Amazon is doubling down on its Alex Cross series.
The tech giant’s Prime Video streaming platform has ordered a second season of Cross, a drama starring Aldis Hodge and based on James Patterson’s best-selling novel series about a detective and forensic psychologist who delves into the minds of killers in order to catch them. The renewal comes ahead of the show’s debut — a date for which hasn’t been set.
Additionally, Wes Chatham, Matthew Lillard and Jeanine Mason are set to join the cast for the second season. Ryan Eggold, Isaiah Mustafa, Alona Tal, Johnny Ray Gill, Eloise Mumford and Siobhan Murphy star with Hodge in season one.
Prime Video declined to comment.
Cross landed a series order at Prime Video in October 2022 after more than two years in development. The show comes from Paramount Television Studios and Skydance Television, which also produce Prime Video’s Reacher...
The tech giant’s Prime Video streaming platform has ordered a second season of Cross, a drama starring Aldis Hodge and based on James Patterson’s best-selling novel series about a detective and forensic psychologist who delves into the minds of killers in order to catch them. The renewal comes ahead of the show’s debut — a date for which hasn’t been set.
Additionally, Wes Chatham, Matthew Lillard and Jeanine Mason are set to join the cast for the second season. Ryan Eggold, Isaiah Mustafa, Alona Tal, Johnny Ray Gill, Eloise Mumford and Siobhan Murphy star with Hodge in season one.
Prime Video declined to comment.
Cross landed a series order at Prime Video in October 2022 after more than two years in development. The show comes from Paramount Television Studios and Skydance Television, which also produce Prime Video’s Reacher...
- 4/30/2024
- by Rick Porter
- The Hollywood Reporter - Movie News
Amazon Prime Video’s upcoming series based on James Patterson’s Alex Cross novels is being renewed for Season 2, Variety has learned from sources.
The show, which stars Aldis Hodge as Cross, has yet to debut its first season or even set a premiere date. But according to sources, Amazon was impressed enough with what they have seen from the first season to greenlight the second and begin casting. Jeanine Mason has reportedly already been cast in Season 2.
Reps for Amazon declined to comment.
If “Cross” proves to be popular, it would be the latest successful Amazon series based on a long-running novel character. The company found themselves with a massive hit on their hands courtesy of “Reacher” starring Alan Ritchson, based on the Jack Reacher novels written by Lee Child. Likewise, Amazon’s longest-running series to date was the cop drama “Bosch,” based on the Harry Bosch novels written by Michael Connelly.
The show, which stars Aldis Hodge as Cross, has yet to debut its first season or even set a premiere date. But according to sources, Amazon was impressed enough with what they have seen from the first season to greenlight the second and begin casting. Jeanine Mason has reportedly already been cast in Season 2.
Reps for Amazon declined to comment.
If “Cross” proves to be popular, it would be the latest successful Amazon series based on a long-running novel character. The company found themselves with a massive hit on their hands courtesy of “Reacher” starring Alan Ritchson, based on the Jack Reacher novels written by Lee Child. Likewise, Amazon’s longest-running series to date was the cop drama “Bosch,” based on the Harry Bosch novels written by Michael Connelly.
- 4/30/2024
- by Joe Otterson
- Variety Film + TV
The board room and executive suite drama at Paramount Global escalated on Monday, with Bob Bakish leaving his role as CEO and a trio of executives taking over just days before an exclusive negotiating window for a sale to David Ellison’s SkyDance Media and partners closes.
Veteran company leaders Chris McCarthy, George Cheeks and Brian Robbins will make up an “Office of the CEO,” running Paramount on a day-to-day basis for now. The three will work with the Paramount board and CFO Naveen Chopra.
“We’re finalizing a long-term strategic plan to best position this storied company to reach new and greater heights in our rapidly changing world,” McCarthy told a conference call following Paramount’s first-quarter earnings report after the market close on Monday that lasted just nine minutes and didn’t allow for analysts’ questions. As of 11:15 a.m. Et on Tuesday, Paramount shares were down 4.3 percent,...
Veteran company leaders Chris McCarthy, George Cheeks and Brian Robbins will make up an “Office of the CEO,” running Paramount on a day-to-day basis for now. The three will work with the Paramount board and CFO Naveen Chopra.
“We’re finalizing a long-term strategic plan to best position this storied company to reach new and greater heights in our rapidly changing world,” McCarthy told a conference call following Paramount’s first-quarter earnings report after the market close on Monday that lasted just nine minutes and didn’t allow for analysts’ questions. As of 11:15 a.m. Et on Tuesday, Paramount shares were down 4.3 percent,...
- 4/30/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
Apple TV+ has announced the premiere date for first installment of its upcoming animated adventure trilogy WondLa, hailing from Skydance Animation and based on the New York Times bestselling book series The Search for WondLa by Tony Diterlizzi.
Showrun and executive produced by Bobs Gannaway, the seven-episode first season of WondLa will premiere globally on Apple TV+ on Friday, June 28.
WondLa centers around Eva, voiced by Jeanine Mason, a curious, enthusiastic and spirited teenager being raised in a state-of-the-art underground bunker by Muthr, a robot caretaker, voiced by Emmy Award nominee Teri Hatcher (Desperate Housewives).
On her 16th birthday, an attack on Eva’s bunker forces her onto the Earth’s surface which is now inhabited by aliens, covered with other-worldly fauna, and no other humans to be found. In fact, it’s no longer called Earth but Orbona.
Otto, a loveable giant water bear with whom Eva shares telepathic...
Showrun and executive produced by Bobs Gannaway, the seven-episode first season of WondLa will premiere globally on Apple TV+ on Friday, June 28.
WondLa centers around Eva, voiced by Jeanine Mason, a curious, enthusiastic and spirited teenager being raised in a state-of-the-art underground bunker by Muthr, a robot caretaker, voiced by Emmy Award nominee Teri Hatcher (Desperate Housewives).
On her 16th birthday, an attack on Eva’s bunker forces her onto the Earth’s surface which is now inhabited by aliens, covered with other-worldly fauna, and no other humans to be found. In fact, it’s no longer called Earth but Orbona.
Otto, a loveable giant water bear with whom Eva shares telepathic...
- 4/30/2024
- by Mirko Parlevliet
- Vital Thrills
Paramount Global’s ouster of CEO Bob Bakish did not reassure investors that there’s a favorable exit in store for the media conglomerate.
Shares of the company were down more than 4% in trading Tuesday morning to under $12/share, after Bakish’s exit was officially announced and he was replaced by three senior execs tasked with running Paramount Global — for now, anyway.
Wall Street analysts said the dismissal of Bakish, who was said to oppose Paramount Global’s prospective merger with David Ellison’s Skydance Media, along with the company’s refusal to take questions during its first-quarter 2024 earnings call Monday was evidence that an M&a deal is nearing. Paramount’s Q1 results were decent, as the company boosted Paramount+ streaming subs to more than 71 million and significantly narrowed streaming losses, while its TV group saw revenue up 1% thanks largely to the Super Bowl on CBS. But the financial results...
Shares of the company were down more than 4% in trading Tuesday morning to under $12/share, after Bakish’s exit was officially announced and he was replaced by three senior execs tasked with running Paramount Global — for now, anyway.
Wall Street analysts said the dismissal of Bakish, who was said to oppose Paramount Global’s prospective merger with David Ellison’s Skydance Media, along with the company’s refusal to take questions during its first-quarter 2024 earnings call Monday was evidence that an M&a deal is nearing. Paramount’s Q1 results were decent, as the company boosted Paramount+ streaming subs to more than 71 million and significantly narrowed streaming losses, while its TV group saw revenue up 1% thanks largely to the Super Bowl on CBS. But the financial results...
- 4/30/2024
- by Todd Spangler
- Variety Film + TV
The three Paramount Global executives installed to run the company after Bob Bakish was removed as CEO sought to reassure employees that they have a long-term strategy.
On Monday, Paramount Global said Bakish was stepping down as CEO and leaving the board. In his place, the company established an “Office of the CEO” committee led by three divisional heads: 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.
The shake-up added further fuel to the uncertainty about the media conglomerate’s future. Bakish’s exit came as the Paramount Global board and controlling shareholder Shari Redstone were working to close a deal to merge Paramount with David Ellison’s Skydance Media.
The three new heads of Paramount Global’s Office of the CEO sent a memo to staff after the news was announced.
On Monday, Paramount Global said Bakish was stepping down as CEO and leaving the board. In his place, the company established an “Office of the CEO” committee led by three divisional heads: 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.
The shake-up added further fuel to the uncertainty about the media conglomerate’s future. Bakish’s exit came as the Paramount Global board and controlling shareholder Shari Redstone were working to close a deal to merge Paramount with David Ellison’s Skydance Media.
The three new heads of Paramount Global’s Office of the CEO sent a memo to staff after the news was announced.
- 4/29/2024
- by Todd Spangler
- Variety Film + TV
In a memo to employees Monday, Chris McCarthy, George Cheeks and Brian Robbins — who are together running Paramount after the ouster of CEO Bob Bakish — thanked Bakish for his tenure at the company, while signaling a new strategy ahead.
Paramount announced Bakish was out at the company Monday, just ahead of releasing first-quarter earnings, with McCarthy, Cheeks and Robbins making up the “Office of the CEO” upon his ouster. The three executives will work with the Paramount board and CFO Naveen Chopra.
“We’d like to thank Shari and the Board for putting their trust in us. This new structure will allow us to continue leveraging the power of the entire company. Ours is a partnership built on respect, camaraderie and, most importantly, a shared love of Paramount Global, its employees and our world-class content,” the memo reads.
The company did not take any questions during the earnings call Monday,...
Paramount announced Bakish was out at the company Monday, just ahead of releasing first-quarter earnings, with McCarthy, Cheeks and Robbins making up the “Office of the CEO” upon his ouster. The three executives will work with the Paramount board and CFO Naveen Chopra.
“We’d like to thank Shari and the Board for putting their trust in us. This new structure will allow us to continue leveraging the power of the entire company. Ours is a partnership built on respect, camaraderie and, most importantly, a shared love of Paramount Global, its employees and our world-class content,” the memo reads.
The company did not take any questions during the earnings call Monday,...
- 4/29/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Paramount Global revenue in the first quarter climbed 6% year-on-year as Paramount+ added 3.7m subscriptions to reach 71m-plus and the streaming business cut losses by more than 40%.
Less than 30 minutes after the company announced the departure of CEO Bob Bakish and the establishment of a new leadership triumvirate comprising divisional heads George Cheeks, Chris McCarthy, and Brian Robbins, the trio led a whistlestop earnings call before signing off to the strains of Mission: Impossible without taking analysts’ questions.
Overall revenue for the period ending March 31 climbed 6% year-on-year from $7.4bn to $7.7bn, while operating loss improved 66% from $1.2bn to $417m.
Streaming losses...
Less than 30 minutes after the company announced the departure of CEO Bob Bakish and the establishment of a new leadership triumvirate comprising divisional heads George Cheeks, Chris McCarthy, and Brian Robbins, the trio led a whistlestop earnings call before signing off to the strains of Mission: Impossible without taking analysts’ questions.
Overall revenue for the period ending March 31 climbed 6% year-on-year from $7.4bn to $7.7bn, while operating loss improved 66% from $1.2bn to $417m.
Streaming losses...
- 4/29/2024
- ScreenDaily
Paramount Global revenue in the first quarter climbed 6% year-on-year as Paramount+ added 3.7m subscriptions to reach 71m-plus and the streaming business cut losses by more than 40%.
Less than 30 minutes after the company announced the departure of CEO Bob Bakish and the establishment of a new leadership triumvirate comprising divisional heads George Cheeks, Chris McCarthy, and Brian Robbins, the trio led a whistlestop earnings call before signing off to the strains of Mission: Impossible without taking analysts’ questions.
Overall revenue for the period ending March 31 climbed 6% year-on-year from $7.4bn to $7.7bn, while operating loss improved 66% from $1.2bn to $417m.
Streaming losses...
Less than 30 minutes after the company announced the departure of CEO Bob Bakish and the establishment of a new leadership triumvirate comprising divisional heads George Cheeks, Chris McCarthy, and Brian Robbins, the trio led a whistlestop earnings call before signing off to the strains of Mission: Impossible without taking analysts’ questions.
Overall revenue for the period ending March 31 climbed 6% year-on-year from $7.4bn to $7.7bn, while operating loss improved 66% from $1.2bn to $417m.
Streaming losses...
- 4/29/2024
- ScreenDaily
As a buyer group led by David Ellison’s Skydance Media aims to iron out a potential deal to take over Paramount Global, many eyes on Wall Street are also watching carriage talks between the entertainment conglomerate and cable giant Charter Communications. On April 30, that deal expires.
Last year, Charter played hardball with Disney in a negotiating showdown that led to a brief blackout last fall before the companies struck a broad carriage deal covering traditional pay TV networks and streaming services, which finance experts called a blueprint for future sector agreements and a potential “tipping point” in the relationship between content and distribution giants.
Depending if, when, how, and what Charter and Paramount agree on in a new pact could affect the value of Paramount and therefore its takeover price target and its strategic positioning for the future. It’s no surprise then that industry observers have their eyes...
Last year, Charter played hardball with Disney in a negotiating showdown that led to a brief blackout last fall before the companies struck a broad carriage deal covering traditional pay TV networks and streaming services, which finance experts called a blueprint for future sector agreements and a potential “tipping point” in the relationship between content and distribution giants.
Depending if, when, how, and what Charter and Paramount agree on in a new pact could affect the value of Paramount and therefore its takeover price target and its strategic positioning for the future. It’s no surprise then that industry observers have their eyes...
- 4/29/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
George Cheeks, Brian Robbins and Chris McCarthy, the Paramount Global executives chosen to occupy the Office of the CEO as a replacement for the departing Bob Bakish, sought to reassure Wall Street on Monday that they have a plan.
The remarks, which took up just two minutes at the start of Paramount’s first-quarter earnings call, featured short comments from each exec, with the trio being played off by the Mission: Impossible theme. Cheeks began by thanking Bakish for his leadership.
“Paramount Global has the greatest content in the world,” he continued. “We’ve got incredible assets at this company.”
Equally as important, McCarthy said, is the fact that the three execs stepping in for Bakish are well-acquainted with each other. “We’re true partners,” he said, with a “deep respect for each other.”
The company is finalizing a long-term strategic plan, McCarthy added, built on three pillars: optimizing hit content,...
The remarks, which took up just two minutes at the start of Paramount’s first-quarter earnings call, featured short comments from each exec, with the trio being played off by the Mission: Impossible theme. Cheeks began by thanking Bakish for his leadership.
“Paramount Global has the greatest content in the world,” he continued. “We’ve got incredible assets at this company.”
Equally as important, McCarthy said, is the fact that the three execs stepping in for Bakish are well-acquainted with each other. “We’re true partners,” he said, with a “deep respect for each other.”
The company is finalizing a long-term strategic plan, McCarthy added, built on three pillars: optimizing hit content,...
- 4/29/2024
- by Dade Hayes
- Deadline Film + TV
Paramount has just unleashed its first quarter financials and they look pretty promising, although all eyes are on the shakeup in the C-suite. Revenue was higher across the board, albeit a hair shy of Wall Street expectations. Operating losses narrowed. Free cash flow rose, a key metric since it allows the company to pay down debt.
After a bleak Q4, TV and media group advertising jumped 14%, buoyed by Super Bowl Xviii on CBS in February. The studio had two winners in Mean Girls and Bob Marley: One Love. Paramount+ ended the quarter with more than 71 million subscribers, beating expectations and up from 65.7 million at the end of 2023.
The number hit just after the company confirmed that CEO Bob Bakish is departing, replaced with three division heads in a new office of the CEO amid drama-filled takeover talks with David Ellison’s Skydance.
In Bakish’ absence, CFO Naveen Chopra delivered the...
After a bleak Q4, TV and media group advertising jumped 14%, buoyed by Super Bowl Xviii on CBS in February. The studio had two winners in Mean Girls and Bob Marley: One Love. Paramount+ ended the quarter with more than 71 million subscribers, beating expectations and up from 65.7 million at the end of 2023.
The number hit just after the company confirmed that CEO Bob Bakish is departing, replaced with three division heads in a new office of the CEO amid drama-filled takeover talks with David Ellison’s Skydance.
In Bakish’ absence, CFO Naveen Chopra delivered the...
- 4/29/2024
- by Jill Goldsmith
- Deadline Film + TV
Paramount Global unveiled its first-quarter financial results Monday as controlling shareholder National Amusements, led by Shari Redstone, is in exclusive sale negotiations with a group led by David Ellison’s Skydance, as well as Gerry Cardinale’s RedBird Capital and Kkr.
During the latest quarter, the company hit 71 million Paramount+ streaming subscribers worldwide, up from 67.5 million Paramount+ customers at the end of its fourth quarter, with 3.7 million customers added during the past three months.
And the studio shrunk its streaming loss to $286 million for the first quarter, an improvement over a $511 million loss in Q1 2023. Direct-to-consumer revenue rose 24 percent to $1.87 billion, as advertising and subscription revenues were both up, driven by growth from Pluto TV and Paramount+.
Elsewhere, TV media revenue rose 1 percent to $5.2 billion and filmed entertainment revenue rose 3 percent to $605 million, driven by business from Mean Girls and Bob Marley: One Love.
Paramount’s latest earnings were released...
During the latest quarter, the company hit 71 million Paramount+ streaming subscribers worldwide, up from 67.5 million Paramount+ customers at the end of its fourth quarter, with 3.7 million customers added during the past three months.
And the studio shrunk its streaming loss to $286 million for the first quarter, an improvement over a $511 million loss in Q1 2023. Direct-to-consumer revenue rose 24 percent to $1.87 billion, as advertising and subscription revenues were both up, driven by growth from Pluto TV and Paramount+.
Elsewhere, TV media revenue rose 1 percent to $5.2 billion and filmed entertainment revenue rose 3 percent to $605 million, driven by business from Mean Girls and Bob Marley: One Love.
Paramount’s latest earnings were released...
- 4/29/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Paramount Global CEO Bob Bakish is out as the company unveiled a triumvirate leadership team shortly before its Q1 earnings report on Monday, amid ongoing uncertainty over who will eventually own the company.
Paramount Global has established an Office of the CEO comprising 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.
It is understood Bakish, who has worked with controlling shareholder Shari Redstone for more than 25 years since he joined Viacom in 1997, did not favour the bid...
Paramount Global has established an Office of the CEO comprising 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.
It is understood Bakish, who has worked with controlling shareholder Shari Redstone for more than 25 years since he joined Viacom in 1997, did not favour the bid...
- 4/29/2024
- ScreenDaily
In a shocking move that is shocking nobody this afternoon, Paramount Global President and CEO Bob Bakish is out. In are his (hopefully) crack replacement team. The “Office of the CEO” gang consists of Paramount Pictures and Nickelodeon CEO Brian Robbins, Showtime/MTV Entertainment Studios President and CEO Chris McCarthy, and CBS President and CEO George Cheeks.
Paramount Global reported its quarterly earnings on Monday, hence the timing. Company executives, those who remain at least, will host a conference call with Wall Street analysts (and the media listening in) at 4:30 p.m. Et.
“Paramount Global includes exceptional assets and we believe strongly in the future value creation potential of the Company,” Shari Redstone, the chair of Paramount’s board, said in a statement. “I have tremendous confidence in George, Chris, and Brian. They have both the ability to develop and execute on a new strategic plan and to work together as true partners.
Paramount Global reported its quarterly earnings on Monday, hence the timing. Company executives, those who remain at least, will host a conference call with Wall Street analysts (and the media listening in) at 4:30 p.m. Et.
“Paramount Global includes exceptional assets and we believe strongly in the future value creation potential of the Company,” Shari Redstone, the chair of Paramount’s board, said in a statement. “I have tremendous confidence in George, Chris, and Brian. They have both the ability to develop and execute on a new strategic plan and to work together as true partners.
- 4/29/2024
- by Tony Maglio
- Indiewire
It’s official: Bob Bakish is out as CEO of Paramount Global, the company announced Monday. The exec’s departure after nearly three decades at Paramount Global and predecessor Viacom comes as the media conglomerate’s board and controlling shareholder Shari Redstone are trying to lock down a deal to merge with Skydance Media.
Three of the company’s divisional heads will divvy up duties in the newly formed “Office of the CEO”: 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.
Word emerged over the weekend that Bakish was expected to exit the company imminently. Paramount Global said Bakish is “stepping down from his role as CEO” and from the board of directors. Bakish has agreed to remain employed with the company as a senior adviser from May 1 to Oct.
Three of the company’s divisional heads will divvy up duties in the newly formed “Office of the CEO”: 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.
Word emerged over the weekend that Bakish was expected to exit the company imminently. Paramount Global said Bakish is “stepping down from his role as CEO” and from the board of directors. Bakish has agreed to remain employed with the company as a senior adviser from May 1 to Oct.
- 4/29/2024
- by Todd Spangler
- Variety Film + TV
Paramount Global CEO Bob Bakish is officially out at the company.
The entertainment conglomerate — in the middle of a sales process — is turning to a handful of top executives to run the company.
Chris McCarthy, George Cheeks and Brian Robbins will make up an “Office of the CEO,” running Paramount on a day-to-day basis for now. The three executives will work with the Paramount board and CFO Naveen Chopra.
According to Paramount’s quarterly report, Bakish will officially step down on Tuesday, and has agreed to remain employed by the company through Oct. 31 as a “senior advisor.”
The dramatic change comes as Paramount is in the middle of an exclusive negotiating window with a potential buyer group consisting of David Ellison’s Skydance, RedBird Capital and Kkr, with talks circling a plan that would keep Paramount public but with Skydance and RedBird executives effectively running things and executing a new strategy.
The entertainment conglomerate — in the middle of a sales process — is turning to a handful of top executives to run the company.
Chris McCarthy, George Cheeks and Brian Robbins will make up an “Office of the CEO,” running Paramount on a day-to-day basis for now. The three executives will work with the Paramount board and CFO Naveen Chopra.
According to Paramount’s quarterly report, Bakish will officially step down on Tuesday, and has agreed to remain employed by the company through Oct. 31 as a “senior advisor.”
The dramatic change comes as Paramount is in the middle of an exclusive negotiating window with a potential buyer group consisting of David Ellison’s Skydance, RedBird Capital and Kkr, with talks circling a plan that would keep Paramount public but with Skydance and RedBird executives effectively running things and executing a new strategy.
- 4/29/2024
- by Alex Weprin and Georg Szalai
- The Hollywood Reporter - Movie News
Paramount Global’s CEO Bob Bakish is out. The executive who has been a presence at several iterations of the company since 1997 will exit, effective immediately. A triumvirate of division heads — Brian Robbins, George Cheeks and Chris McCarthy — will step in to lead the company for now in a new office of the CEO.
Robbins is president & CEO of Paramount Pictures & Nickelodeon and chief content officer, Movies and Kids & Family, Paramount+; Cheeks is president-ceo of CBS, and chief content officer, News and Sports, Paramount+; McCarthy is President & CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks.
The company said the “Office of the CEO is working with the Board to develop a comprehensive, long-range plan to accelerate growth and develop popular content, materially streamline operations, strengthen the balance sheet, and continue to optimize the streaming strategy. The Board has great confidence in the leaders comprising the Office of the CEO,...
Robbins is president & CEO of Paramount Pictures & Nickelodeon and chief content officer, Movies and Kids & Family, Paramount+; Cheeks is president-ceo of CBS, and chief content officer, News and Sports, Paramount+; McCarthy is President & CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks.
The company said the “Office of the CEO is working with the Board to develop a comprehensive, long-range plan to accelerate growth and develop popular content, materially streamline operations, strengthen the balance sheet, and continue to optimize the streaming strategy. The Board has great confidence in the leaders comprising the Office of the CEO,...
- 4/29/2024
- by Jill Goldsmith
- Deadline Film + TV
Three Paramount executives will take Bakish’s place until the question of Paramount’s ownership is determined.
It has been a tumultuous few months for Paramount Global as the venerated entertainment company has been regularly embroiled in rumors surrounding its ownership and, more recently, who will be in charge of the company. On Monday, some of those questions were answered as Paramount reported its first-quarter earnings for 2024. On the streaming front, the company’s flagship platform Paramount+ added 3.7 million customers worldwide during the first three months of the year to bring its global total to 71.2 million, up 18.67% year over year.
Key Details: Paramount+ saw 18.67% subscriber growth over the course of the past year. The streamer also boasted a 51% revenue jump year over year as well. CEO Bob Bakish stepped down from his post on Monday effective immediately and he will be replaced by a trio of executives while Paramount’s ownership is decided.
It has been a tumultuous few months for Paramount Global as the venerated entertainment company has been regularly embroiled in rumors surrounding its ownership and, more recently, who will be in charge of the company. On Monday, some of those questions were answered as Paramount reported its first-quarter earnings for 2024. On the streaming front, the company’s flagship platform Paramount+ added 3.7 million customers worldwide during the first three months of the year to bring its global total to 71.2 million, up 18.67% year over year.
Key Details: Paramount+ saw 18.67% subscriber growth over the course of the past year. The streamer also boasted a 51% revenue jump year over year as well. CEO Bob Bakish stepped down from his post on Monday effective immediately and he will be replaced by a trio of executives while Paramount’s ownership is decided.
- 4/29/2024
- by Matt Tamanini
- The Streamable
It’s the moment of truth or consequences for Paramount Global.
The entertainment giant, controlled by Shari Redstone via her family’s National Amusements holding company, is in the middle of arguably the most fateful week in its history, with critical business decisions set to collide.
On Sunday, the group of David Ellison’s Skydance, Gerry Cardinale’s RedBird Capital and Kkr submitted a “best and final” offer that would see them acquire National Amusements and merge Paramount with Skydance, infusing the company with fresh cash and installing a new leadership team.
The expanded deal also includes sweeteners to try and convince hesitant common stockholders to support the deal, a source tells The Hollywood Reporter.
The move arrives as the fate of Bob Bakish as CEO is hanging in the balance, hours before Paramount was due to report a key Q1 2024 earnings report, with Wall Street anxious to see how...
The entertainment giant, controlled by Shari Redstone via her family’s National Amusements holding company, is in the middle of arguably the most fateful week in its history, with critical business decisions set to collide.
On Sunday, the group of David Ellison’s Skydance, Gerry Cardinale’s RedBird Capital and Kkr submitted a “best and final” offer that would see them acquire National Amusements and merge Paramount with Skydance, infusing the company with fresh cash and installing a new leadership team.
The expanded deal also includes sweeteners to try and convince hesitant common stockholders to support the deal, a source tells The Hollywood Reporter.
The move arrives as the fate of Bob Bakish as CEO is hanging in the balance, hours before Paramount was due to report a key Q1 2024 earnings report, with Wall Street anxious to see how...
- 4/29/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Updated with details of revised Skydance offer: Deadline has learned that Skydance’s offer for Paramount, said to be its last and final, includes a sweetened $3 billion cash in injection — up by at least $1 billion contemplated previously. That’s key as a priority is Paramount holding enough cash on its balance sheet for an investment grade status with big ratings agencies.
The deal also includes a premium sweetener for a percentage of non-voting Class B shares, although details of that aren’t clear. Shari Redstone would take an unspecified haircut compared with the initial deal terms, below. Paramount’s all stock acquisition of Skydance, planned as a second step in the transaction, wouldn’t change, with a value remaining at about $5 billion.
It’s not clear what happens to the few other Class A shareholders beyond Redstone, but most, like Mario Gabelli, also hold B shares. Class A share have...
The deal also includes a premium sweetener for a percentage of non-voting Class B shares, although details of that aren’t clear. Shari Redstone would take an unspecified haircut compared with the initial deal terms, below. Paramount’s all stock acquisition of Skydance, planned as a second step in the transaction, wouldn’t change, with a value remaining at about $5 billion.
It’s not clear what happens to the few other Class A shareholders beyond Redstone, but most, like Mario Gabelli, also hold B shares. Class A share have...
- 4/29/2024
- by Jill Goldsmith
- Deadline Film + TV
Reports indicate Bakish could be out as soon as Monday as Paramount continues merger talks with Skydance Media.
Paramount Global has not completed its merger with Skydance Media, but it appears it’s taking the next step in that process. According to multiple reports, Paramount Global CEO Bob Bakish is set to resign from the company under pressure and could see his exit come as early as Monday. Bakish has been sitting in the top chair since 2018 when CBS and Viacom merged into Paramount Global, but his vision for the company’s future is no longer aligned with the goals of its controlling shareholder Shari Redstone.
Key Details: Bakish has been an opponent of the merger with Skydance. Executives at CBS are concerned about what will happen to the company’s TV networks after Bakish’s departure. Skydance CEO David Ellison plans to take the top spot at the new Paramount Global,...
Paramount Global has not completed its merger with Skydance Media, but it appears it’s taking the next step in that process. According to multiple reports, Paramount Global CEO Bob Bakish is set to resign from the company under pressure and could see his exit come as early as Monday. Bakish has been sitting in the top chair since 2018 when CBS and Viacom merged into Paramount Global, but his vision for the company’s future is no longer aligned with the goals of its controlling shareholder Shari Redstone.
Key Details: Bakish has been an opponent of the merger with Skydance. Executives at CBS are concerned about what will happen to the company’s TV networks after Bakish’s departure. Skydance CEO David Ellison plans to take the top spot at the new Paramount Global,...
- 4/29/2024
- by David Satin
- The Streamable
Confusion and anxiety reigned at a CBS-Politico joint party today ahead of the annual White House Correspondents’ Dinner, with staffers shocked at news that Bob Bakish, CEO of parent Paramount Global, is set to exit abruptly as early as Monday morning.
There have been rumblings about Bakish for days as the company enters the final stretch of exclusive merger negotiations with David Ellison’s Skydance. But his imminent departure triggered a wave of anxious speculation tonight in Washington, D.C. Ellison has always been mostly interested in the movie studio and historic lot. Although it seems Skydance does plan to keep the company intact, at least for a time, network folks aren’t betting on it and felt uncertain about the future of CBS, and about who might be running Paramount Global in a few short days — a troika of top execs, a new chief executive?
“We knew changes were coming,...
There have been rumblings about Bakish for days as the company enters the final stretch of exclusive merger negotiations with David Ellison’s Skydance. But his imminent departure triggered a wave of anxious speculation tonight in Washington, D.C. Ellison has always been mostly interested in the movie studio and historic lot. Although it seems Skydance does plan to keep the company intact, at least for a time, network folks aren’t betting on it and felt uncertain about the future of CBS, and about who might be running Paramount Global in a few short days — a troika of top execs, a new chief executive?
“We knew changes were coming,...
- 4/28/2024
- by Dominic Patten and Jill Goldsmith
- Deadline Film + TV
Bob Bakish is expected to resign as Paramount Global CEO amid merger talks heating up with Skydance, IndieWire has learned and according to multiple media reports.
It’s expected that Bakish, who has been with the company since 1997, could step down as early as Monday, which would be ahead of the company’s earnings call on Monday afternoon. He was named CEO in 2019 back when the company was called ViacomCBS.
Reps for Paramount Global declined comment.
It’s a shocking move that comes just as Skydance is closing in on its acquisition of Shari Redstone’s National Amusements, the theater company that holds 77 percent of the controlling shares of Paramount Global.
The Wall Street Journal reported Friday that a Bakish ouster was a possibility, with some board members reportedly souring on his leadership, and CNBC first reported Saturday that his exit could be as soon as Monday. The WSJ says...
It’s expected that Bakish, who has been with the company since 1997, could step down as early as Monday, which would be ahead of the company’s earnings call on Monday afternoon. He was named CEO in 2019 back when the company was called ViacomCBS.
Reps for Paramount Global declined comment.
It’s a shocking move that comes just as Skydance is closing in on its acquisition of Shari Redstone’s National Amusements, the theater company that holds 77 percent of the controlling shares of Paramount Global.
The Wall Street Journal reported Friday that a Bakish ouster was a possibility, with some board members reportedly souring on his leadership, and CNBC first reported Saturday that his exit could be as soon as Monday. The WSJ says...
- 4/27/2024
- by Brian Welk
- Indiewire
Paramount Global is set to announce as early as Monday morning that Bob Bakish is stepping down as CEO amid talks with Skydance and ahead of the company’s quarterly earnings that afternoon.
News Bakish might exit started circulating Friday. Paramount’s controlling shareholder and executive chair Shari Redstone, while once clearly on the same page with the chief executive, is said to be unhappy with some of his more recent strategic moves including a decision not to unload Showtime and an aborted sale process for BET. Deadline has also heard that Bakish is not a fan of a deal with David Ellison’s Skydance, in opposition to Redstone. The two companies are towards the end of a exclusive month-long negotiating period.
Paramount is reporting first quarter earnings after market close Monday. Bakish is not expected to be on the call.
It’s not clear how the company would replace him.
News Bakish might exit started circulating Friday. Paramount’s controlling shareholder and executive chair Shari Redstone, while once clearly on the same page with the chief executive, is said to be unhappy with some of his more recent strategic moves including a decision not to unload Showtime and an aborted sale process for BET. Deadline has also heard that Bakish is not a fan of a deal with David Ellison’s Skydance, in opposition to Redstone. The two companies are towards the end of a exclusive month-long negotiating period.
Paramount is reporting first quarter earnings after market close Monday. Bakish is not expected to be on the call.
It’s not clear how the company would replace him.
- 4/27/2024
- by Jill Goldsmith
- Deadline Film + TV
Amid the M&a drama enveloping Paramount Global, Bob Bakish is about to step down as CEO after eight years at the helm of Shari Redstone’s media empire.
Bakish is expected to resign under pressure as early as Monday. The executive has been with Paramount and its Viacom predecessor since 1997. He was recruited by Redstone in 2016 to help bring order to a company that had descended into public legal brawling among shareholders and a battle for control between Redstone and former Viacom CEO Philippe Dauman. Word of Bakish’s pending exit first surfaced Friday in the Wall Street Journal.
At present, Paramount‘s board of directors is deep in exclusive acquisitions talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to field a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiating window with Skydance nears.
Bakish is expected to resign under pressure as early as Monday. The executive has been with Paramount and its Viacom predecessor since 1997. He was recruited by Redstone in 2016 to help bring order to a company that had descended into public legal brawling among shareholders and a battle for control between Redstone and former Viacom CEO Philippe Dauman. Word of Bakish’s pending exit first surfaced Friday in the Wall Street Journal.
At present, Paramount‘s board of directors is deep in exclusive acquisitions talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to field a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiating window with Skydance nears.
- 4/27/2024
- by Cynthia Littleton
- Variety Film + TV
The Bob Bakish era at Paramount appears to be nearing its end.
The Paramount CEO is expected to part ways with the entertainment giant in the next couple of days. Paramount reports its quarterly earnings on Monday afternoon, meaning that if he does leave, it will likely be before then.
A Paramount spokesperson declined to comment.
The CEO’s imminent exit comes as Paramount and controlling shareholder National Amusements are in exclusive sale negotiations with a group led by David Ellison’s Skydance, as well as Gerry Cardinale’s RedBird Capital, and Kkr.
But it also comes as another potential bidder, the private equity firm Apollo, has held early talks with Sony about partnering on an offer. Such an offer could not be presented to the board until the exclusive window with Skydance closes.
The Journal first reported on the potential exit of Bakish, adding that the plan being considered...
The Paramount CEO is expected to part ways with the entertainment giant in the next couple of days. Paramount reports its quarterly earnings on Monday afternoon, meaning that if he does leave, it will likely be before then.
A Paramount spokesperson declined to comment.
The CEO’s imminent exit comes as Paramount and controlling shareholder National Amusements are in exclusive sale negotiations with a group led by David Ellison’s Skydance, as well as Gerry Cardinale’s RedBird Capital, and Kkr.
But it also comes as another potential bidder, the private equity firm Apollo, has held early talks with Sony about partnering on an offer. Such an offer could not be presented to the board until the exclusive window with Skydance closes.
The Journal first reported on the potential exit of Bakish, adding that the plan being considered...
- 4/27/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
French 2D animation specialist Disnosc will bring Miles Davis, Chet Baker and Fats Waller to a headset near you.
A family venture founded by Fabrice and Nathan Otaño – a father-son duo with respective experience in corporate analytics and high-end animation, with credits on films like “The Summit of the Gods” and “Ernest & Celestine: A Trip to Gibberitia” – the Biarritz-based studio launched in 2020 to bring pet-project “Blue Figures” to the small screen.
Co-directed by David Calvert and developed in-house, the hand-drawn anthology series follows a Parisian record store, staffed by jazz aficionados, that opens a wider window onto the world. Episodes will focus on individuals such as Davis, Baker and Waller, as well as pianist Mary Lou Williams and French author-scenester Boris Vian.
“Jazz isn’t just about music,” says producer Fabrice Otaño, evoking Miles Davis’ infamous police assault outside of New York’s Birdland. “It’s also about political and social struggle.
A family venture founded by Fabrice and Nathan Otaño – a father-son duo with respective experience in corporate analytics and high-end animation, with credits on films like “The Summit of the Gods” and “Ernest & Celestine: A Trip to Gibberitia” – the Biarritz-based studio launched in 2020 to bring pet-project “Blue Figures” to the small screen.
Co-directed by David Calvert and developed in-house, the hand-drawn anthology series follows a Parisian record store, staffed by jazz aficionados, that opens a wider window onto the world. Episodes will focus on individuals such as Davis, Baker and Waller, as well as pianist Mary Lou Williams and French author-scenester Boris Vian.
“Jazz isn’t just about music,” says producer Fabrice Otaño, evoking Miles Davis’ infamous police assault outside of New York’s Birdland. “It’s also about political and social struggle.
- 4/27/2024
- by Ben Croll
- Variety Film + TV
Board members at Paramount Global are reportedly considering the removal of CEO Bob Bakish as discussions continue with Skydance Media about a complex, multi-step merger.
If exclusive talks with Skydance bear fruit, there likely would not be a role for Bakish in the combined company, with Skydance chief David Ellison slated to serve as the new entity’s CEO. Even alternatives to Skydance like Apollo Global Management’s bid, which could also involve Sony Pictures Entertainment, likely wouldn’t have room for Bakish. That has made his ongoing presence in the corner office an inherently awkward feature of the Paramount landscape, but the Wall Street Journal‘s report on his possible ouster put a finer point on all of it.
The scenario outlined by unnamed sources in the WSJ article would have senior-level execs teaming to fulfill top leadership duties in an “Office of the CEO” setup. Shari Redstone, Paramount...
If exclusive talks with Skydance bear fruit, there likely would not be a role for Bakish in the combined company, with Skydance chief David Ellison slated to serve as the new entity’s CEO. Even alternatives to Skydance like Apollo Global Management’s bid, which could also involve Sony Pictures Entertainment, likely wouldn’t have room for Bakish. That has made his ongoing presence in the corner office an inherently awkward feature of the Paramount landscape, but the Wall Street Journal‘s report on his possible ouster put a finer point on all of it.
The scenario outlined by unnamed sources in the WSJ article would have senior-level execs teaming to fulfill top leadership duties in an “Office of the CEO” setup. Shari Redstone, Paramount...
- 4/26/2024
- by Dade Hayes
- Deadline Film + TV
Bob Bakish may be out at Paramount Global before any sale or merger deal for the media company is completed.
The board of directors of Paramount Global, including controlling shareholder Shari Redstone, have discussed a plan to oust Bakish as CEO, the Wall Street Journal reported, citing anonymous sources. Instead, the company would form an “Office of the CEO” comprising Paramount Global’s division heads to run operations on an interim basis, per the report.
A Paramount Global rep declined to comment.
The company is scheduled to report first quarter 2024 results Monday, April 29, after the market close. The earnings call with analysts is set to begin at 4:30 p.m. Et.
The report comes as Paramount — owner of Paramount Pictures, CBS, Paramount+ and cable channels like MTV and Comedy Central — has been in exclusive M&a talks with David Ellison’s Skydance Media the past two weeks. Meanwhile, word emerged last...
The board of directors of Paramount Global, including controlling shareholder Shari Redstone, have discussed a plan to oust Bakish as CEO, the Wall Street Journal reported, citing anonymous sources. Instead, the company would form an “Office of the CEO” comprising Paramount Global’s division heads to run operations on an interim basis, per the report.
A Paramount Global rep declined to comment.
The company is scheduled to report first quarter 2024 results Monday, April 29, after the market close. The earnings call with analysts is set to begin at 4:30 p.m. Et.
The report comes as Paramount — owner of Paramount Pictures, CBS, Paramount+ and cable channels like MTV and Comedy Central — has been in exclusive M&a talks with David Ellison’s Skydance Media the past two weeks. Meanwhile, word emerged last...
- 4/26/2024
- by Todd Spangler
- Variety Film + TV
Skydance and Paramount are deep into hashing out a complicated deal that would see the David Ellison’s studio and its backers take control of the storied film and television company owned by Shari Redstone. The exclusive month-long negotiating period through May 3 is likely to be extended perhaps by a few weeks, Deadline hears, given the complexity of the transaction.
The rough contours of a Skydance deal would see a circa $2 billion payout to Redstone for a majority stake in family holding Nai (which controls Paramount though its voting Class A shares) as well as the National Amusements theater chain and associated real estate assets. Step two would see Paramount acquire Skydance in an all-stock deal valued at circa $4-5 billion. That’s being worked on and will likely wind up at the high end of the range.
Skydance’s last capital raise in the fall of 2022, with Kkr as a new investor,...
The rough contours of a Skydance deal would see a circa $2 billion payout to Redstone for a majority stake in family holding Nai (which controls Paramount though its voting Class A shares) as well as the National Amusements theater chain and associated real estate assets. Step two would see Paramount acquire Skydance in an all-stock deal valued at circa $4-5 billion. That’s being worked on and will likely wind up at the high end of the range.
Skydance’s last capital raise in the fall of 2022, with Kkr as a new investor,...
- 4/25/2024
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
Exclusive: Apple and Skydance have welcomed four to the cast of their action adventure pic Mayday from writer-directors Jonathan Goldstein and John Francis Daley: Maria Bakalova (Borat Subsequent Moviefilm), Marcin Dorocinski (Mission: Impossible – Dead Reckoning Part One), Lovell Adams-Gray (Power Book II: Ghost), and Clark Johnson (The Wire).
Details as to the film’s plot and their roles are under wraps. As previously announced, Ryan Reynolds and Kenneth Branagh topline the project based on an original pitch from Goldstein and Daley, which was developed with Skydance.
Hailing from a first-look partnership between Apple and Skydance Media, Mayday is produced by Skydance’s David Ellison, Dana Goldberg and Don Granger, alongside Reynolds, Ashley Fox, Johnny Pariseau and Patrick Gooing for Maximum Effort. Goldstein and Daley are also serving as producers, with Carin Sage overseeing the project for Skydance.
An Academy Award nominee known for turns in films like Borat...
Details as to the film’s plot and their roles are under wraps. As previously announced, Ryan Reynolds and Kenneth Branagh topline the project based on an original pitch from Goldstein and Daley, which was developed with Skydance.
Hailing from a first-look partnership between Apple and Skydance Media, Mayday is produced by Skydance’s David Ellison, Dana Goldberg and Don Granger, alongside Reynolds, Ashley Fox, Johnny Pariseau and Patrick Gooing for Maximum Effort. Goldstein and Daley are also serving as producers, with Carin Sage overseeing the project for Skydance.
An Academy Award nominee known for turns in films like Borat...
- 4/25/2024
- by Matt Grobar
- Deadline Film + TV
Forty years ago, author William Gibson brought the world a cyberpunk novel called Neuromancer – and an adaptation of that story has been trudging its way through development hell pretty much ever since. Versions of a feature film adaptation have passed through the hands of director like music video maker Chris Cunningham, A Nightmare on Elm Street 3: Dream Warriors and The Blob‘s Chuck Russell, Torque‘s Joseph Kahn, Cube‘s Vincenzo Natali, and Deadpool‘s Tim Miller. While these projects were being put together (and while they fell apart), Neuromancer fans always wondered who would end up playing the lead character, Henry Dorsett Case. Hayden Christensen was rumored to be the top contender when Kahn was going to direct (with Liv Tyler rumored to co-star). Liam Neeson and Mark Wahlberg were said to be in the running for Natali’s version, although it wasn’t said who they might be playing.
- 4/24/2024
- by Cody Hamman
- JoBlo.com
Callum Turner has been cast in the lead role of the series adaptation of the William Gibson novel “Neuromancer” at Apple TV+, Variety has learned.
The series was originally announced in February. Per the official description, the 10-episode drama follows “a damaged, top-rung super-hacker named Case (Turner) who is thrust into a web of digital espionage and high stakes crime with his partner Molly, a razor-girl assassin with mirrored eyes, aiming to pull a heist on a corporate dynasty with untold secrets.”
This will mark the second starring role in an Apple series for Turner. Previously, he starred in the World War II series “Masters of the Air” alongside a cast that included Austin Butler and Barry Keoghan. The show debuted on the streaming arm of the tech giant earlier this year. He has also starred in shows like “Glue” and the 2016 BBC series version of “War & Peace.” In film,...
The series was originally announced in February. Per the official description, the 10-episode drama follows “a damaged, top-rung super-hacker named Case (Turner) who is thrust into a web of digital espionage and high stakes crime with his partner Molly, a razor-girl assassin with mirrored eyes, aiming to pull a heist on a corporate dynasty with untold secrets.”
This will mark the second starring role in an Apple series for Turner. Previously, he starred in the World War II series “Masters of the Air” alongside a cast that included Austin Butler and Barry Keoghan. The show debuted on the streaming arm of the tech giant earlier this year. He has also starred in shows like “Glue” and the 2016 BBC series version of “War & Peace.” In film,...
- 4/23/2024
- by Joe Otterson
- Variety Film + TV
BAFTA Award-nominee Callum Turner is joining Neuromancer, a new 10-episode drama based on the sci-fi novel of the same name by William Gibson.
Created for television by Graham Roland (Tom Clancy’s Jack Ryan) and Jd Dillard (The Outsider), Neuromancer follows a damaged, top-rung super-hacker named Case (Turner) who is thrust into a web of digital espionage and high stakes crime with his partner Molly, a razor-girl assassin with mirrored eyes, aiming to pull a heist on a corporate dynasty with untold secrets.
Neuromancer was Gibson’s debut novel that earned a Nebula Award, the Philip K. Dick Award, and the Hugo Award. It served as the first book in the Sprawl trilogy and was followed by Count Zero and Mona Lisa Overdrive.
The series will be a co-production between Skydance Television, Anonymous Content and Apple Studios. It will also be...
Created for television by Graham Roland (Tom Clancy’s Jack Ryan) and Jd Dillard (The Outsider), Neuromancer follows a damaged, top-rung super-hacker named Case (Turner) who is thrust into a web of digital espionage and high stakes crime with his partner Molly, a razor-girl assassin with mirrored eyes, aiming to pull a heist on a corporate dynasty with untold secrets.
Neuromancer was Gibson’s debut novel that earned a Nebula Award, the Philip K. Dick Award, and the Hugo Award. It served as the first book in the Sprawl trilogy and was followed by Count Zero and Mona Lisa Overdrive.
The series will be a co-production between Skydance Television, Anonymous Content and Apple Studios. It will also be...
- 4/23/2024
- by Lynette Rice
- Deadline Film + TV
Paramount Global CEO Bob Bakish saw his total compensation dip slightly in 2023, to $31.3 million from $32 million in the prior year.
The latest figures were disclosed Monday in an SEC filing.
The next-highest tally among top execs was for CFO Naveen Chopra, who collected $8 million, up from $6.5 million in 2022.
Bakish’s salary was $3.1 million and he was given a stock award of $15.5 million and another $12.4 million via the company’s non-equity incentive plan.
Along with executive compensation, the filing revealed the June 4 date of the company’s annual shareholder meeting. The meeting, which has seen more than its share of drama in recent years, could be another source of intrigue as controlling shareholder Shari Redstone considers a number of M&a options. Four members of the company’s board of directors, who would customarily have taken part in the meeting, recently announced they will not run for re-election.
Bakish’s salary had...
The latest figures were disclosed Monday in an SEC filing.
The next-highest tally among top execs was for CFO Naveen Chopra, who collected $8 million, up from $6.5 million in 2022.
Bakish’s salary was $3.1 million and he was given a stock award of $15.5 million and another $12.4 million via the company’s non-equity incentive plan.
Along with executive compensation, the filing revealed the June 4 date of the company’s annual shareholder meeting. The meeting, which has seen more than its share of drama in recent years, could be another source of intrigue as controlling shareholder Shari Redstone considers a number of M&a options. Four members of the company’s board of directors, who would customarily have taken part in the meeting, recently announced they will not run for re-election.
Bakish’s salary had...
- 4/22/2024
- by Dade Hayes
- Deadline Film + TV
Tramell Tillman — the actor who broke out in popular Apple series Severance — has landed a role in the eighth Mission: Impossible film.
Tillman will join fellow franchise newcomers like Katy O’Brian, Nick Offerman and Hannah Waddingham, along with Mission vets that include Henry Czerny, Hayley Atwell, Ving Rhames, Simon Pegg, Pom Klementieff and Vanessa Kirby. Plot details (including what character Tillman will be playing) are being kept under wraps.
Star Tom Cruise is producing the Paramount and Skydance film with director Christopher McQuarrie. David Ellison, Dana Goldberg, Don Granger and Chris Brock are executive producing.
In Dead Reckoning Part One, the last Mission film to hit theaters, Cruise returned as Imf agent Ethan Hunt, a role he originated in the 1996 film based on the popular television series and he has carried over films that have collectively crossed some multiple billions at the global box office. The seventh film saw the...
Tillman will join fellow franchise newcomers like Katy O’Brian, Nick Offerman and Hannah Waddingham, along with Mission vets that include Henry Czerny, Hayley Atwell, Ving Rhames, Simon Pegg, Pom Klementieff and Vanessa Kirby. Plot details (including what character Tillman will be playing) are being kept under wraps.
Star Tom Cruise is producing the Paramount and Skydance film with director Christopher McQuarrie. David Ellison, Dana Goldberg, Don Granger and Chris Brock are executive producing.
In Dead Reckoning Part One, the last Mission film to hit theaters, Cruise returned as Imf agent Ethan Hunt, a role he originated in the 1996 film based on the popular television series and he has carried over films that have collectively crossed some multiple billions at the global box office. The seventh film saw the...
- 4/22/2024
- by Mia Galuppo
- The Hollywood Reporter - Movie News
Paramount Global shares jumped 13% Friday as investors cheered news that Sony Pictures Entertainment is talking with Apollo Global Management about joining Apollo’s bid for Paramount.
The beleaguered stock ended the day at $12.44 after registering more than twice its normal trading volume. Shares reached their highest point since February, offering fresh evidence that many investors appear to be gravitating toward the Apollo/Sony scenario, largely for structural reasons. Importantly, even if the two entities joined forces, they are not yet officially in the arena. For the next two weeks, David Ellison’s Skydance Media, backed by RedBird Capital and other investors, is in an exclusive negotiating window with Paramount’s controlling shareholder, National Amusements.
While Skydance appeals to many media industry vets given Ellison’s strong track record and enthusiasm for keeping Paramount Pictures intact, the deal it is pursuing has inherent strings attached. National Amusements Inc., which is run by Shari Redstone,...
The beleaguered stock ended the day at $12.44 after registering more than twice its normal trading volume. Shares reached their highest point since February, offering fresh evidence that many investors appear to be gravitating toward the Apollo/Sony scenario, largely for structural reasons. Importantly, even if the two entities joined forces, they are not yet officially in the arena. For the next two weeks, David Ellison’s Skydance Media, backed by RedBird Capital and other investors, is in an exclusive negotiating window with Paramount’s controlling shareholder, National Amusements.
While Skydance appeals to many media industry vets given Ellison’s strong track record and enthusiasm for keeping Paramount Pictures intact, the deal it is pursuing has inherent strings attached. National Amusements Inc., which is run by Shari Redstone,...
- 4/19/2024
- by Dade Hayes
- Deadline Film + TV
Paramount is currently in exclusive negotiations with Skydance on a potential merger, but there is another contender lurking — one coming from way out of left field.
The New York Times reported Thursday that Sony Pictures Entertainment is in talks with Apollo Global Management on teaming up for a potential joint bid to buy Paramount. There has not been an official offer on the table because of the formal exclusive negotiations, but this one threatens to be seismic. There is one degree of separation between the potential joint venture: Sony and the Apollo-backed Legendary Pictures already have a distribution deal.
When reached by IndieWire, Sony had no comment on the report. Same with Paramount, and Apollo did not immediately respond to our inquiry. We get it: we’re sort of speechless too.
A Sony Pictures and Paramount Pictures studio combination would be an instant Hollywood juggernaut. (So much so that...
The New York Times reported Thursday that Sony Pictures Entertainment is in talks with Apollo Global Management on teaming up for a potential joint bid to buy Paramount. There has not been an official offer on the table because of the formal exclusive negotiations, but this one threatens to be seismic. There is one degree of separation between the potential joint venture: Sony and the Apollo-backed Legendary Pictures already have a distribution deal.
When reached by IndieWire, Sony had no comment on the report. Same with Paramount, and Apollo did not immediately respond to our inquiry. We get it: we’re sort of speechless too.
A Sony Pictures and Paramount Pictures studio combination would be an instant Hollywood juggernaut. (So much so that...
- 4/19/2024
- by Tony Maglio and Brian Welk
- Indiewire
If Skydance and Paramount exit their exclusive negotiating period without a deal, Sony and Apollo could be ready to step up.
Will there someday be a “Succession“-style show dedicated to the sale process of Paramount Global? The amount of twists and turns the saga has taken in the past few months could make for compelling television, and now a new wrinkle has emerged. The New York Times reports that Sony Pictures Entertainment is discussing the possibility of a joint bid to acquire Paramount with Apollo Global Management, which has unsuccessfully attempted to purchase Paramount multiple times in the past.
One possible deal structure would see Apollo serve as minority partner, with Sony in majority control of Paramount. Apollo lodged a $27 billion bid for Paramount but was rebuffed as Paramount entered into exclusive negotiations with Skydance Media. The two companies cannot make an official offer to Paramount until it exits...
Will there someday be a “Succession“-style show dedicated to the sale process of Paramount Global? The amount of twists and turns the saga has taken in the past few months could make for compelling television, and now a new wrinkle has emerged. The New York Times reports that Sony Pictures Entertainment is discussing the possibility of a joint bid to acquire Paramount with Apollo Global Management, which has unsuccessfully attempted to purchase Paramount multiple times in the past.
One possible deal structure would see Apollo serve as minority partner, with Sony in majority control of Paramount. Apollo lodged a $27 billion bid for Paramount but was rebuffed as Paramount entered into exclusive negotiations with Skydance Media. The two companies cannot make an official offer to Paramount until it exits...
- 4/19/2024
- by David Satin
- The Streamable
The intrigue surrounding the fate of Paramount deepened on Thursday after it emerged that Sony Pictures and Apollo Global Management were said to be discussing whether to make a bid for the studio.
While exclusive negotiations are ongoing between David Ellison’s Skydance Media, RedBird Capital and Paramount Global majority shareholder National Amusements, The New York Times reported on the Sony development.
It is understood no bid has been submitted, but the Times said Sony Pictures CEO Tony Vinciquerra held talks with Apollo last week as they weigh up an all-cash offer for Paramount’s outstanding stock that would effectively take the studio private.
While exclusive negotiations are ongoing between David Ellison’s Skydance Media, RedBird Capital and Paramount Global majority shareholder National Amusements, The New York Times reported on the Sony development.
It is understood no bid has been submitted, but the Times said Sony Pictures CEO Tony Vinciquerra held talks with Apollo last week as they weigh up an all-cash offer for Paramount’s outstanding stock that would effectively take the studio private.
- 4/19/2024
- ScreenDaily
Even as Paramount Global continues to hold exclusive talks with David Ellison’s Skydance and Gerry Cardinale’s Redbird Capital, another potential buyer group is considering its own moves.
The Hollywood Reporter has confirmed that executives at Sony Corp., including Sony Pictures chief Tony Vinciquerra, have been in touch with Apollo Global Management about making a joint bid for the entertainment company.
Apollo had previously made a $26 billion offer for Paramount, inclusive of equity and debt, though it was reportedly dismissed. But partnering with Sony would likely eliminate any cash or financing concerns.
The New York Times first reported the Sony talks, adding that no offer has been made, given that the exclusive negotiating window is still in place. The Times reported that one structure under consideration would see Sony and Apollo effectively take Paramount private, with Sony owning a majority of the company, with Apollo operating as a minority owner.
The Hollywood Reporter has confirmed that executives at Sony Corp., including Sony Pictures chief Tony Vinciquerra, have been in touch with Apollo Global Management about making a joint bid for the entertainment company.
Apollo had previously made a $26 billion offer for Paramount, inclusive of equity and debt, though it was reportedly dismissed. But partnering with Sony would likely eliminate any cash or financing concerns.
The New York Times first reported the Sony talks, adding that no offer has been made, given that the exclusive negotiating window is still in place. The Times reported that one structure under consideration would see Sony and Apollo effectively take Paramount private, with Sony owning a majority of the company, with Apollo operating as a minority owner.
- 4/19/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Sony Pictures Entertainment and Apollo Global Management are considering a possible joint bid for Paramount Global.
News of the discussions was first reported by the New York Times. Sources close to the situation confirmed the conversations but cautioned that there are numerous obstacles that would need to be overcome before the sides could formally submit an offer. Apollo previously floated a $26 billion offer for Paramount by itself and before that it floated an $11 billion offer for the Paramount Pictures film studio on its own.
At present, Paramount Global is in the midst of an exclusive 30-day negotiating window with Skydance Media. Skydance and Paramount are trying to work out a deal that would merge Paramount into Skydance and bring in a new management regime led by Skydance CEO David Ellison. Paramount Global has set up a special committee of board members to consider offers and options for Paramount. That committee...
News of the discussions was first reported by the New York Times. Sources close to the situation confirmed the conversations but cautioned that there are numerous obstacles that would need to be overcome before the sides could formally submit an offer. Apollo previously floated a $26 billion offer for Paramount by itself and before that it floated an $11 billion offer for the Paramount Pictures film studio on its own.
At present, Paramount Global is in the midst of an exclusive 30-day negotiating window with Skydance Media. Skydance and Paramount are trying to work out a deal that would merge Paramount into Skydance and bring in a new management regime led by Skydance CEO David Ellison. Paramount Global has set up a special committee of board members to consider offers and options for Paramount. That committee...
- 4/19/2024
- by Cynthia Littleton
- Variety Film + TV
Remember those rumors, oh, eight years ago about how Sony was a target for acquisition?
No more. Still, don’t say merger yet.
Deadline has confirmed that Sony Pictures Entertainment CEO Tony Vinciquerra has been in talks with Apollo Global Management about making a go for Paramount. This despite Skydance/Redbird Capital being in exclusive talks with Paramount Global‘s majority shareholder National Amusements to take control of the studio.
The Apollo and Sony plan reportedly is an all-cash one for outstanding stock in Paramount, in total making the studio private through a joint venture, per The New York Times in a story today. It’s not clear how Sony would be involved, or if it’s merely in management expertise. Our understanding at this point is that Apollo is doing a lot of the heavy lifting.
Paramount’s beaten-down stock jumped 12% in after-hours trading today as investors processed the scenario.
No more. Still, don’t say merger yet.
Deadline has confirmed that Sony Pictures Entertainment CEO Tony Vinciquerra has been in talks with Apollo Global Management about making a go for Paramount. This despite Skydance/Redbird Capital being in exclusive talks with Paramount Global‘s majority shareholder National Amusements to take control of the studio.
The Apollo and Sony plan reportedly is an all-cash one for outstanding stock in Paramount, in total making the studio private through a joint venture, per The New York Times in a story today. It’s not clear how Sony would be involved, or if it’s merely in management expertise. Our understanding at this point is that Apollo is doing a lot of the heavy lifting.
Paramount’s beaten-down stock jumped 12% in after-hours trading today as investors processed the scenario.
- 4/19/2024
- by Anthony D'Alessandro and Dade Hayes
- Deadline Film + TV
Paramount+ may not have “Yellowstone,” but it could soon have Yellowstone. Maybe Earth Day 2025.
Struggling streamer Paramount+ and the National Park Foundation announced a new streaming partnership on Tuesday. You read that right. Under the pact, the Paramount Global SVOD (streaming video on-demand) service will livestream (and provide as video on-demand) sunrise-to-sunset content from seven U.S. national parks: Yosemite National Park, Blue Ridge Parkway, Bighorn Canyon National Recreation Area, New River Gorge National Park & Preserve, Everglades National Park, Death Valley National Park, and Zion National Park.
No mention of Yellowstone, our country’s first national park. How perfect.
Paramount famously fumbled the bag on Paramount Network’s smash-hit drama “Yellowstone,” which it licensed out to NBCUniversal’s Peacock for streaming. Paramount did not make the same mistake with creator Taylor Sheridan’s many spinoffs and similar series — none of them are “Yellowstone” though.
This hero basically (read: literally) screamed “What About Yellowstone?...
Struggling streamer Paramount+ and the National Park Foundation announced a new streaming partnership on Tuesday. You read that right. Under the pact, the Paramount Global SVOD (streaming video on-demand) service will livestream (and provide as video on-demand) sunrise-to-sunset content from seven U.S. national parks: Yosemite National Park, Blue Ridge Parkway, Bighorn Canyon National Recreation Area, New River Gorge National Park & Preserve, Everglades National Park, Death Valley National Park, and Zion National Park.
No mention of Yellowstone, our country’s first national park. How perfect.
Paramount famously fumbled the bag on Paramount Network’s smash-hit drama “Yellowstone,” which it licensed out to NBCUniversal’s Peacock for streaming. Paramount did not make the same mistake with creator Taylor Sheridan’s many spinoffs and similar series — none of them are “Yellowstone” though.
This hero basically (read: literally) screamed “What About Yellowstone?...
- 4/16/2024
- by Tony Maglio
- Indiewire
As Paramount Global and Skydance Media’s exclusive talks about a potential merger continue, Ariel Investments founder and co-ceo John Rogers Jr. told TheWrap that the media conglomerate’s recent stock decline indicates a lack of faith in Skydance’s CEO David Ellison.
Watching the developments closely, the executive said that he could consider legal action in the event that a deal doesn’t appropriately benefit his clients.
The firm, which is a long-term shareholder with a 1.8% stake in Paramount as of the new year, previously told TheWrap Friday that pursuing exclusive talks with Skydance and a deal that would benefit controlling shareholder Shari Redstone at the expense of other shareholders would be “averse” to the company’s fair market value.
On Monday, he added that they are “talking to our outside counsel.”
Paramount shares have fallen 50% in the past year (Credit: Nasdaq)
“It’s something that we’re going...
Watching the developments closely, the executive said that he could consider legal action in the event that a deal doesn’t appropriately benefit his clients.
The firm, which is a long-term shareholder with a 1.8% stake in Paramount as of the new year, previously told TheWrap Friday that pursuing exclusive talks with Skydance and a deal that would benefit controlling shareholder Shari Redstone at the expense of other shareholders would be “averse” to the company’s fair market value.
On Monday, he added that they are “talking to our outside counsel.”
Paramount shares have fallen 50% in the past year (Credit: Nasdaq)
“It’s something that we’re going...
- 4/15/2024
- by Lucas Manfredi
- The Wrap
Paramount's Second-Largest Shareholder Would Rather See Company Go Unsold Than Approve Skydance Deal
Speaking with the New York Post last week, Wall Street mogul Mario Gabelli said there was “no question” he’d prefer no deal to the Skydance offer.
There aren’t many Paramount shareholders beyond the controlling shareholder Shari Redstone who are enthusiastic about the company’s decision to enter into exclusive negotiations with David Ellison of Skydance Media regarding a merger. A report from the New York Post indicates that Paramount’s second-largest shareholder Mario Gabelli is also against the deal, and in fact would rather Paramount remain unsold than see it be merged or acquired by some other company.
Gabelli said there was “no question I’d rather see no sale” when queried by the Post. His plan is to follow Paramount CEO Bob Bakish’s guidance on keeping the company going, as well as to sell its cable channels to Byron Allen. Allen has already registered a bid for Paramount Global,...
There aren’t many Paramount shareholders beyond the controlling shareholder Shari Redstone who are enthusiastic about the company’s decision to enter into exclusive negotiations with David Ellison of Skydance Media regarding a merger. A report from the New York Post indicates that Paramount’s second-largest shareholder Mario Gabelli is also against the deal, and in fact would rather Paramount remain unsold than see it be merged or acquired by some other company.
Gabelli said there was “no question I’d rather see no sale” when queried by the Post. His plan is to follow Paramount CEO Bob Bakish’s guidance on keeping the company going, as well as to sell its cable channels to Byron Allen. Allen has already registered a bid for Paramount Global,...
- 4/15/2024
- by David Satin
- The Streamable
Screen looks at the key take-aways from the annual exhibitors convention in Las Vegas which ran April 8-11.
Exhibitors in decent shape; AMC boss fends off bankruptcy talk
Cineworld has come through a restructure. Cinemark continues to run a tight ship. And AMC will not file for bankruptcy – or so CEO Adam Aron asserted whenever a reporter was within earshot, despite a heavy debt load and incessant speculation about the financial health of the world’s largest circuit after Covid and the Hollywood strikes.
However Drafthouse is exploring a sale, and Hollywood sources told Screen the likelihood is there will be consolidation down the line,...
Exhibitors in decent shape; AMC boss fends off bankruptcy talk
Cineworld has come through a restructure. Cinemark continues to run a tight ship. And AMC will not file for bankruptcy – or so CEO Adam Aron asserted whenever a reporter was within earshot, despite a heavy debt load and incessant speculation about the financial health of the world’s largest circuit after Covid and the Hollywood strikes.
However Drafthouse is exploring a sale, and Hollywood sources told Screen the likelihood is there will be consolidation down the line,...
- 4/13/2024
- ScreenDaily
Paramount CEO Robert Bakish. (Courtesy photo)
Paramount Global CEO Robert Bakish saw his executive compensation fall 2.1 percent last year, according to a financial filing made with federal regulators on Thursday.
The filing, a proxy statement distributed to shareholders and submitted to the U.S. Securities and Exchange Commission, revealed Bakish’s total compensation to be $31.257 million for 2023, down from the $32.048 million he received one year prior.
His core cash compensation was $3.1 million in 2023, which was unchanged from the prior two years. The lower overall compensation was tied mostly to fewer stock awards and non-equity incentive plan compensation, which slipped to $15.535 million and $12.817 million respectively.
Like other executives, Bakish’s stock options and non-equity incentive compensation are tied to certain metrics, including the performance of Paramount’s stock price. The company’s stock fell nearly 22.5 percent during 2023, according to historical closing prices reviewed by The Desk.
Bakish’s total executive compensation...
Paramount Global CEO Robert Bakish saw his executive compensation fall 2.1 percent last year, according to a financial filing made with federal regulators on Thursday.
The filing, a proxy statement distributed to shareholders and submitted to the U.S. Securities and Exchange Commission, revealed Bakish’s total compensation to be $31.257 million for 2023, down from the $32.048 million he received one year prior.
His core cash compensation was $3.1 million in 2023, which was unchanged from the prior two years. The lower overall compensation was tied mostly to fewer stock awards and non-equity incentive plan compensation, which slipped to $15.535 million and $12.817 million respectively.
Like other executives, Bakish’s stock options and non-equity incentive compensation are tied to certain metrics, including the performance of Paramount’s stock price. The company’s stock fell nearly 22.5 percent during 2023, according to historical closing prices reviewed by The Desk.
Bakish’s total executive compensation...
- 4/12/2024
- by Matthew Keys
- The Desk
Four board members at Paramount Global will step aside as talks continue with the David Ellison-led Skydance Media, the company confirmed Thursday in its proxy filing.
Dawn Ostroff, Nicole Seligman, Frederick Terrell and Rob Klieger will all depart the company’s board in the next few months, with Paramount telling shareholders in its annual proxy filing that they would not be standing for reelection. Paramount’s annual meeting has been scheduled for June 4, it is not immediately clear when the directors will leave the company.
Ostroff only joined the board a year ago. In the filing, the company said that the seven board nominees would be Robert M. Bakish, Barbara M. Byrne, Linda M. Griego, Judith A. McHale, Charles E. Phillips Jr., Shari E. Redstone and Susan Schuman.
Paramount — controlled by non-executive chair Redstone via her family’s National Amusements Inc. holding company — is in exclusive talks with Skydance...
Dawn Ostroff, Nicole Seligman, Frederick Terrell and Rob Klieger will all depart the company’s board in the next few months, with Paramount telling shareholders in its annual proxy filing that they would not be standing for reelection. Paramount’s annual meeting has been scheduled for June 4, it is not immediately clear when the directors will leave the company.
Ostroff only joined the board a year ago. In the filing, the company said that the seven board nominees would be Robert M. Bakish, Barbara M. Byrne, Linda M. Griego, Judith A. McHale, Charles E. Phillips Jr., Shari E. Redstone and Susan Schuman.
Paramount — controlled by non-executive chair Redstone via her family’s National Amusements Inc. holding company — is in exclusive talks with Skydance...
- 4/11/2024
- by Alex Weprin and Georg Szalai
- The Hollywood Reporter - Movie News
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