Tag: $Paramount

Paramount Global stock soared on reports that the beleaguered media company and Skydance moved closer to a merger deal, according to The Wall Street Journal.

Private equity firm Apollo Global Management has offered $11 billion for Paramount Global’s Paramount Pictures film studio, a person with knowledge of the offer said on Wednesday, adding to takeover interest in the media conglomerate.

Paramount Global long the subject of talk that it might be sold, continued to balance a fast-growing but unprofitable streaming business with a collection of declining television and movie assets in late 2024.

Paramount Global announced Tuesday it is laying off about 800 employees, or roughly 3% of its workforce, according to a person familiar with the matter.

Roughly 123.4 million people watched the Kansas City Chiefs defeat the San Francisco 49ers at the Super Bowl on TV and streaming platforms, the most-watched Super Bowl ever, according to preliminary Nielsen ratings released by CBS on Monday.

Paramount Global stock jumped in premarket trading Wednesday after a report said media mogul Byron Allen has offered $14 billion to acquire the company.

Paramount Global shares rose 3% in premarket trade, as CNBC reported that David Ellison’s Skydance Media is interested in leading a deal to buy the media company.

 Skydance Media CEO David Ellison is exploring an all-cash bid to acquire entertainment giant Paramount Global’s parent National Amusements, a person familiar with the matter said on Wednesday.

Paramount stock extended gains in premarket trading Monday after a report that the parent of Paramount may be sold.

Shares of Paramount  were rising after The Wall Street Journal reported the media company may bundle its streaming services with Apple.

The streaming wars are no longer just about subscriber growth. Paramount Global added just 700,000 subscribers in the second quarter, compared to 4.1 million in the first quarter.