Updated with stock price. Shares of Paramount Global gave up some gains on Thursday after surging more than 15% yesterday as Skydance chief David Ellison secured pole position to clinch a majority stake of National Amusements.
Led by Shari Redstone, National Amusements operates a movie theater circuit and also controls more than three-quarters of Paramount’s voting shares. A report in Bloomberg just prior to market close said a tentative deal was reached between Ellison, a longtime business partner on film and TV projects with Paramount, and Redstone. There is no deal done. But as Deadline reported earlier today, the two sides are in an exclusive negotiating period. Such an arrangement is only entered into with a framework in place, in the hope of reaching a final agreement.
The two sides have established a 30-day exclusive negotiating window, Deadline has learned, a sign that things are moving forward more decisively after months of speculation.
Led by Shari Redstone, National Amusements operates a movie theater circuit and also controls more than three-quarters of Paramount’s voting shares. A report in Bloomberg just prior to market close said a tentative deal was reached between Ellison, a longtime business partner on film and TV projects with Paramount, and Redstone. There is no deal done. But as Deadline reported earlier today, the two sides are in an exclusive negotiating period. Such an arrangement is only entered into with a framework in place, in the hope of reaching a final agreement.
The two sides have established a 30-day exclusive negotiating window, Deadline has learned, a sign that things are moving forward more decisively after months of speculation.
- 4/3/2024
- by Jill Goldsmith and Dade Hayes
- Deadline Film + TV
Shares of Paramount Global popped in afternoon trade on a report that Apollo Global has made an $11 billion bid for the company’s film and TV studio. The private equity giant has been in and out of the mix of suitors, which also include David Ellison’s Skydance Media and Byron Allen.
The stock heading into market close is up over 11% at $12.48 in heavier than usual volume. That’s still half of where it was a year ago as the company battles streaming losses and high debt. It’s been a takeover target for months now without any deal.
The WSJ cited people familiar with the situation saying the board is reviewing the Apollo offer. Deadline has heard that Ellison has fielded a bid for the whole company but no details. There’s been speculation out there by some industry sources that Larry Ellison would never back a money-losing proposition such as Paramount.
The stock heading into market close is up over 11% at $12.48 in heavier than usual volume. That’s still half of where it was a year ago as the company battles streaming losses and high debt. It’s been a takeover target for months now without any deal.
The WSJ cited people familiar with the situation saying the board is reviewing the Apollo offer. Deadline has heard that Ellison has fielded a bid for the whole company but no details. There’s been speculation out there by some industry sources that Larry Ellison would never back a money-losing proposition such as Paramount.
- 3/20/2024
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
Paramount Global is on a watch by S&P Global for a possible credit rating downgrade over weaker cash flow concerns as the major studio pivots from linear TV to the streaming space.
“The margin and cash flows generated by Dtc [direct to consumer] streaming businesses, which are replacing the linear TV segment, will be lower in comparison due to greater required content spending, higher technology investments, and higher marketing and subscriber acquisition costs,” S&P ratings director Jawad Hussain said in a statement Friday.
Stock in Paramount Global, which is led by CEO Bob Bakish, slid by 53 cents, or 4.5 percent, to $11.18 on Friday during late-morning trading, with shares in the Hollywood studio last week taking another hit when Warren Buffett’s Berkshire Hathaway reported a one-third stake cut in the media conglomerate.
Last year, the studio’s credit rating was lowered from Bbb to Bbb-, and its debt is now under renewed scrutiny,...
“The margin and cash flows generated by Dtc [direct to consumer] streaming businesses, which are replacing the linear TV segment, will be lower in comparison due to greater required content spending, higher technology investments, and higher marketing and subscriber acquisition costs,” S&P ratings director Jawad Hussain said in a statement Friday.
Stock in Paramount Global, which is led by CEO Bob Bakish, slid by 53 cents, or 4.5 percent, to $11.18 on Friday during late-morning trading, with shares in the Hollywood studio last week taking another hit when Warren Buffett’s Berkshire Hathaway reported a one-third stake cut in the media conglomerate.
Last year, the studio’s credit rating was lowered from Bbb to Bbb-, and its debt is now under renewed scrutiny,...
- 2/23/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Stock in Paramount Global slid after Warren Buffett’s Berkshire Hathaway reported a one-third stake cut in the major studio.
Paramount Global shares fell by 36 cents, or nearly 3 percent, to trade at $12.83 on the Nasdaq Exchange at the market open on Thursday morning. That extended a late-day collapse in the studio’s stock Wednesday, falling by around 6 percent to $13.19 at one point in after-market trading.
Berkshire Hathaway in a securities filing late Wednesday said it had sold 30.4 million shares in Paramount Global, or around a third of its investment stake, during its fourth quarter to Dec. 31, 2023, according to a Bloomberg tally.
That stake sale coincided with market speculation that David Ellison’s Skydance Media and RedBird Capital were eying a potential takeover of Shari Redstone’s controlling stake in the conglomerate. Another media mogul, Byron Allen, also made a play for Paramount Global by revealing a $14.3 billion offer to buy...
Paramount Global shares fell by 36 cents, or nearly 3 percent, to trade at $12.83 on the Nasdaq Exchange at the market open on Thursday morning. That extended a late-day collapse in the studio’s stock Wednesday, falling by around 6 percent to $13.19 at one point in after-market trading.
Berkshire Hathaway in a securities filing late Wednesday said it had sold 30.4 million shares in Paramount Global, or around a third of its investment stake, during its fourth quarter to Dec. 31, 2023, according to a Bloomberg tally.
That stake sale coincided with market speculation that David Ellison’s Skydance Media and RedBird Capital were eying a potential takeover of Shari Redstone’s controlling stake in the conglomerate. Another media mogul, Byron Allen, also made a play for Paramount Global by revealing a $14.3 billion offer to buy...
- 2/15/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Exclusive: We are hearing that Apollo Global Management, which was mulling an offer for National Amusements, the Redstone family company that controls Paramount Global, is no longer considering the move.
Reps for Apollo Global Management, Paramount Global and National Amusements declined comment Monday.
While the situation remains fluid and it may be too early to count Apollo out of the process entirely, sources tell us that the private equity company co-founded by Marc Rowan, Josh Harris and Leon Black is skittish in the wake of the FCC blowing up hedge fund Standard General’s attempted $8.6 billion bid for the Tegna station group — a deal Apollo Global Management was set to provide funding toward. The deal was inked in 2022 and fell apart in May 2023.
Apollo is also an investor in Dune movie studio Legendary Entertainment.
“Capital is not the issue, approval is the commodity; very few people can get FCC approval,...
Reps for Apollo Global Management, Paramount Global and National Amusements declined comment Monday.
While the situation remains fluid and it may be too early to count Apollo out of the process entirely, sources tell us that the private equity company co-founded by Marc Rowan, Josh Harris and Leon Black is skittish in the wake of the FCC blowing up hedge fund Standard General’s attempted $8.6 billion bid for the Tegna station group — a deal Apollo Global Management was set to provide funding toward. The deal was inked in 2022 and fell apart in May 2023.
Apollo is also an investor in Dune movie studio Legendary Entertainment.
“Capital is not the issue, approval is the commodity; very few people can get FCC approval,...
- 2/12/2024
- by Anthony D'Alessandro and Jill Goldsmith
- Deadline Film + TV
Paramount Global Nears Crossroads After Latest Acquisition Offer: What’s Shari Redstone’s Next Move?
News of Byron Allen’s $30 billion offer (including debt) for Paramount Global has restarted Hollywood’s most active parlor game: Whither Paramount and assets like its 112-year-old film studio and iconic Melrose lot?
Paramount is taking Allen’s bid seriously enough, as Deadline understands it, to form a special board committee to evaluate any potential bids. Shari Redstone, non-executive chair of the company and head of its controlling shareholder National Amusements, is not a member of the special committee, a person familiar with the body told Deadline. The purpose of excluding her is to provide an extra layer of scrutiny for all potential transactions. David Ellison’s Skydance Media, RedBird Capital and Apollo Global Management have expressed interest in the Paramount assets, and Paramount CEO Bob Bakish discussed a potential combination with Warner Bros. Discovery CEO David Zaslav last December.
Byron Allen
Conversations with Wall Street and industry veterans on...
Paramount is taking Allen’s bid seriously enough, as Deadline understands it, to form a special board committee to evaluate any potential bids. Shari Redstone, non-executive chair of the company and head of its controlling shareholder National Amusements, is not a member of the special committee, a person familiar with the body told Deadline. The purpose of excluding her is to provide an extra layer of scrutiny for all potential transactions. David Ellison’s Skydance Media, RedBird Capital and Apollo Global Management have expressed interest in the Paramount assets, and Paramount CEO Bob Bakish discussed a potential combination with Warner Bros. Discovery CEO David Zaslav last December.
Byron Allen
Conversations with Wall Street and industry veterans on...
- 2/1/2024
- by Dade Hayes and Jill Goldsmith
- Deadline Film + TV
The world may see its first-ever trillionaire within the next 10 years, the anti-poverty group Oxfam said in a report published on Monday, reflecting the increasingly large wealth divide between the few of the world’s richest people and the rest of the population below them.
Oxfam’s report, titled Inequality Inc., paints a bleak picture of a dynamic between the world’s elite and impoverished that has only grown worse since the pandemic started in 2020. Since then, the wealth of the world’s five richest men — Tesla CEO Elon Musk,...
Oxfam’s report, titled Inequality Inc., paints a bleak picture of a dynamic between the world’s elite and impoverished that has only grown worse since the pandemic started in 2020. Since then, the wealth of the world’s five richest men — Tesla CEO Elon Musk,...
- 1/15/2024
- by Ethan Millman
- Rollingstone.com
The most consequential entertainment business story of 2024 was kickstarted by two pro operators having a pre-Christmas meal. The Dec. 19 lunch between Warner Bros. Discovery CEO David Zaslav and Paramount Global CEO Bob Bakish, held at Paramount’s New York office, instantly ignited a firestorm of “what ifs,” as the future of the storied studio was suddenly in question.
Is Paramount for sale? Or is controlling shareholder National Amusements? Or both? But the future of Paramount — and for that matter Wbd — may be defined by a cast of characters straight out of central casting: A trio of scions forging their own path in the footsteps of their mogul fathers (Shari Redstone, David Ellison, Brian Roberts); a pair of self-made billionaire investors who find their fortunes tied up in the debt-laden companies at the heart of the deal (John Malone, Warren Buffett); and a handful of professional executives seeking moguldom — or at...
Is Paramount for sale? Or is controlling shareholder National Amusements? Or both? But the future of Paramount — and for that matter Wbd — may be defined by a cast of characters straight out of central casting: A trio of scions forging their own path in the footsteps of their mogul fathers (Shari Redstone, David Ellison, Brian Roberts); a pair of self-made billionaire investors who find their fortunes tied up in the debt-laden companies at the heart of the deal (John Malone, Warren Buffett); and a handful of professional executives seeking moguldom — or at...
- 1/4/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
With early snowfall in parts of the country and the forecast of a possible El Niño pattern, all signs are pointing to a vibrant winter on the slopes. “Ski season is revving up, and like most of the past busy seasons, we are seeing high bookings and low availability already,” Tiffany Layne, CEO of Lavon Private Luxury tells The Hollywood Reporter.
Thanks to the Ikon and Epic season passes, members will discover even more perks this year. “These large passes continue to find ways to add value and make skiing more approachable for their members,” says Melissa Biggs Bradley, founder and CEO of Indagare, the members-only luxury travel company. “That means updated lifts in many ski areas, new terrain, Michelin-awarded restaurants and enhanced mobile apps.”
Here’s the latest on what’s new in Colorado, Utah, Idaho and elsewhere in the mountain west, as well as international destinations in Europe and Japan.
Thanks to the Ikon and Epic season passes, members will discover even more perks this year. “These large passes continue to find ways to add value and make skiing more approachable for their members,” says Melissa Biggs Bradley, founder and CEO of Indagare, the members-only luxury travel company. “That means updated lifts in many ski areas, new terrain, Michelin-awarded restaurants and enhanced mobile apps.”
Here’s the latest on what’s new in Colorado, Utah, Idaho and elsewhere in the mountain west, as well as international destinations in Europe and Japan.
- 12/16/2023
- by Elycia Rubin
- The Hollywood Reporter - Movie News
Stock in Paramount Global popped on Friday on speculation David Ellison’s Skydance Media and RedBird Capital are eying a potential takeover of Sheri Redstone’s controlling stake in the Hollywood conglomerate.
Representatives for private equity giant RedBird Capital had no comment on Wall Street chatter around a possible transaction that could see the private equity giant bankrolling a run by Skydance at National Amusements and its controlling stake in Paramount Global.
Reps for Skydance and Paramount Global also did not respond to requests for comment on the Puck report that kicked off the round of speculation.
Against that background, shares in Paramount Global popped by $1.91, or nearly 13 percent, to $16.94.
Wells Fargo analyst Steven Cahall sees odds-on chances that a bilateral deal with National Amusements gets done, with big implications for studio asset sales and continuing industry consolidation.
“Over the years we’ve witnessed Skydance grow from a co-producer on...
Representatives for private equity giant RedBird Capital had no comment on Wall Street chatter around a possible transaction that could see the private equity giant bankrolling a run by Skydance at National Amusements and its controlling stake in Paramount Global.
Reps for Skydance and Paramount Global also did not respond to requests for comment on the Puck report that kicked off the round of speculation.
Against that background, shares in Paramount Global popped by $1.91, or nearly 13 percent, to $16.94.
Wells Fargo analyst Steven Cahall sees odds-on chances that a bilateral deal with National Amusements gets done, with big implications for studio asset sales and continuing industry consolidation.
“Over the years we’ve witnessed Skydance grow from a co-producer on...
- 12/8/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
[This story includes mild spoilers for Upload season three, episode three “Cyber Discount Day” and episode four “Download Doctor.”]
In Upload‘s version of the future, where people live and work is horrifying.
To be fair, creator Greg Daniels’ mind isn’t entirely responsible for season three’s terrifying visions of what society’s personal and professional spaces could be amid the rapid expansion of tech and digital life. Much of the responsibility for this bleak-looking future — the secret upload call center, temporary temp agency and “Reduced Circumstance Housing” where Nathan (Robbie Amell) and Andy (Andy Allo) come to stay with his mom (Jessica Tuck) — in episodes three and four were based on real concepts and places tied to homes and offices.
Director Tom Marshall, says he pulled from the “very real world of this time,” including Hong Kong’s coffin houses for episode three’s housing design. According to The Guardian, one such version was just 500 square feet featuring up to 30 residents, cut up with plywood bunk beds...
In Upload‘s version of the future, where people live and work is horrifying.
To be fair, creator Greg Daniels’ mind isn’t entirely responsible for season three’s terrifying visions of what society’s personal and professional spaces could be amid the rapid expansion of tech and digital life. Much of the responsibility for this bleak-looking future — the secret upload call center, temporary temp agency and “Reduced Circumstance Housing” where Nathan (Robbie Amell) and Andy (Andy Allo) come to stay with his mom (Jessica Tuck) — in episodes three and four were based on real concepts and places tied to homes and offices.
Director Tom Marshall, says he pulled from the “very real world of this time,” including Hong Kong’s coffin houses for episode three’s housing design. According to The Guardian, one such version was just 500 square feet featuring up to 30 residents, cut up with plywood bunk beds...
- 10/28/2023
- by Abbey White
- The Hollywood Reporter - Movie News
Supporting health and education around the world.
Prior to Warren Buffett's 2006 donation of $37bn, the fund stood at $29.1bn and had made $10.5bn in grants since 1994. 70% of that sum was spent outside the US, and the largest single grant was $1bn to the United Negro College Fund.
Commenting on Buffett’s donation to the fund, Bill Gates said, “It is a big challenge to make sure this money gets used in the right way, but it is one we are thrilled about.”
Celebrity supporters
Bill and Melinda Gates Foundation has 22 known supporters, including Bill Clinton, Hillary Clinton, and Salma Hayek
Areas of work ChildrenEducationHealthHomelessnessFamily/Parent Support Read more about Bill and Melinda Gates Foundation's work and celebrity supporters. Related articles San Diego School SurpriseGates Open To More Charity WorkWarren Buffett Gives 85% of Fortune To Bill Gates' FoundationBuffett Goes Broke After 45mins of Charity Poker TournamentIdol Gives Back $60m
Find...
Prior to Warren Buffett's 2006 donation of $37bn, the fund stood at $29.1bn and had made $10.5bn in grants since 1994. 70% of that sum was spent outside the US, and the largest single grant was $1bn to the United Negro College Fund.
Commenting on Buffett’s donation to the fund, Bill Gates said, “It is a big challenge to make sure this money gets used in the right way, but it is one we are thrilled about.”
Celebrity supporters
Bill and Melinda Gates Foundation has 22 known supporters, including Bill Clinton, Hillary Clinton, and Salma Hayek
Areas of work ChildrenEducationHealthHomelessnessFamily/Parent Support Read more about Bill and Melinda Gates Foundation's work and celebrity supporters. Related articles San Diego School SurpriseGates Open To More Charity WorkWarren Buffett Gives 85% of Fortune To Bill Gates' FoundationBuffett Goes Broke After 45mins of Charity Poker TournamentIdol Gives Back $60m
Find...
- 7/26/2023
- Look to the Stars
Hong Kong, July 3 (Ians) China’s Byd sold more than 2.5 lakh electric vehicles in June in China, beating its own record, as the Ev market in China stablises, the media reported on Monday.
Backed by Warren Buffett’s Berkshire Hathaway, Byd delivered 253,046 cars last month, a 5.3 per cent increase over the 239,092 cars delivered in May, it said in a filing to the Hong Kong stock exchange, reports the South China Morning Post.
Byd delivered 1.26 million vehicles to customers in the first quarter of 2023, almost double the figure a year ago.
In June, Byd delivered 128,196 pure electric cars, up 7.2 per cent from May. The company sold 123,489 plug-in hybrid cars, a 3.4 per cent monthly increase, the report mentioned.
On the other hand, Tesla’s Gigafactory in Shanghai delivered 42,508 vehicles to customers in May, up by 6.4 per cent from the previous month.
One in every 7 cars sold during the first quarter this year was an electric vehicle,...
Backed by Warren Buffett’s Berkshire Hathaway, Byd delivered 253,046 cars last month, a 5.3 per cent increase over the 239,092 cars delivered in May, it said in a filing to the Hong Kong stock exchange, reports the South China Morning Post.
Byd delivered 1.26 million vehicles to customers in the first quarter of 2023, almost double the figure a year ago.
In June, Byd delivered 128,196 pure electric cars, up 7.2 per cent from May. The company sold 123,489 plug-in hybrid cars, a 3.4 per cent monthly increase, the report mentioned.
On the other hand, Tesla’s Gigafactory in Shanghai delivered 42,508 vehicles to customers in May, up by 6.4 per cent from the previous month.
One in every 7 cars sold during the first quarter this year was an electric vehicle,...
- 7/3/2023
- by Agency News Desk
- GlamSham
Gas up the Learjets and break out the Moncler vests, it’s time for corporate chieftains to let their hair down, as only the one percent of the one percent knows how.
Meta chief Mark Zuckerberg, Warner Bros. Discovery honcho David Zaslav, Paramount Global chair Shari Redstone, Google CEO Sundar Pichai, Apple head Tim Cook, and Microsoft founder Bill Gates are heading to Idaho in July to attend the annual “summer camp for moguls,” known more formally as Sun Valley. And Bob Iger, back on the throne at the Walt Disney Company, will also be touching down in the resort town after a brief, unhappy (for shareholders) interregnum. They’ll be mixing and mingling with other media barons, Silicon Valley heavyweights and political players at the media finance retreat hosted by Allen & Co.
Among those getting tapped to dust off their Brooks Brothers casual wear are two former treasury secretaries,...
Meta chief Mark Zuckerberg, Warner Bros. Discovery honcho David Zaslav, Paramount Global chair Shari Redstone, Google CEO Sundar Pichai, Apple head Tim Cook, and Microsoft founder Bill Gates are heading to Idaho in July to attend the annual “summer camp for moguls,” known more formally as Sun Valley. And Bob Iger, back on the throne at the Walt Disney Company, will also be touching down in the resort town after a brief, unhappy (for shareholders) interregnum. They’ll be mixing and mingling with other media barons, Silicon Valley heavyweights and political players at the media finance retreat hosted by Allen & Co.
Among those getting tapped to dust off their Brooks Brothers casual wear are two former treasury secretaries,...
- 6/8/2023
- by Brent Lang and Rebecca Rubin
- Variety Film + TV
Paramount Global owner National Amusements Inc. is getting a $125 million cash infusion that the Redstone family holding company says will help shore up its ownership of the entertainment firm.
The strategic preferred equity investment, from Bdt & Msd Partners, will be used to pay down its debt and pay back loans that had been secured by shares of Paramount. Bdt & Msd is a merchant bank that specializes in working with the owners and founders of businesses.
“Upon termination of those facilities, Nai shares of Paramount Global which had been pledged to support those loans will be released back to Nai, and obligations to make future pledges under these facilities will be eliminated,” the company adds.
“Our expanded partnership with Bdt & Msd reflects our strong belief in Paramount’s ability to deliver value to all shareholders,” said Shari Redstone, chair, CEO and president of Nai, in a statement. “Paramount has the best assets in the media industry,...
The strategic preferred equity investment, from Bdt & Msd Partners, will be used to pay down its debt and pay back loans that had been secured by shares of Paramount. Bdt & Msd is a merchant bank that specializes in working with the owners and founders of businesses.
“Upon termination of those facilities, Nai shares of Paramount Global which had been pledged to support those loans will be released back to Nai, and obligations to make future pledges under these facilities will be eliminated,” the company adds.
“Our expanded partnership with Bdt & Msd reflects our strong belief in Paramount’s ability to deliver value to all shareholders,” said Shari Redstone, chair, CEO and president of Nai, in a statement. “Paramount has the best assets in the media industry,...
- 5/25/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
The world’s second richest man continues to make his fortune in investment and turn it to philanthropy in the grand tradition of Carnegie and Rockefeller. In 2006 he made American history by making the largest ever charitable donation by an individual – $37bn to the Bill and Melinda Gates Foundation.
Buffett’s Lincoln Town Car fetched $73,200 in charity auction for Girls Inc.
Charities & foundations supported
Warren Buffett has supported the following charities:
Animal Rescue FoundationBill and Melinda Gates FoundationGirls Inc.GlideJames Redford Institute for Transplant AwarenessMake-a-Wish FoundationMusic RisingNoVo FoundationSmile Train Read more about Warren Buffett's charity work and events. Related articles Bids For Charity Lunch With Warren Buffet Reach $455,000Warren Buffett Gives 85% of Fortune To Bill Gates' FoundationLunch With Buffett Sells For $620kBuffett Goes Broke After 45mins of Charity Poker TournamentBuffett Auctions Celebrity Dinner For Charity
Find out more about how to get the support of a celebrity →
Copyright © 2023 Look To The Stars.
Buffett’s Lincoln Town Car fetched $73,200 in charity auction for Girls Inc.
Charities & foundations supported
Warren Buffett has supported the following charities:
Animal Rescue FoundationBill and Melinda Gates FoundationGirls Inc.GlideJames Redford Institute for Transplant AwarenessMake-a-Wish FoundationMusic RisingNoVo FoundationSmile Train Read more about Warren Buffett's charity work and events. Related articles Bids For Charity Lunch With Warren Buffet Reach $455,000Warren Buffett Gives 85% of Fortune To Bill Gates' FoundationLunch With Buffett Sells For $620kBuffett Goes Broke After 45mins of Charity Poker TournamentBuffett Auctions Celebrity Dinner For Charity
Find out more about how to get the support of a celebrity →
Copyright © 2023 Look To The Stars.
- 5/17/2023
- Look to the Stars
Paramount’s difficult quarter appears to have given one of the company’s largest outside shareholders some pause.
On Saturday, Warren Buffett’s Berkshire Hathaway held its annual meeting in Omaha, Nebraska. And, as is tradition, Buffett and his Berkshire vice chairman Charlie Munger answered dozens of questions from shareholders, over multiple hours.
While many of the questions tackled the global economy, inflation, Apple, artificial intelligence and Berkshire’s lucrative insurance businesses, one question homed in on a particular Berkshire holding: Paramount Global. Buffett and Berkshire own about 94 million Paramount shares, currently valued at about $1.6 billion, per Berkshire’s latest filings.
A Berkshire shareholder asked whether Buffett still had “conviction in his investment thesis” in Paramount, and how he sees the streaming wars evolving.
Paramount slashed its dividend last week as it sought to conserve free cash flow and shift its streaming business toward profitability.
“It’s not good news...
On Saturday, Warren Buffett’s Berkshire Hathaway held its annual meeting in Omaha, Nebraska. And, as is tradition, Buffett and his Berkshire vice chairman Charlie Munger answered dozens of questions from shareholders, over multiple hours.
While many of the questions tackled the global economy, inflation, Apple, artificial intelligence and Berkshire’s lucrative insurance businesses, one question homed in on a particular Berkshire holding: Paramount Global. Buffett and Berkshire own about 94 million Paramount shares, currently valued at about $1.6 billion, per Berkshire’s latest filings.
A Berkshire shareholder asked whether Buffett still had “conviction in his investment thesis” in Paramount, and how he sees the streaming wars evolving.
Paramount slashed its dividend last week as it sought to conserve free cash flow and shift its streaming business toward profitability.
“It’s not good news...
- 5/8/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
If you purchase an independently reviewed product or service through a link on our website, The Hollywood Reporter may receive an affiliate commission.
Spring break is almost here, and industry-beloved mountain resorts are preparing for a flurry of visitors. Swanky accommodations, culinary delights and hours of shredding are just a two-hour plane ride away — and if you’re decamping from a sunny locale, you’ll need some good winter accessories to keep you toasty.
Related: The Best Women’s Winter Jackets, From Puffers to Layerable Coats
Ahead, we’ve rounded up the best spots in Sun Valley, Aspen and Deer Valley and the ultimate ski gear for a rip-roaring, ski- or snowboarding-packed adventure in each stylish (and snowy) locale. Read on for plenty of options for mountain lodging, dining and imbibing, then shop our top ski resort fashion picks.
Sun Valley, Idaho Sun Valley Lodge
If heaps of expansive terrain,...
Spring break is almost here, and industry-beloved mountain resorts are preparing for a flurry of visitors. Swanky accommodations, culinary delights and hours of shredding are just a two-hour plane ride away — and if you’re decamping from a sunny locale, you’ll need some good winter accessories to keep you toasty.
Related: The Best Women’s Winter Jackets, From Puffers to Layerable Coats
Ahead, we’ve rounded up the best spots in Sun Valley, Aspen and Deer Valley and the ultimate ski gear for a rip-roaring, ski- or snowboarding-packed adventure in each stylish (and snowy) locale. Read on for plenty of options for mountain lodging, dining and imbibing, then shop our top ski resort fashion picks.
Sun Valley, Idaho Sun Valley Lodge
If heaps of expansive terrain,...
- 3/24/2023
- by Elycia Rubin
- The Hollywood Reporter - Movie News
Who Owns What? Top Investors Shuffle Their Securities Holdings in the Media and Entertainment Sector
At a time when many investors were sitting on the sidelines, some well-known strategic spenders made massive bets on media and tech companies last year. To get a better sense of where the largest money managers like Warren Buffett have sizable ownership stakes, look no further than the annual flood of Schedule 13D and 13G reports.
For those outside of the inside-baseball world of corporate finance: Forty-five days out from the end of the year, companies are required to have filed 13D and 13G disclosure forms with the Securities and Exchange Commission. These reports are required for investors who amass 5% or more of a company’s total stock issue. Starting with this primer on how to monitor big-dollar investment bets, Variety will offer an a quarterly survey of how the media and entertainment sector is faring among the world’s most sophisticated stock pickers.
The significance of these annual filings...
For those outside of the inside-baseball world of corporate finance: Forty-five days out from the end of the year, companies are required to have filed 13D and 13G disclosure forms with the Securities and Exchange Commission. These reports are required for investors who amass 5% or more of a company’s total stock issue. Starting with this primer on how to monitor big-dollar investment bets, Variety will offer an a quarterly survey of how the media and entertainment sector is faring among the world’s most sophisticated stock pickers.
The significance of these annual filings...
- 3/8/2023
- by Jennifer Maas and Heidi Chung
- Variety Film + TV
Paramount+ added 9.9 million subscribers last quarter to 56 million and grew revenue 81 year-on-year but streaming losses mounted and costs rose.
Total Paramount Global revenue of 8.1 billion was up 2 from the year earlier. TV Media saw dips in advertising, affiliate and licensing revenue. Shares were down in early trading.
The film studio looked bright on horror thriller Smile, released Sept. 30.
Streaming subscriber growth was driven by the NFL, the expansion of existing franchises like Top Gun: Maverick and 1923, the success of new franchises like Tulsa King and Smile, as well as CBS’s overall entertainment slate.
Global Dtc subscribers rose to more than 77 million.
Streaming revenue was up 30 to 1.3 billion year-over-year, including an 81 jump at Paramount+. Subscription revenue rose 48 year-over-year, reflecting Paramount+ gains. Streaming ad sales firmed 4 and subscriptions surged 48. But adjusted losses widened by 73 million to 575 million as expenses grew — to 1.97 billion from 1.57 billion. Balancing streaming spend with a path...
Total Paramount Global revenue of 8.1 billion was up 2 from the year earlier. TV Media saw dips in advertising, affiliate and licensing revenue. Shares were down in early trading.
The film studio looked bright on horror thriller Smile, released Sept. 30.
Streaming subscriber growth was driven by the NFL, the expansion of existing franchises like Top Gun: Maverick and 1923, the success of new franchises like Tulsa King and Smile, as well as CBS’s overall entertainment slate.
Global Dtc subscribers rose to more than 77 million.
Streaming revenue was up 30 to 1.3 billion year-over-year, including an 81 jump at Paramount+. Subscription revenue rose 48 year-over-year, reflecting Paramount+ gains. Streaming ad sales firmed 4 and subscriptions surged 48. But adjusted losses widened by 73 million to 575 million as expenses grew — to 1.97 billion from 1.57 billion. Balancing streaming spend with a path...
- 2/16/2023
- by Jill Goldsmith
- Deadline Film + TV
Robert California was one of the few characters on "The Office" that fans seem to either love or hate. The workplace sitcom is filled with "people we know," and several of us have dealt with prickly co-workers similar to Angela (Angela Martin) or people like Stanley (Leslie David Baker), who hate their jobs and live for pretzel day. Many of us have also rooted for obvious workplace romances like Jim (John Krasinski) and Pam (Jenna Fischer).
But Robert California? One of these things is not like the other, as few of us have likely crossed paths with anyone like him. And for that, we can blame Michael Scott (of course we can). When Steve Carell left "The Office" after seven seasons, it left a gaping hole in the cast, and the show would eventually turn to James Spader as the new boss to fill the tremendous void Michael left. The...
But Robert California? One of these things is not like the other, as few of us have likely crossed paths with anyone like him. And for that, we can blame Michael Scott (of course we can). When Steve Carell left "The Office" after seven seasons, it left a gaping hole in the cast, and the show would eventually turn to James Spader as the new boss to fill the tremendous void Michael left. The...
- 1/22/2023
- by Travis Yates
- Slash Film
New Delhi, Dec 10 (Ians) Paytm, India’s leading mobile payments and financial services company, has informed the exchanges about its plans to buyback shares as its management believes that it will be beneficial for its shareholders.
The company said that its decision for the same comes from its strong financial position and liquidity. A board meeting will be held on December 13 for the approval of the company’s first ever share buyback.
Paytm’s announcement has been welcomed by investors and analysts as the company’s stock surged sharply during Friday’s trading session.
While the details of the buyback will be disclosed by the company after the board meeting, social media is already abuzz with speculations about Paytm’s move, with some even comparing the company’s proposed move to Warren Buffet’s Berkshire Hathaway, a top US multinational conglomerate.
A Twitter user pointed out how Paytm’s proposed...
The company said that its decision for the same comes from its strong financial position and liquidity. A board meeting will be held on December 13 for the approval of the company’s first ever share buyback.
Paytm’s announcement has been welcomed by investors and analysts as the company’s stock surged sharply during Friday’s trading session.
While the details of the buyback will be disclosed by the company after the board meeting, social media is already abuzz with speculations about Paytm’s move, with some even comparing the company’s proposed move to Warren Buffet’s Berkshire Hathaway, a top US multinational conglomerate.
A Twitter user pointed out how Paytm’s proposed...
- 12/10/2022
- by Glamsham Bureau
- GlamSham
Three rite-of-passage movies are vying for attention this week at a moment when the rewards of maturity seem to be offering more gratification than the agonies of youth.
Steven Spielberg, Sam Mendes and James Gray have delivered candid and poignant coming-of-age dramas dealing with broken marriages, mental health traumas and unwitting encounters with racial inequities, respectively.
Each is a survival story: A key element of the healing process was the influence of movies – a welcome message at a time when movies are enduring a rite of passage of their own.
The films’ timing carries a certain cultural irony: With losses and layoffs wreaking headlines in the tech economy, this has been a perilous week for those coping with younger superstars named Musk, Zuckerberg, Bezos and Bankman-Fried.
The many thousands suffering career crises might wonder whether this generation of billionaire moguls ever underwent the probing self-examinations delineated by the filmmakers.
Or,...
Steven Spielberg, Sam Mendes and James Gray have delivered candid and poignant coming-of-age dramas dealing with broken marriages, mental health traumas and unwitting encounters with racial inequities, respectively.
Each is a survival story: A key element of the healing process was the influence of movies – a welcome message at a time when movies are enduring a rite of passage of their own.
The films’ timing carries a certain cultural irony: With losses and layoffs wreaking headlines in the tech economy, this has been a perilous week for those coping with younger superstars named Musk, Zuckerberg, Bezos and Bankman-Fried.
The many thousands suffering career crises might wonder whether this generation of billionaire moguls ever underwent the probing self-examinations delineated by the filmmakers.
Or,...
- 11/17/2022
- by Peter Bart
- Deadline Film + TV
Advertising is soft, Paramount Global’s top finance executive said, but the company’s mix of broadcast, Fast, SVOD and cable “puts us in a very powerful position” to weather the market, as does the sale of a bigger-than-usual chunk of inventory at the upfront.
“The macro environment is going to continue to be a factor,” CFO Naveen Chopra said at Rbc’s media conference. “There are some who have suggested that the current environment is worse than what they saw in Covid. We don’t see anything close to that, to be clear.” He’s referring to a comment by Warner Bros. Discovery CEO David Zaslav at the same venue Tuesday that the ad market currently is worse than during Covid.
Related Story Paramount Global Begins New Round Of Layoffs, Focused In Ad Sales Group Related Story UFC-Disney Rights: Endeavor President Mark Shapiro Says Renewal Talks Could Start...
“The macro environment is going to continue to be a factor,” CFO Naveen Chopra said at Rbc’s media conference. “There are some who have suggested that the current environment is worse than what they saw in Covid. We don’t see anything close to that, to be clear.” He’s referring to a comment by Warner Bros. Discovery CEO David Zaslav at the same venue Tuesday that the ad market currently is worse than during Covid.
Related Story Paramount Global Begins New Round Of Layoffs, Focused In Ad Sales Group Related Story UFC-Disney Rights: Endeavor President Mark Shapiro Says Renewal Talks Could Start...
- 11/16/2022
- by Jill Goldsmith
- Deadline Film + TV
Exclusive: Layoffs are under way at Paramount Global, with several dozen employees expected to formalize their departures today, insiders have confirmed to Deadline.
The cuts, which are expected to affect fewer than 100 workers in both New York and Los Angeles, are concentrated largely in the ad sales group. CBS Studios and Paramount Television Studios employees are also affected, sources added.
Related Story Paramount Global CFO Says Ad Market Soft But Not "Anything Close To” Covid Days Related Story Paramount Global Stock Flies As Warren Buffett's Berkshire Hathaway Boosts Stake Related Story The CW To Shed Wbd, Paramount Content In 2023-24 Season; Former Owners "Not Precluded From Selling Us Programming" If It's "A Deal We Like," Says Nexstar CEO
A number of business areas had been publicly targeted for streamlining in recent weeks, among them international operations, marketing and ad sales. The sales group has been undergoing a transformation in recent weeks,...
The cuts, which are expected to affect fewer than 100 workers in both New York and Los Angeles, are concentrated largely in the ad sales group. CBS Studios and Paramount Television Studios employees are also affected, sources added.
Related Story Paramount Global CFO Says Ad Market Soft But Not "Anything Close To” Covid Days Related Story Paramount Global Stock Flies As Warren Buffett's Berkshire Hathaway Boosts Stake Related Story The CW To Shed Wbd, Paramount Content In 2023-24 Season; Former Owners "Not Precluded From Selling Us Programming" If It's "A Deal We Like," Says Nexstar CEO
A number of business areas had been publicly targeted for streamlining in recent weeks, among them international operations, marketing and ad sales. The sales group has been undergoing a transformation in recent weeks,...
- 11/16/2022
- by Dade Hayes
- Deadline Film + TV
Famed investor Warren Buffett’s Berkshire Hathaway knocked Paramount Global shares higher after disclosing that it has raised his stake in the media company.
In an SEC filing, the so-called “Oracle Of Omaha’s” holding company revealed a ownership position of 91.2 million Paramount shares worth 1.7 billion as of the end of the third quarter.
The stock is trading up over 9 at 20.20 on the news, outpacing the broader market. Media and entertainment shares have been laggards this year on streaming jitters, a soft ad market and cloudy economic outlook.
Berkshire disclosed its initial stake in August, revealing an investment of 69 million shares worth 2.6 billion. This is significant increase. Building up a position indicates faith in the company’s prospects, despite Wall Street’s increased skepticism of streaming as a business. There’s also the potential for some kind of deal in a constantly shifting landscape. Paramount Global’s stock remains fully...
In an SEC filing, the so-called “Oracle Of Omaha’s” holding company revealed a ownership position of 91.2 million Paramount shares worth 1.7 billion as of the end of the third quarter.
The stock is trading up over 9 at 20.20 on the news, outpacing the broader market. Media and entertainment shares have been laggards this year on streaming jitters, a soft ad market and cloudy economic outlook.
Berkshire disclosed its initial stake in August, revealing an investment of 69 million shares worth 2.6 billion. This is significant increase. Building up a position indicates faith in the company’s prospects, despite Wall Street’s increased skepticism of streaming as a business. There’s also the potential for some kind of deal in a constantly shifting landscape. Paramount Global’s stock remains fully...
- 11/15/2022
- by Jill Goldsmith
- Deadline Film + TV
Paramount’s stock surged Tuesday after Warren Buffett’s Berkshire Hathaway disclosed in public filings that it dramatically upped its stake in the company that houses Paramount Pictures, CBS, Showtime, Paramount+, Pluto TV, and other key brands. As a result of the billionaire’s confidence, shares in Paramount (Para) soared more than 9 percent.
Buffett’s Berkshire Hathaway now has 91 million shares of Paramount. According to Wells Fargo equity analyst Steven Cahall, with around 15 percent of class B shares valued at 1.7 billion, Buffett’s company is Paramount’s largest outside investor.
In mid-May, Buffett disclosed his investment company purchased 75 million shares of Para. At the time, Para was trading much higher and the stake was worth 2.6 billion. That revelation goosed the stock from under 27 per share to the low 30s. Weeks later, Paramount’s “Top Gun: Maverick” came out and eventually became the year’s biggest box-office hit to the tune of a 1.4 billion worldwide,...
Buffett’s Berkshire Hathaway now has 91 million shares of Paramount. According to Wells Fargo equity analyst Steven Cahall, with around 15 percent of class B shares valued at 1.7 billion, Buffett’s company is Paramount’s largest outside investor.
In mid-May, Buffett disclosed his investment company purchased 75 million shares of Para. At the time, Para was trading much higher and the stake was worth 2.6 billion. That revelation goosed the stock from under 27 per share to the low 30s. Weeks later, Paramount’s “Top Gun: Maverick” came out and eventually became the year’s biggest box-office hit to the tune of a 1.4 billion worldwide,...
- 11/15/2022
- by Brian Welk and Tony Maglio
- Indiewire
Click here to read the full article.
Warren Buffett is still betting on Paramount.
The famed investor’s company, Berkshire Hathaway, has increased its stake in Paramount Global in recent months, according to a filing Berkshire made with the Securities and Exchange Commission on Monday.
Berkshire now owns more than 91 million Class B shares in Paramount, making it the largest outside investor, holding about 15 percent of the company’s Class B stock, worth about 1.7 billion as of market close.
Paramount, of course, is controlled via its Class A shares by National Amusements, the holding company run by Shari Redstone.
Still, the significant investment by Buffett is sure to attract further attention. Buffett first revealed that he had bought in to Paramount in May, when he disclosed a stake of about 75 million shares, which was valued at 2.6 billion at the time. Since then, most media and entertainment stocks have fallen in value.
Warren Buffett is still betting on Paramount.
The famed investor’s company, Berkshire Hathaway, has increased its stake in Paramount Global in recent months, according to a filing Berkshire made with the Securities and Exchange Commission on Monday.
Berkshire now owns more than 91 million Class B shares in Paramount, making it the largest outside investor, holding about 15 percent of the company’s Class B stock, worth about 1.7 billion as of market close.
Paramount, of course, is controlled via its Class A shares by National Amusements, the holding company run by Shari Redstone.
Still, the significant investment by Buffett is sure to attract further attention. Buffett first revealed that he had bought in to Paramount in May, when he disclosed a stake of about 75 million shares, which was valued at 2.6 billion at the time. Since then, most media and entertainment stocks have fallen in value.
- 11/14/2022
- by Alex Weprin
- The Hollywood Reporter - Movie News
Amazon founder Jeff Bezos plans to give away most of his 124Bn fortune during his lifetime.
In an interview with CNN, Bezos was questioned if he intended to donate the majority of his money to charitable causes, to which he replied: “Yeah, I do.”
He plans to focus his charitable giving on climate change and supporting people who can unify the world.
Bezos, who is the fourth-richest person in the world, has been criticized for not signing the Giving Pledge, a campaign founded by Warren Buffett and Bill Gates to encourage the wealthiest to give most of their money to charity.
To this point, he had not specified his plans for his fortune, though he had committed around 10Bn to the Bezos Earth Fund.
He was appearing alongside his partner, Lauren Sánchez, in their first interview since becoming a couple in 2019 to promote the Bezos Courage and Civility Award, which...
In an interview with CNN, Bezos was questioned if he intended to donate the majority of his money to charitable causes, to which he replied: “Yeah, I do.”
He plans to focus his charitable giving on climate change and supporting people who can unify the world.
Bezos, who is the fourth-richest person in the world, has been criticized for not signing the Giving Pledge, a campaign founded by Warren Buffett and Bill Gates to encourage the wealthiest to give most of their money to charity.
To this point, he had not specified his plans for his fortune, though he had committed around 10Bn to the Bezos Earth Fund.
He was appearing alongside his partner, Lauren Sánchez, in their first interview since becoming a couple in 2019 to promote the Bezos Courage and Civility Award, which...
- 11/14/2022
- by Jesse Whittock
- Deadline Film + TV
Ever since Paramount Global chair Shari Redstone won a hard-fought battle to re-merge CBS and Viacom in 2019, the combined company has been a chop-licking catalyst for entertainment media analysts and C-suite executives speculating on whether the company will be the the next meal for a consolidation-hungry industry. Yet despite the fervent conjecture, a realistic and viable suitor has yet to emerge.
Paramount Global has long been seen as an acquisition target due its relative size: Even merged, the company’s market cap is 12.6 billion (down from the 26 billion it was valued at at the time of the merger) and the enterprise value is 25.6 billion, far below its rivals such as Comcast, Disney and Netflix. The chatter reached a fever pitch when Warren Buffett’s Berkshire Hathaway acquired 2.6 billion worth of Paramount Global stock in May, which some interpreted as a sign that a juicy resale might come in the relatively near future.
Paramount Global has long been seen as an acquisition target due its relative size: Even merged, the company’s market cap is 12.6 billion (down from the 26 billion it was valued at at the time of the merger) and the enterprise value is 25.6 billion, far below its rivals such as Comcast, Disney and Netflix. The chatter reached a fever pitch when Warren Buffett’s Berkshire Hathaway acquired 2.6 billion worth of Paramount Global stock in May, which some interpreted as a sign that a juicy resale might come in the relatively near future.
- 10/21/2022
- by Brandon Katz
- The Wrap
Elon Musk gave a strong indication today that his purchase of Twitter is indeed on track in a reference to the tortured deal, not via tweet, but towards the tail end of an earnings’ call for Tesla. He said the social media platform he’s looking to acquire by a court-imposed Oct. 28 deadline is currently overvalued, but “has incredible potential.”
“Although, obviously, myself and the other investors are obviously overpaying for Twitter right now, the long-term potential for Twitter in my view is an order of magnitude greater than its current value,” the billionaire Tesla founder said after the electric automaker’s quarterly results.
He called Twitter an asset “that has sort of languished for a long time.”
“I am excited about the Twitter situation,” he said.
Musk agreed to buy the company in April for 44 billion, or 54.20 a share, but walked away from the deal in July. Twitter sued...
“Although, obviously, myself and the other investors are obviously overpaying for Twitter right now, the long-term potential for Twitter in my view is an order of magnitude greater than its current value,” the billionaire Tesla founder said after the electric automaker’s quarterly results.
He called Twitter an asset “that has sort of languished for a long time.”
“I am excited about the Twitter situation,” he said.
Musk agreed to buy the company in April for 44 billion, or 54.20 a share, but walked away from the deal in July. Twitter sued...
- 10/19/2022
- by Jill Goldsmith
- Deadline Film + TV
Click here to read the full article.
Amid the torrent of accusations leveled against powerful Hollywood men in the frenzied first few months of the #MeToo era, industry observers often shared the same jaded expectation. Short of arrest or indictment, the thinking went, the accused would be back on their feet after a brief time-out and a few memory-cleansing news cycles, carrying on with their careers unaffected. The dollar is king; Hollywood always forgets; etc.
This hasn’t happened. In fact, comebacks — if they materialize at all — are strikingly and significantly circumscribed. One of #MeToo’s greatest victories, at the practical level, has been its unrelenting administration of professional punishment.
Think about how few prominent individuals felled by sexual harassment or assault allegations in the post-Weinstein era have returned to an equivalent stature. The category excludes the likes of Jamie Foxx and Ryan Seacrest, whose denials of the allegations against...
Amid the torrent of accusations leveled against powerful Hollywood men in the frenzied first few months of the #MeToo era, industry observers often shared the same jaded expectation. Short of arrest or indictment, the thinking went, the accused would be back on their feet after a brief time-out and a few memory-cleansing news cycles, carrying on with their careers unaffected. The dollar is king; Hollywood always forgets; etc.
This hasn’t happened. In fact, comebacks — if they materialize at all — are strikingly and significantly circumscribed. One of #MeToo’s greatest victories, at the practical level, has been its unrelenting administration of professional punishment.
Think about how few prominent individuals felled by sexual harassment or assault allegations in the post-Weinstein era have returned to an equivalent stature. The category excludes the likes of Jamie Foxx and Ryan Seacrest, whose denials of the allegations against...
- 9/30/2022
- by Gary Baum
- The Hollywood Reporter - Movie News
Gates talked about creative capitalism at the World Economic Forum in Davos. The Forum saw world leaders discuss extreme poverty, among other topics. A thirty minute video of Gates’ speech is available on YouTube.
At a bridal lunch the day before his wedding to Melinda, Gates’ mother Mary read a letter to the couple saying, in effect, “From those who are given great resources, great things are expected.”
With further encouragement from their friend the investor Warren Buffett, Bill and Melinda established a charitable foundation that has grown to be among the largest of its kind.
Charities & foundations supported
Bill Gates has supported the following charities:
Als AssociationBill and Melinda Gates FoundationChildren's Vaccine ProgramChildren with AIDSComic ReliefEarth InstituteEstamosFood Bank For New York CityGALVMedMake A Child Smile AppealMASSIVEGOODRotary InternationalThe Lunchbox Fund Read more about Bill Gates's charity work and events. Related articles San Diego School SurpriseGates Open To More Charity WorkWarren...
At a bridal lunch the day before his wedding to Melinda, Gates’ mother Mary read a letter to the couple saying, in effect, “From those who are given great resources, great things are expected.”
With further encouragement from their friend the investor Warren Buffett, Bill and Melinda established a charitable foundation that has grown to be among the largest of its kind.
Charities & foundations supported
Bill Gates has supported the following charities:
Als AssociationBill and Melinda Gates FoundationChildren's Vaccine ProgramChildren with AIDSComic ReliefEarth InstituteEstamosFood Bank For New York CityGALVMedMake A Child Smile AppealMASSIVEGOODRotary InternationalThe Lunchbox Fund Read more about Bill Gates's charity work and events. Related articles San Diego School SurpriseGates Open To More Charity WorkWarren...
- 8/31/2022
- Look to the Stars
Hong Kong, Aug 31 (Ians) World’s biggest electric car-maker Byd saw its stock nosediving by nearly 13 per cent on Wednesday after billionaire Warren Buffett’s Berkshire Hathaway reduced its stake in the company.
Berkshire sold 1.33 million shares in the automaker (under 1 per cent of its holding) in Byd for around 47 million, according to a filing with the Hong Kong Stock Exchange, reports Nikkei Asia.
There is widespread speculation that Buffett will soon sell out his entire stake in Byd.
The sale came as Byd this week reported better-than-expected results for the first half of the year, registering 21.7 billion in revenue that was nearly 66 per cent up from the same period last year.
The sale of Buffett’s stock came as for the first time, China’s Byd Auto became the top-selling Ev brand, dethroning Elon Musk-run Tesla in Q2 2022.
During Q2, Byd Auto shipped more than 354,000 Ev units, an increase of 266 per cent YoY.
Berkshire sold 1.33 million shares in the automaker (under 1 per cent of its holding) in Byd for around 47 million, according to a filing with the Hong Kong Stock Exchange, reports Nikkei Asia.
There is widespread speculation that Buffett will soon sell out his entire stake in Byd.
The sale came as Byd this week reported better-than-expected results for the first half of the year, registering 21.7 billion in revenue that was nearly 66 per cent up from the same period last year.
The sale of Buffett’s stock came as for the first time, China’s Byd Auto became the top-selling Ev brand, dethroning Elon Musk-run Tesla in Q2 2022.
During Q2, Byd Auto shipped more than 354,000 Ev units, an increase of 266 per cent YoY.
- 8/31/2022
- by Glamsham Bureau
- GlamSham
Spoiler Alert: Do not read if you have not watched the series finale of “Better Call Saul” Season 6, titled “Saul Gone.”
More than seven years after “Better Call Saul” began, and 13 years after Bob Odenkirk first popped up as the sleazy lawyer in “Breaking Bad,” his story has come to a close — and Saul is behind bars.
After a little United States v. Saul Goodman legal action, the now-reformed Jimmy McGill ended up with 86 years in prison as Walter White’s “indispensable” criminal lawyer. After going down a dark path the past few seasons, Saul finally turned a corner and confessed to all of his crimes, clearing Kim Wexler’s (Rhea Seehorn) name.
So how did we get to this (somewhat) happy ending, at least by “Breaking Bad” standards? The episode started with a flashback to “Better Call Saul” Season 5, Episode 8, where Saul and Mike Ehrmantraut (Jonathan Banks) are trapped in the desert carrying 7 million.
More than seven years after “Better Call Saul” began, and 13 years after Bob Odenkirk first popped up as the sleazy lawyer in “Breaking Bad,” his story has come to a close — and Saul is behind bars.
After a little United States v. Saul Goodman legal action, the now-reformed Jimmy McGill ended up with 86 years in prison as Walter White’s “indispensable” criminal lawyer. After going down a dark path the past few seasons, Saul finally turned a corner and confessed to all of his crimes, clearing Kim Wexler’s (Rhea Seehorn) name.
So how did we get to this (somewhat) happy ending, at least by “Breaking Bad” standards? The episode started with a flashback to “Better Call Saul” Season 5, Episode 8, where Saul and Mike Ehrmantraut (Jonathan Banks) are trapped in the desert carrying 7 million.
- 8/16/2022
- by Jordan Moreau
- Variety Film + TV
Better Call Saul has rested its case after six glorious seasons — and it made quite a closing statement.
Monday’s series finale begins with a flashback to Season 5’s “Bagman,” with Jimmy and Mike trudging through the sweltering desert heat and finally finding a water tank to drink from. As they rest, Jimmy suggests they run off with the seven million bucks they’re carrying and split it. Mike says no: “It’s not ours.” Jimmy says he’d take the money and build a time machine. Where would Mike time-travel to, he asks? “December 8th, 2001,” he replies first, presumably...
Monday’s series finale begins with a flashback to Season 5’s “Bagman,” with Jimmy and Mike trudging through the sweltering desert heat and finally finding a water tank to drink from. As they rest, Jimmy suggests they run off with the seven million bucks they’re carrying and split it. Mike says no: “It’s not ours.” Jimmy says he’d take the money and build a time machine. Where would Mike time-travel to, he asks? “December 8th, 2001,” he replies first, presumably...
- 8/16/2022
- by Dave Nemetz
- TVLine.com
Click here to read the full article.
Country superstar Dolly Parton, who made a big donation to help fund coronavirus vaccine research in 2020, is among this year’s Carnegie Medal of Philanthropy recipients.
Also being honored are Dallas entrepreneur Lyda Hill, Kenyan industrialist Manu Chandaria, and Lynn and Stacy Schusterman, from the Oklahoma investment family.
The award, presented by the international family of Carnegie institutions to honor innovative philanthropists, debuted in 2001 and is normally awarded every two years. It was not issued in 2021 due to the pandemic.
The 2022 honorees will receive their medals in a private ceremony in New York on Oct. 13. A priority of the ceremony is fostering personal meetings to encourage the exchange of ideas and spur potential collaboration — something this year’s honorees have already done, said Eric Isaacs, president of the Carnegie Institution for Science and a member of the medal selection committee.
Parton’s 1 million...
Country superstar Dolly Parton, who made a big donation to help fund coronavirus vaccine research in 2020, is among this year’s Carnegie Medal of Philanthropy recipients.
Also being honored are Dallas entrepreneur Lyda Hill, Kenyan industrialist Manu Chandaria, and Lynn and Stacy Schusterman, from the Oklahoma investment family.
The award, presented by the international family of Carnegie institutions to honor innovative philanthropists, debuted in 2001 and is normally awarded every two years. It was not issued in 2021 due to the pandemic.
The 2022 honorees will receive their medals in a private ceremony in New York on Oct. 13. A priority of the ceremony is fostering personal meetings to encourage the exchange of ideas and spur potential collaboration — something this year’s honorees have already done, said Eric Isaacs, president of the Carnegie Institution for Science and a member of the medal selection committee.
Parton’s 1 million...
- 8/3/2022
- by the Associated Press
- The Hollywood Reporter - Movie News
Sun Valley, Idaho — As the sun is about to set on another Sun Valley conference, this year’s four-day Allen & Co. event has been notable for the low profile kept by the most high-wattage attendees, to the frustration of the business, media and tech sectors obsessed with the activity of billionaires and CEOs.
Before the moguls pack up and leave the exclusive Sun Valley Lodge — at least those who haven’t booked it to their private jets already, like Warner Bros. Discovery chief David Zaslav, who left Thursday night — Tesla boss and maybe-soon-to-be-Twitter-owner Elon Musk (who snuck in through the back entrance Thursday evening) will take the stage for the gathering’s big closing chat Saturday. That coveted slot has previously been given to other high-profile guests of honor, including Warren Buffett and Bill Gates, both of whom were back in attendance this year.
True to his affable form,...
Before the moguls pack up and leave the exclusive Sun Valley Lodge — at least those who haven’t booked it to their private jets already, like Warner Bros. Discovery chief David Zaslav, who left Thursday night — Tesla boss and maybe-soon-to-be-Twitter-owner Elon Musk (who snuck in through the back entrance Thursday evening) will take the stage for the gathering’s big closing chat Saturday. That coveted slot has previously been given to other high-profile guests of honor, including Warren Buffett and Bill Gates, both of whom were back in attendance this year.
True to his affable form,...
- 7/8/2022
- by Jennifer Maas
- Variety Film + TV
Wall Street analysts are reeling back their expectations for Paramount Global ahead of its Q2 earnings report next month, when several firms expect Paramount+ to report around 4 million net subscriber additions. Compare that with the mountain of subscribers, 6.8 million, Paramount+ added in Q1. And an industrywide advertising slump coupled with subscriber losses at other Paramount streaming services have led Guggenheim to lower its stock-price target for the second time this year.
But don’t think Wall Street is writing off Paramount, which has attracted renewed attention after “Top Gun: Maverick” became the year’s biggest box-office success story and Warren Buffett’s company bought a 2.6 billion stake in Paramount in May. Like Mav in the cockpit, Buffett has a history of knowing what he’s doing.
Paramount outperformed almost all its media peers this year, its stock is down 19.57 percent, bested only by Fox, which is down 11.92 percent. Compare that to Netflix,...
But don’t think Wall Street is writing off Paramount, which has attracted renewed attention after “Top Gun: Maverick” became the year’s biggest box-office success story and Warren Buffett’s company bought a 2.6 billion stake in Paramount in May. Like Mav in the cockpit, Buffett has a history of knowing what he’s doing.
Paramount outperformed almost all its media peers this year, its stock is down 19.57 percent, bested only by Fox, which is down 11.92 percent. Compare that to Netflix,...
- 7/8/2022
- by Chris Lindahl
- Indiewire
Click here to read the full article.
Guggenheim analyst Michael Morris still rates Paramount Global a “Buy,” but has also lowered his stock price target, again, and forecasts slowing revenue growth for the entertainment conglomerate’s streaming subscriber count and advertising sales.
The Hollywood studio, receiving investor attention after billionaire investor Warren Buffett bought into Paramount Global in May, faces “more modest direct-to-consumer subscriber pacing, advertising trend expectations,” Morris said in a July 6 investor note that trimmed second revenue expectations.
While raising performance estimates for Paramount Global’s film division on Tom Cruise’s Top Gun: Maverick release, the Guggenheim forecast of slower growth in signing up streaming subscribers and advertising sales is a headwind considering the studio is pursuing both budget and premium customers with its free, ad-supported Pluto TV streamer and paid Paramount+ subscription video on-demand platform.
“We have lowered our 2Q advertising outlook at the TV Media and Dtc (direct-to-consumer) segments,...
Guggenheim analyst Michael Morris still rates Paramount Global a “Buy,” but has also lowered his stock price target, again, and forecasts slowing revenue growth for the entertainment conglomerate’s streaming subscriber count and advertising sales.
The Hollywood studio, receiving investor attention after billionaire investor Warren Buffett bought into Paramount Global in May, faces “more modest direct-to-consumer subscriber pacing, advertising trend expectations,” Morris said in a July 6 investor note that trimmed second revenue expectations.
While raising performance estimates for Paramount Global’s film division on Tom Cruise’s Top Gun: Maverick release, the Guggenheim forecast of slower growth in signing up streaming subscribers and advertising sales is a headwind considering the studio is pursuing both budget and premium customers with its free, ad-supported Pluto TV streamer and paid Paramount+ subscription video on-demand platform.
“We have lowered our 2Q advertising outlook at the TV Media and Dtc (direct-to-consumer) segments,...
- 7/6/2022
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Sun Valley, Idaho — The moguls have arrived.
On Tuesday, dozens of titans of the business, media and tech worlds came out to play at the Sun Valley Lodge in Idaho for the start of Allen & Co.’s annual meeting of movers and shakers.
The invitation-only conference will include three days of seminars and meetings that are held away from the prying eyes of the public, which kick off Wednesday morning. So today was all about meeting and greeting each other at the posh retreat in Idaho’s picturesque Sawtooth Mountains.
Arrivals began at the Sun Valley Lodge around 11 a.m. local time, with CNN’s Anderson Cooper, Comcast chief Brian Roberts, Imagine’s Brian Grazer, Walmart CEO Doug McMillon, NBCUniversal chief Jeff Shell, Paramount Global chairman Shari Redstone and investor Jeffrey Katzenberg among the first to check in, receive their agenda briefing books and strap on a mask before receiving a Covid test.
On Tuesday, dozens of titans of the business, media and tech worlds came out to play at the Sun Valley Lodge in Idaho for the start of Allen & Co.’s annual meeting of movers and shakers.
The invitation-only conference will include three days of seminars and meetings that are held away from the prying eyes of the public, which kick off Wednesday morning. So today was all about meeting and greeting each other at the posh retreat in Idaho’s picturesque Sawtooth Mountains.
Arrivals began at the Sun Valley Lodge around 11 a.m. local time, with CNN’s Anderson Cooper, Comcast chief Brian Roberts, Imagine’s Brian Grazer, Walmart CEO Doug McMillon, NBCUniversal chief Jeff Shell, Paramount Global chairman Shari Redstone and investor Jeffrey Katzenberg among the first to check in, receive their agenda briefing books and strap on a mask before receiving a Covid test.
- 7/6/2022
- by Jennifer Maas
- Variety Film + TV
Paramount+ has unveiled its U.K.-commissioned factual slate ahead of the streaming platform’s U.K. and Ireland launch on June 22.
“Our mission is to make Paramount+ the leading destination for unmissable television in collaboration with the U.K.’s storytelling talent,” said Ben Frow, Paramount’s chief content officer for the U.K. “These new commissions will join an abundance of original content on the service, as well as the pick of Paramount’s vast catalogue to create a compelling offering for viewers in the U.K. and Ireland.”
The new titles include:
“Hot Yachts” from Curve Media
A six-episode series set in South Florida taking viewers into the world of luxury yachts as a team of attractive and hard-partying yacht brokers seek to outdo each other. “Get ready for big characters, insane parties, huge deals and the ultimate Instagram lifestyle in this brand-new reality series,” reads the logline.
“Our mission is to make Paramount+ the leading destination for unmissable television in collaboration with the U.K.’s storytelling talent,” said Ben Frow, Paramount’s chief content officer for the U.K. “These new commissions will join an abundance of original content on the service, as well as the pick of Paramount’s vast catalogue to create a compelling offering for viewers in the U.K. and Ireland.”
The new titles include:
“Hot Yachts” from Curve Media
A six-episode series set in South Florida taking viewers into the world of luxury yachts as a team of attractive and hard-partying yacht brokers seek to outdo each other. “Get ready for big characters, insane parties, huge deals and the ultimate Instagram lifestyle in this brand-new reality series,” reads the logline.
- 6/21/2022
- by K.J. Yossman
- Variety Film + TV
Click here to read the full article.
Paramount Global has “what it takes to succeed,” including enough scale, and is pursuing a “disciplined approach to content creation,” non-executive chair Shari Redstone said at the entertainment conglomerate’s annual shareholder meeting on Wednesday.
“The past year has been one of growth and success,” she said at the event, which was webcast and was the first such gathering since the company’s name change in February. Among other things, the company managed to “maximize the power of our content, accelerate our momentum in streaming and deliver quarter after quarter of strong results.”
The company’s name change came in recognition of the “great progress” made since the Viacom-cbs merger and also symbolizes that the firm was “embracing our exciting future,” Redstone said. She also touted the “disciplined approach to content creation” and diversified revenue streams of Paramount, across free and pay models.
Paramount Global has “what it takes to succeed,” including enough scale, and is pursuing a “disciplined approach to content creation,” non-executive chair Shari Redstone said at the entertainment conglomerate’s annual shareholder meeting on Wednesday.
“The past year has been one of growth and success,” she said at the event, which was webcast and was the first such gathering since the company’s name change in February. Among other things, the company managed to “maximize the power of our content, accelerate our momentum in streaming and deliver quarter after quarter of strong results.”
The company’s name change came in recognition of the “great progress” made since the Viacom-cbs merger and also symbolizes that the firm was “embracing our exciting future,” Redstone said. She also touted the “disciplined approach to content creation” and diversified revenue streams of Paramount, across free and pay models.
- 6/8/2022
- by Georg Szalai
- The Hollywood Reporter - Movie News
Warren Buffett’s recent 2.6 billion purchase of Paramount Global/Paramount+ stock rounds out his streaming portfolio — which already includes Apple TV+ and Amazon Prime Video — and shows that despite recent disappointing quarterly earnings reports and stock declines for most entertainment companies, streaming is still the business to be in. This past cycle of quarterly earnings placed a new emphasis on the health of the streaming business after Netflix reported its first loss in subscribers in more than a decade. Other companies’ lackluster Q1 earnings were delivered with vows to curtail their extravagant levels of content spending and plans to introduce ad-supported tiers for price-conscious consumers. Wall Street analysts are fearing a coming recession and the stock market has reflected those fears. Even though Disney most recently reported a nearly 8 million increase in subscribers for Disney+, the company’s stock has fallen nearly 44 from its high in the past year as of market close on Thursday.
- 5/27/2022
- by Sharon Knolle
- The Wrap
The strategy to license Yellowstone and other major properties to rival streaming services like Peacock and HBO Max, which Paramount Global CEO Bob Bakish has called “unfortunate,” is out the window, according to CFO Naveen Chopra.
“We’re no longer licensing big, franchise IP to third parties. Back in the day when Paramount didn’t have its own streaming service, that was the best way to monetize content,” Chopra said during an appearance today at MoffettNathanson’s 9th annual Media and Communications Summit. “Today, that doesn’t necessarily make sense. As some of those things come up, we’ll keep them for our owned and operated platform.”
Moderator Michael Nathanson cited heavy viewing on Netflix of Paramount shows like NCIS, wondering if that demand would persuade the company to continue selling off those rights. In answering, Chopra didn’t bring up any specific shows. He joined the company, then known as ViacomCBS,...
“We’re no longer licensing big, franchise IP to third parties. Back in the day when Paramount didn’t have its own streaming service, that was the best way to monetize content,” Chopra said during an appearance today at MoffettNathanson’s 9th annual Media and Communications Summit. “Today, that doesn’t necessarily make sense. As some of those things come up, we’ll keep them for our owned and operated platform.”
Moderator Michael Nathanson cited heavy viewing on Netflix of Paramount shows like NCIS, wondering if that demand would persuade the company to continue selling off those rights. In answering, Chopra didn’t bring up any specific shows. He joined the company, then known as ViacomCBS,...
- 5/19/2022
- by Dade Hayes
- Deadline Film + TV
Media shares felt the pain as markets swooned Wednesday with glum earnings and outlooks from major retailers reflecting broader economic woes.
Target and Walmart, usually considered safe stocks, reported a big hit from higher transportation costs as gas prices soar, without any relief in sight. It’s hard for them to pass higher costs on to consumers who already are spending less on anything beyond groceries.
The S&P fell 4 — it’s worst slide since June 2020. The Dow plunged more than 1,100 points, and the Nasdaq lost 4.7.
Investors have been thoroughly spooked by soaring inflation that the Fed is trying to contain by raising interest rates and by the Russia-Ukraine war that’s slogging on. Federal Reserve chief Jerome Powell told the WSJ that there could be “some pain involved in restoring price stability.” This is part of it.
Among media shares, with companies in the midst of a week of upfront presentations in NYC,...
Target and Walmart, usually considered safe stocks, reported a big hit from higher transportation costs as gas prices soar, without any relief in sight. It’s hard for them to pass higher costs on to consumers who already are spending less on anything beyond groceries.
The S&P fell 4 — it’s worst slide since June 2020. The Dow plunged more than 1,100 points, and the Nasdaq lost 4.7.
Investors have been thoroughly spooked by soaring inflation that the Fed is trying to contain by raising interest rates and by the Russia-Ukraine war that’s slogging on. Federal Reserve chief Jerome Powell told the WSJ that there could be “some pain involved in restoring price stability.” This is part of it.
Among media shares, with companies in the midst of a week of upfront presentations in NYC,...
- 5/18/2022
- by Jill Goldsmith
- Deadline Film + TV
Updated with closing price: Shares of Paramount Global shot up more than 15 to close at 32.32 Tuesday after Berkshire Hathaway, the company of legendary investor Warren Buffett, disclosed late yesterday that it acquired a chunky stake in the company.
The shares, among the best performers, opened up 10 — following a 1 dip yesterday. They’re still well off a 52-week high of 47 but pulling away from a year low of 26.
Berkshire bought almost 69 million shares of Paramount Global during the first quarter, it said in an SEC filing, along with a 2.9 billion stake in giant Citigroup. It also took or boosted positions in Activision Blizzard and Apple as well as Ally Financial, Markel, McKesson, Celanese, Occidental Petroleum and Chevron. Overall, the investing giant acquired 51 billion worth of stocks during the first quarter of the year.
The SEC requires institutional investors that manage more than 100 million to disclose equity holdings within 45 days after a quarter ends.
The shares, among the best performers, opened up 10 — following a 1 dip yesterday. They’re still well off a 52-week high of 47 but pulling away from a year low of 26.
Berkshire bought almost 69 million shares of Paramount Global during the first quarter, it said in an SEC filing, along with a 2.9 billion stake in giant Citigroup. It also took or boosted positions in Activision Blizzard and Apple as well as Ally Financial, Markel, McKesson, Celanese, Occidental Petroleum and Chevron. Overall, the investing giant acquired 51 billion worth of stocks during the first quarter of the year.
The SEC requires institutional investors that manage more than 100 million to disclose equity holdings within 45 days after a quarter ends.
- 5/17/2022
- by Jill Goldsmith
- Deadline Film + TV
Paramount Global’s stock price shot up more than 10 in early trading Tuesday following the news that Warren Buffett’s Berkshire Hathaway has scooped up more than 2 billion worth of shares in the company in recent months.
Paramount stock opened Tuesday at 28.47 after closing Monday at 28.02, before Berkshire Hathaway’s stock purchases were disclosed in a Securities and Exchange Commission filing.
Berkshire Hathaway has been in an investor in one of Paramount’s predecessor companies, Viacom, in the not-too-distant past. Buffett’s purchases of late suggest that he sees the company as under-valued, or that he expects the company to be involved in M&a.
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Paramount Global, which changed its corporate moniker from ViacomCBS earlier this year, has struggled with the conventional wisdom that the company is too small to...
Paramount stock opened Tuesday at 28.47 after closing Monday at 28.02, before Berkshire Hathaway’s stock purchases were disclosed in a Securities and Exchange Commission filing.
Berkshire Hathaway has been in an investor in one of Paramount’s predecessor companies, Viacom, in the not-too-distant past. Buffett’s purchases of late suggest that he sees the company as under-valued, or that he expects the company to be involved in M&a.
Click Here to subscribe to Variety’s free Strictly Business newsletter covering media earnings, financial and investment news and more.
Paramount Global, which changed its corporate moniker from ViacomCBS earlier this year, has struggled with the conventional wisdom that the company is too small to...
- 5/17/2022
- by Cynthia Littleton
- Variety Film + TV
Warren Buffett’s Berkshire Hathaway invested about 2.6 billion in Paramount Global during the first quarter of 2022, according to a Securites and Exchange Commission filing that disclosed the quarterly stock trading activity of his Berkshire Hathaway holding company.
The 91-year-old Buffett, who serves as the owner and CEO of Berkshire Hathaway, has garnered the reputation of a value investor over his career, picking up shares in companies that he believes are undervalued or misunderstood by the markets.
His investment in Paramount Global bodes well for the entertainment company as it continues to gain steam in Hollywood’s ongoing streaming wars, using its growing service Paramount+ to compete against Disney, Warner Bros. Discovery, NBCUniversal, Netflix, Apple and more in the digital space. Along with operating Paramount+, Paramount Global also owns CBS, Comedy Central, MTV, Nickelodeon and Showtime.
As of Monday, Paramount Global’s total market cap stands at 18.3 billion, meaning Buffett’s...
The 91-year-old Buffett, who serves as the owner and CEO of Berkshire Hathaway, has garnered the reputation of a value investor over his career, picking up shares in companies that he believes are undervalued or misunderstood by the markets.
His investment in Paramount Global bodes well for the entertainment company as it continues to gain steam in Hollywood’s ongoing streaming wars, using its growing service Paramount+ to compete against Disney, Warner Bros. Discovery, NBCUniversal, Netflix, Apple and more in the digital space. Along with operating Paramount+, Paramount Global also owns CBS, Comedy Central, MTV, Nickelodeon and Showtime.
As of Monday, Paramount Global’s total market cap stands at 18.3 billion, meaning Buffett’s...
- 5/17/2022
- by J. Kim Murphy and Cynthia Littleton
- Variety Film + TV
Warren Buffett’s Berkshire Hathaway reported Monday in a securities filing that it has acquired a stake in Paramount Global after acquiring 2.6 billion in Class B shares.
The SEC Form 13F filing showed that Buffett’s company acquired almost 69 million shares of Paramount Global during the first quarter, along with revealing that it also took other stakes in companies like Citibank. Overall, the investing giant acquired 51 billion in stocks during the first three months of 2022.
Buffett, who also owns stakes in entertainment companies like Apple and Amazon, buys into Paramount Global, formerly ViacomCBS, after the company’s Q1 2022 results included subscriber gains in its flagship streaming service Paramount+ and Pluto, topping expectations. But Wall Street skepticism on the limits of streaming gains sector-wide has kept the stock in the red for the year.
Paramount Global stock remains fully majority controlled by Shari Redstone and the Redstone family’s National Amusements.
The SEC Form 13F filing showed that Buffett’s company acquired almost 69 million shares of Paramount Global during the first quarter, along with revealing that it also took other stakes in companies like Citibank. Overall, the investing giant acquired 51 billion in stocks during the first three months of 2022.
Buffett, who also owns stakes in entertainment companies like Apple and Amazon, buys into Paramount Global, formerly ViacomCBS, after the company’s Q1 2022 results included subscriber gains in its flagship streaming service Paramount+ and Pluto, topping expectations. But Wall Street skepticism on the limits of streaming gains sector-wide has kept the stock in the red for the year.
Paramount Global stock remains fully majority controlled by Shari Redstone and the Redstone family’s National Amusements.
- 5/17/2022
- by Patrick Hipes
- Deadline Film + TV
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