Paramount Global
Courtney Armstrong Upped to COO of Paramount Pictures
Paramount Pictures has promoted Courtney Armstrong to be COO of the venerable film studio. Armstrong was most recently president of business affairs and administration, after joining Paramount from Warner Bros. in 2021. The executive will now oversee all day-to-day operations across business affairs, legal, and business development, for the studio’s live action, animation, and studio […]
- By
Why Paramount Got a Stock Upgrade Amid Open Deal Questions
With Skydance Media in an exclusive period to possibly finalize a deal to acquire Paramount Global and its controlling shareholder National Amusements (NAI), Wall Street analysts are discussing key open questions, such as the financing of a transaction and how it can be structured to satisfy shareholders beyond NAI boss Shari Redstone. But despite the […]
- By
Paramount Global Stock Price Soars as Skydance Media Deal Talks Progress
Paramount Global shares are soaring as talks of a deal with Skydance Media continue to heat up. The stock price rose by 15 percent Wednesday, all in the minutes leading up to the market close, after The Wall Street Journal reported that Paramount and its controlling shareholder National Amusements, led by Shari Redstone, have agreed to an […]
- By
Paramount Global Debt Cut to Junk Status by S&P Global
S&P Global has officially downgraded Paramount Global debt to junk status at BB+, from BBB-, or one level below investment grade. The credit rating agency made the move on “weak credit metrics,” with a stable outlook. The downgrade comes a month after Paramount was put on a negative watch by S&P Global for a possible […]
- By
‘SpongeBob SquarePants’ Restaurant to Open in Sao Paolo, Brazil
Nickelodeon’s SpongeBob SquarePants is getting a themed restaurant in Sao Paolo, Brazil. The hit franchise’s first official standalone restaurant will be known as Bob Esponja – Burguer & Restaurante and open its doors in April. With more than 1,000 square meters, it will have a capacity for 254 visitors and feature several themed spaces, including four food areas, one retail, […]
- By
Paramount Stock Pops After Apollo Bid for Film and TV Studio
Shares in Paramount Global soared on Wednesday after details of an acquisition proposal by the private equity firm Apollo became public. Paramount stock closed at $12.51 per share Wednesday, up nearly 12 percent for the day. The Wall Street Journal reported that Apollo made an $11 billion offer just for Paramount’s film and television studio. […]
- By
Paramount+ Sets Launch Details for Ad Tier in Canada, Australia, Premium Plan in France
Paramount Global’s streaming service Paramount+ has unveiled the launch timing and pricing for its international advertising-supported subscription offering, the so-called “Basic (with ads)” plan, in Australia and Canada. The ad tier will roll out in Canada in April, priced at C$6.99 ($5.16) monthly and C$61.99 for a year ($45.76), and in Australia in June, priced […]
- By
Paramount Global Sells Stake in Viacom18 for $517M
Paramount Global has agreed to sell its 13 percent stake in Indian media company Viacom18 to Reliance Industries. The sale price is approximately $517 million, according to a new securities filing. Reliance, a multinational conglomerate, is already the majority shareholder in Viacom18. Existing properties at Viacom18 include streaming service JioCinema and channels including Colors, Comedy […]
- By
Paramount’s CFO Is Focused on “Getting the Most Out of Every Single Dollar We Invest in Content”
Paramount Global is focused on “getting the most we possibly can out of every single dollar that we invest in content,” CFO Naveen Chopra told an investor conference on Wednesday. Speaking at the Morgan Stanley TMT Conference in San Francisco in a session that was webcast, he said: “We feel very proud of our content […]
- By
Paramount Promotes Lee Sears to President, International Markets Ad Sales
Paramount Global has promoted Lee Sears for the second time in less than a year as it looks to align its domestic and international broadcast, cable and streaming assets to create a global content powerhouse. “As we focus on driving earnings growth, it is critical that we drive commercial profitability across our business, in close […]
- By
Paramount Focuses on Earnings Growth But Wall Street Lacks Enthusiasm
The stock of Paramount Global, led by CEO Bob Bakish, was in Wall Street analysts’ focus on Thursday as they dissected its fourth-quarter 2023 earnings report from late Wednesday for signs of its outlook and possible deal future. As of Thursday morning, several analysts spoke of a stabilization of sorts in Paramount’s business trends, with […]
- By
Paramount, Citing Experiment During Strikes, to Cut Costs Per Title For Films, Series
After the Writers Guild and SAG-AFTRA strikes last year, and with every streaming service now laser-focused on profitability, Hollywood has been keeping a close watch on efforts to adjust content spend, either reducing spend overall, or finding ways to change the cost structure. At Paramount, reducing that programming spend has now become a top corporate […]
- By