Latest in Corporate Affairs

Ending years of fitful discussions that played out against a backdrop of operatic corporate drama and media industry consolidation, CBS and Viacom have finally agreed to merge. The deal reunites the companies, pooling assets such as Paramount Pictures, CBS, Showtime and MTV in a new entity to be called ViacomCBS Inc.…

CBS and Viacom have agreed to a price for their long-awaited merger and plan to formalize the deal with an announcement after the close of trading today, sources tell Deadline. The "exchange ratio" — how many shares of each company will be traded in the all-stock translation — had been a major consideration in…

Tumblr, once a major force in social media, founded by a 19-year-old and bought by Yahoo for $1.1 billion, has been unloaded by Verizon Media for far less than that to Auttomatic, the parent company of WordPress. The companies did not disclose financial terms but multiple press reports pegged the value at less than…

UPDATED with closing stock prices. Shares of CBS slipped 2% after early gains and Viacom’s dropped 5% Monday as investors reacted to word that the companies were near the finish line in their merger negotiations. The boards of both companies worked through the weekend to hammer out terms of their long-expected…

EXCLUSIVE: "When we start thinking about our shows, it’s how do we do better than we did the last time," declares Marvel Television's chief Jeph Loeb as the small screen arm of the comic cyclopean heads into a new hydra (no pun totally intended) of offerings. "We will never be a factory. We don't know how to be a…

Ahead of the CBS-Viacom merger, Viacom has re-upped Paramount Pictures Chairman and CEO Jim Gianopulos to a new, multi-year contract. In addition, Paramount's current production president Elizabeth Raposo has extended her contract. Gianopulos has been running the studio since 2017, following the tenure of the late…

The largest pay-TV providers in the U.S. saw video subscriber losses more than triple to 1.53 million in the second quarter, according to the latest report from Leichtman Research Group. The tally marks is up dramatically from the 420,000 losses in the second quarter of 2018. LRG based the figures on its findings for…

Shares of luxury exhibitor iPic, which operates 16 theaters in nine states including New York and California, jumped 19% on Friday on 10 times their normal trading volume. The rally isn’t likely to last, though, as word came Thursday from the SEC that the bankrupt company’s stock is set to be delisted next week from…

Tribune Media, a local station power soon to be acquired by Nexstar Media Group, posted mixed results for its fiscal second quarter. The company, which owns 42 local TV stations and cable network WGN America, reported revenue of $484 million in the period, a shade lower than Wall Street analysts’ consensus forecasts…

CBS Television Stations and CBS Interactive unveiled plans today to accelerate the rollout of CBSN Local in time for the 2020 election push. The direct-to-consumer streaming news service is headed to all 13 major U.S. markets where CBS Television Stations have local news operations. The ad-supported CBSN Local’s…

Reporting second-quarter results on the same day that sister company Viacom reported its own stellar financials, CBS set records for revenue, adjusted operating income and earnings per share. The EPS figure of $1.16 beat Wall Street estimates by three cents and revenue of $3.81 billion also cleared the bar set by…

AMC Entertainment’s stock perked up Thursday after the top exhibitor announced second-quarter results that exceeded Wall Street’s expectations thanks to Avengers: Endgame and other blockbusters. Net income totaled $49.4 million, more than double the $22.2 million recorded in the year-earlier period. On a per-share…