be appealed. “Even though the amount is small and has no effect on our businesses, Echo Bridge is obviously disappointed in the result in this nuisance suit and we’re surprised at a jury decision contrary to the evidence,” he added. “We’ve never even been accused of...

Bei einer Townhall-Veranstaltung gab das CEO-Trio von Paramount Global ein Update zur Zukunft des Unternehmens. Demnach seien mittlerweile Bankberater angeheuert worden, um einen Verkauf von Teilen des Konzerns prüfen zu lassen. Während man zudem weiter nach Partnern für Paramount+ sucht, wurden die Angestellten erneut auf den angekündigten Sparkurs eingeschworen.

Das Ringen um die Zukunft von Paramount geht weiter (Credit: Imago/Pond5 Images)

Es war eine Veranstaltung, die ursprünglich schon vor drei Wochen hätte stattfinden sollen, die aber verschoben worden war, nachdem es damals noch so ausgesehen hatte, als könne Skydance mit seinem Übernahmeangebot erfolgreich sein.

Dies war letztlich nicht der Fall, aktuell ist die Zukunft des Konzerns wieder offen – nun erfolgte im Rahmen einer Townhall-Veranstaltung auf dem Studiogelände ein Update durch das CEO-Trio von Paramount Global um Brian Robbins, George Cheeks und Chris McCarthy. Shari Redstone, die den Großteil der stimmberechtigten Anteile hält und die – durchaus überraschend – den Skydance-Deal unmittelbar...

The co-CEOs of Paramount Global presented their plan for the company’s future at a company town hall meeting on Tuesday (June 25), reporting that bankers have already been hired to explore asset sales and talks about partnerships in international streaming are advancing.

Speaking to employees two weeks after Paramount’s merger with Skydance Media broke down, co-ceo Brian Robbins acknowledged, according to sources, “what a difficult and disruptive period it has been. And while we cannot say that the noise will disappear, we are here today to lay out a go-forward plan that can set us up for success no...

Paramount Global’s trio of co-CEOs provided an update Tuesday at a town hall for the company’s more than 20,000 employees on where things stand with their plan to cut costs, boost revenue and pare down debt after a potential merger with Skydance was called off.

The three execs — George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon — were installed as co-CEOs after Bob Bakish’s dismissal in late April.

At the June 25 town hall, which kicked off at 10 a.m. Pacific at the Paramount Theatre on the studio’s lot in L.A., the execs addressed a key topic of concern among the rank and file: layoffs and other measures aimed at achieving $500 million in annualized costs, which the trio laid out at the June 4 annual shareholder meeting.

It was probably fortunate for Paramount Global shareholders that Wall Street had Juneteenth off. The rumor mill did not take a holiday.

How close were Shari Redstone and David Ellison to striking a deal for Nai, in turn striking a deal to merge Paramount with Skydance? Exactly two minutes away (from the consummation meeting), according to Variety. That’s when an email from the Redstone camp to the Ellison camp landed, saying Nai would not be moving forward with the deal.

The email was not exactly well-received. The lawyers scrambled, the expletives flew, and Paramount Global’s stock price (Para) sunk to its lowest point in five years.

What happened? Ellison had already taken out $8 billion at the Atm.

After months of negotiations, including one month of exclusivity in those negotiations, Redstone bailed on a deal that would have sold her family’s National Amusements, Inc. movie-theater chain to the...

Paramount Global and its predecessor companies have gone through several tumultuous decades. Here’s a timeline of key events that led up to the company’s most recent M&a drama, in this week’s cover story: What Went Wrong: Inside Paramount’s Failed Merger Talks and the Battle to Salvage the Company.

March 4, 1987: Sumner Redstone’s National Amusements Inc. acquires Viacom for $3.4 billion

March 11, 1994: Viacom acquires control of Paramount Communications for about $10 billion

Sept. 7, 1999: Viacom announces deal to acquire CBS Corp. for $35 billion

March 16, 2005: Sumner Redstone shocks Hollywood and Wall Street with plan to split Viacom and CBS Corp. into separate entities

Dec. 31, 2005: Viacom and CBS Corp. split is completed. Tom Freston named CEO of Viacom; Leslie Moonves to lead CBS

Sept. 5, 2006: Sumner Redstone fires Tom Freston as CEO of Viacom, naming Philippe Dauman as his successor

Oct. 16, 2014: CBS Corp. launches...

Paramount’s stock fell below $10 per share on Monday, marking a record low for the struggling media conglomerate with its lowest price since Viacom and CBS merged in 2019.

Shares hit a 52-week low of $9.81 per share, well off its 52-week high of $17.50 per share on Dec. 11. The stock finished the day’s trading session at $9.83.

The company, currently at a market capitalization of $6.86 billion with long-term debt of $14.6 billion, has seen its stock price fall 80.5% in the past five years, 37% in the past year, 31% year to date, 36% in the past six months and 18% in the past month.

The latest decline comes after controlling shareholder Shari Redstone scrapped merger talks with David Ellison’s Skydance Media last week. The two-step plan would’ve seen Ellison acquire Redstone’s National Amusements, which controls 77% of Paramount’s voting stock, before merging Skydance with the studio to create a combined company.

In addition to Skydance,...

Share of Paramount Global hit a milestone today, and not a good one.

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.

Shares of the combined company have have bounced around, starting at about $35 at the merger (ViacomCBS was subsequently renamed Paramount Global). They were briefly around $10 in the depths of Covid, but were pushing $90 a year later, before a slow decline. It’s the media industry — the streaming wars, linear woes — but also some self-inflicted wounds. Paramount had a chance at different times to sell both Showtime and BET for a nice cash infusion. The shares were above $16 at the height of merger speculation last fall.

After discussing a potential transaction for months, Paramount...

Call it trial by fire: Skydance said it is “stronger” for having gone through the Paramount fiasco, Skydance CEO David Ellison wrote in a note to his employees (obtained by IndieWire). But is Paramount?

What say you, three Paramount Global CEOs?

“As we look ahead, we are confident about what’s in store for Paramount,” reads a studio memo released Wednesday to staff (also obtained by IndieWire). “We believe in you and we believe in Paramount.”

This vote of confidence comes after Shari Redstone said “I’m out” at the last minute, most likely fearing a lawsuit should any unhappy minority shareholders sue to block the deal.

Shareholders may not have liked it, but a Paramount-Skydance merger was potentially the best option for the industry as a whole. Small-scale consolidation should mean small job losses — especially considering Paramount has already laid off hundreds in anticipation. Had Paramount Global gone to...

Paramount Global co-CEOs George Cheeks, Brian Robbins and Chris McCarthy thanked staff in a memo today, obtained by Deadline, for tough months rocked by Skydance merger speculation. With that deal a no go, they said, they have plan, one mostly laid out at last week’s annual shareholders meeting, to take the company into the future.

While deals are not off the table, the focus of the recently installed executive trio will be to streamline the company, optimize streaming and look to sell off non-core assets. It’s thought likely Par will consider a sale of BET. It put the asset on the block last year but didn’t like the offers it got so yanked it off. Paramount+ is likely to partner with another streamer. The Office of the CEO, which replaced Bob Bakish in May, will also look to cut non-content costs.

The pep talk comes after Paramount...

The Paramount drama will continue to drag on now that Redstone has ended discussions with Skydance CEO David Ellison.

After months of negotiations, several stops and starts, and what looked like encouraging signs that a deal was close, the possibility that Paramount Global will merge with Skydance Media is officially over. Talks broke down early this week, and on Tuesday Paramount’s controlling shareholder Shari Redstone said via a statement from her holding company National Amusements Inc. (Nai) that the two sides had “not been able to reach mutually acceptable terms” for a merger. So what else is on the table for Paramount at the moment, and what does the company’s future look like after its most promising deal prospect is now officially dead?

Key Details: The Skydance deal had been the apple of Redstone’s eye for months before it dissolved. Sony and Apollo are still rethinking the...

Lange hatte David Ellisons Skydance als aussichtsreichster Kandidat für eine Übernahme von Paramount Global gegolten. Doch jetzt hat Shari Redstone, deren National Amusements die Aktienmehrheit an Paramount hält, die Verhandlungen mit Skydance beendet.

Shari Redstone hat die Gespräche mit Skydance über eine Übernahme von Paramount Global beendet (Credit: Imago / Avalon.red)

Vor einer Woche wurde noch gemunkelt, der Deal zwischen Shari Redstones National Amusements, die rund 80 Prozent der stimmberechtigen Aktien an Paramount Global hält, und David Ellisons Skydance über die Übernahme von Paramount Global sei unter Dach und Fach, nun hat Redstone die Verhandlungen für beendet erklärt.

Aus einer Stellungnahme des Unternehmens zitieren US-Medien: „National Amusements, Inc. der stimmberechtigte Mehrheitsaktionär von Paramount Global, gab heute bekannt, dass sie nicht in der Lage waren, für beide Seiten annehmbare Bedingungen bezüglich der möglichen Transaktion mit Skydance Media für den Erwerb einer Mehrheitsbeteiligung an Nai zu erreichen. Nai ist Skydance für die monatelange...

This just in tonight from Skydance Boss David Ellison as Paramount Global controlling shareholder Shari Redstone says “No” to Skydance’s offer to buy National Amusements. The Top Gun: Maverick and Geostorm producer has acknowledged to staff that Skydance’s bid to merge with Paramount has ended.

However, “we are stronger because of this process,” says the son of Oracle cofounder Larry Ellison.

David promises staff that Skydance, armed with more TV products in the company’s history, is “more confident than ever—not just about Skydance but about the future of entertainment and our ability to continue building a next-generation content company on our terms, with the greatest capital, creative and technological resources and talent in the industry.”

As Jill and I told you today, there are various reasons why this Skydance-Paramount Global merger didn’t shake out, read seeking consent for the deal from a “majority of the...

When David Ellison’s Skydance made a play for Paramount last fall it was how and when (not if) Shari Redstone would tie the knot. Paramount and Skydance worked together. He valued the studio and its crown jewel of a backlot and planned to keep the company together. He was offering her a nice bundle of cash for her stake in National Amusements.

They talked, and talked, and talked. Potential suitor Warner Bros Discovery faded away, as did Byron Allen, who made an actual offer for the company. Par and Skydance entered an exclusive negotiating period for the month of April. When the lock-up ended with no deal, doubt crept in. Sony jumped into the mix. Yet the two sides continued talking intensely up through this past weekend.

But Redstone, whose family holding Nai controls about 80% of Paramount, always had the last word, and the last word was no. She...

Shari Redstone, whose National Amusements owns a majority stake in Paramount Global, has called off long-running merger talks with David Ellison’s Skydance Media.

The decision comes as Paramount Global’s special committee was understood to be meeting on Tuesday morning before National Amusements lawyers notified them the deal was off.

A spokesperson for National Amusements told press it was unable to reach “mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai”.

They added, “Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing,...

No more Paramount-Skydance. In a shocking twist, National Amusements (Nai) is ending negotiations over an acquisition with Skydance, even though it looked like a done deal and was previously reported David Ellison’s company was set to pay $8 billion to gain control of Paramount.

Nai announced June 11 “they have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”

“Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,” it said in a statement. “Nai supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.

After months of negotiations, Paramount Global’s controlling shareholder Shari Redstone has broken off merger talks with David Ellison’s Skydance.

National Amusements has “not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai,” said the Redstone family trust that controls Paramount.

“Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance.

“Nai supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.”

The two sides have been deep in discussions during and after a one-month exclusive negotiating period in April and Redstone at one point had favored the deal,...

After more than six months of on-again-off-again talks, Shari Redstone has ended negotiations with David Ellison’s Skydance Media about a prospective merger with Paramount Global.

The news shocked the entertainment industry as there had been many signals this week that the sides were moving closer to a transaction. Redstone is Paramount Global’s controlling shareholder through National Amusements Inc., which owns 77% of the voting shares in Paramount. Paramount Global shares plummeted 7.9% in the final half-hour of trading Tuesday after the news of the Skydance talks ending broke, closing at $11.04 per share.

In a statement, Redstone’s Nai said, “National Amusements, Inc., the majority voting shareholder of Paramount Global, today announced that they have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”

The statement continued, “Nai is grateful to Skydance for their months of...

Der Medienunternehmer, Filmproduzent und ehemalige CEO der Warner Music Group will den Mehrheitseigentümer von Paramount Global, Shari Redstones National Amusements, übernehmen. Redstone selbst bevorzugt aber nach wie vor einen Deal mit Skydance.

Edgar Bronfman jr. hat Interesse an Paramount Global (Credit: Imago / Everett Collection)

Mit Unterstützung der Private-Equity-Firma Bain Capital hat Edgar Bronfman jr. die Fühler nach Paramount Global ausgestreckt. Wie US-Medien berichten, will der Medienunternehmer, Filmproduzent und ehemalige CEO der Warner Music Group Shari Redstones National Amusements übernehmen, die rund 80 Prozent der stimmberechtigten Aktien an Paramount hält. Dem Vernehmen nach soll das Angebot bei 2,5 Mrd. Dollar liegen.

Etwas weniger, rund 2,25 Mrd. Dollar, bietet Skydance für National Amusements. Dennoch ist dieses Angebot offenbar Redstones Favorit; am Wochenende hatten intensivere Gespräche mit Skydance-Gründer und -CEO David Ellison stattgefunden. Laut dem Anfang Juni vorgelegten Angebot sollen Skydance und Paramount Global nach der Übernahme von National Amusements in einem zweiten Schritt miteinander verschmolzen werden.