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How Paramount Aims to Make Gender Equity a Focus Paramount, which is a rare Fortune 500 company with a majority of female board members, has been trying to make good on its promise to put a spotlight on gender equity by making it part of regular company life by providing ongoing initiatives and adding new…
Paramount Will Pay $122.5M to Settle CBS-Viacom Merger Lawsuit Paramount Global has agreed to settle a shareholder lawsuit that claimed that the 2019 CBS-Viacom merger was unfair for shareholders. According to a securities filing Friday, Paramount will pay the shareholders $122.5 million to settle the claims, subject to a long-form settlement agreement and approval by…
‘South Park’ Licensing Deal Sparks Lawsuit From Warner Bros. Discovery Against Paramount Global Warner Bros. Discovery is suing to enforce its exclusive streaming rights to South Park on HBO Max. A lawsuit filed on Friday in New York state court accuses Paramount Global of going back on a $500 million licensing deal reached in 2019…
Paramount CEO: “General Entertainment Clearly Makes Sense For Us” As Disney Backs Away Asked whether Disney’s move away from “undifferentiated” general entertainment programming has any impact on Paramount Global, CEO Bob Bakish said the platform already stands out in the field because of its offerings, which include Paramount films, CBS programming, Nickelodeon shows and franchises….
Paramount Tops 77M Streaming Subs, Including 56M at Paramount+, Helped by ‘Top Gun: Maverick;’ Streaming Loss Widens to $575M Paramount Global reached more than 77 million streaming subscribers worldwide as of the end of 2022, up from 67 million as of the end of September, as Paramount+ posted a record quarterly user gain, the Hollywood giant…
CBS, Paramount+ Exec George Cheeks to Keynote Banff Festival George Cheeks, president and CEO of CBS and CFO of news and sports for Paramount+, is set to keynote the upcoming Banff World Media Festival. Cheeks will speak on June 12 as part of the Summit Series for the festival’s 44th edition. “George Cheeks has been…
Paramount+ Strikes First Major Mobile Distribution Deal in U.K. With Three Paramount+, the Paramount Global streaming service, has struck a distribution deal with mobile phone firm Three in the U.K. “Three U.K. becomes the streaming service’s first major mobile partner in the U.K. as Paramount+ continues to grow its direct-to-consumer distribution,” the company said. Financial…
Paramount CEO On Streaming Profitability Push: “It Takes a Little While” Paramount Global CEO Bob Bakish says his studio is increasingly focused on its fast-expanding streaming model to compete against market leaders Netflix and Disney, but has yet to declare when Paramount+ and Pluto TV will be as profitable as CBS once was on its…
Bob Bakish’s Paramount Mandate: Global Mindset, “Local Execution” Paramount wants to increasingly approach its networks, streamers and other assets with a truly global mindset. The conglomerate is working to structure reporting lines within the organization with that in mind — rather than relying on traditional regional clusters — and executives are now sharing additional details of that…
Paramount Stock Downgraded by Wells Fargo, Again, as Analyst Outlines Streaming Strategy, Deal Options Wells Fargo analyst Steven Cahall had a Halloween surprise for investors, downgrading his rating on Paramount Global shares to “underweight” and cutting his stock price target from $19 to $13. And that even though he had just in early October downgraded…