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Paramount Stock Plunge Shows Perils Of Trying To Give Wall Street The Ol’ Streaming Razzle-Dazzle
Was it the Bumblebee bit?
Paramount Global stock has plunged more than 20% since the company’s investor presentation Tuesday, including a 3% dip today. The vanishing of almost $5 billion in market value, after the company formerly known as ViacomCBS declared it was going all-in on streaming, has left even die-hard…
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20 Comments Comment on Paramount Stock Plunge Shows Perils Of Trying To Give Wall Street The Ol’ Streaming Razzle-Dazzle
Tom Cruise, Shari Redstone Jump In On Paramount As Renamed ViacomCBS To Spend $6B On Streaming Content In 2024
The CFO of ViacomCBS, soon to be known as Paramount, said Tuesday that the company is looking hard for "efficiencies" at its traditional businesses to divert as much cash it can to streaming, where investment will pass $6 billion by 2024.
That’s up from $2.2 billion last year, the streamer’s first. (Netflix laid out…
ViacomCBS CEO Bob Bakish Sees 100M Streaming Subs By 2024 As Company Rebrands
ViacomCBS CEO Bob Bakish said the company now anticipates 100 million streaming subscribers in 2024 – well above a previous forecast of 65M-75M, after record ads in the fourth quarter and amid a rebranding of the company to Paramount – (officially ‘Paramount Global’ but the company prefers to be called just ‘Paramount…
ViacomCBS To Rebrand As Paramount Global
ViacomCBS is rebranding to become Paramount Global, effective February 16, the latest giant pivot in a rapidly transforming media and entertainment landscape. The new name nods to the company’s storied studio and its centerpiece streaming network Paramount+, which launched in March 2021.
“An iconic global company…
ViacomCBS Sees Gains In Workforce Diversity In Second DEI Report Since Merger
Ethnic diversity at ViacomCBS' U.S. operations nosed up to 37.7% from 36.2% over the past year and, at the VP level or higher, moved to 27.7% from 24.9%, according to the company's second DEI (Diversity, Equity & Inclusion) report since Viacom and CBS merged in late 2019.
Among growth at the VP+ levels, Black…
Comcast, ViacomCBS, Lionsgate! M&A Speculation Swirls As Earnings Hit: Will Wall Street’s Streaming Obsession Ease As Legacy Businesses Revive?
ViacomCBS Chair Shari Redstone was doing the rounds at Sun Valley but contrary to reports, she did not have a meeting with Comcast CEO Brian Roberts at the Allen & Co. mogul mountain retreat, according to a person familiar with the situation. But the Philly-based conglom has been the subject of constant deal…
Les Moonves Finally Strikes Deal With ViacomCBS Over Exit; Donating Big Bucks Settlement To Charity
Nearly three years after Les Moonves was tossed off his perch at CBS over allegations of sexual misconduct, the onetime corporate powerhouse has finally settled disputes over his $120 million exit package with the Sheri Redstone-controlled company.
"The disputes between Mr. Moonves and CBS have now been resolved, and…
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Former Top CBS Exec Joseph Ianniello Denies Unjust Enrichment Claim In Shareholder Lawsuit
Joseph Ianniello, the former acting CBS CEO, denied claims of unjust enrichment and other allegations in a shareholder lawsuit contesting the 2019 merger of Viacom and CBS.
The suit in Delaware Chancery Court largely targets majority owner Shari Redstone for allegedly stacking the Viacom board with allies and jamming…
“This Is Not Your Father’s Viacom – Or My Father’s Either”, Shari Redstone Says At Paramount+ Unveiling
Shari Redstone, chair of ViacomCBS, stepped out out in force Wednesday, announcing that the company about to be discussed for the next three hours “is not your father’s Viacom. And it’s not my fathers' either.”
Redstone was kicking off a streaming event months in the making ahead of the launch of Paramount+ on March 4…
Delaware Court To Hear Shareholder Suit Vs. Shari Redstone In Viacom-CBS Merger
A Delaware Chancery Court Wednesday rejected Shari Redstone's motion to dismiss a shareholder lawsuit claiming she breached her fiduciary duty by pushing allies to ram through the Viacom-CBS merger at stockholder expense in a quest to attain the status of "media magnate" like her father, the late Sumner Redstone.
A…
‘The Comey Rule’ Director Billy Ray Jokes Donald Trump Will Sic IRS On Him; “Grateful” ViacomCBS Moved Up Airing Event Series To Pre-Election
"I imagine we will be on his radar and I think it is likely the IRS will start auditing my taxes, but that's just a guess," The Comey Rule director Billy Ray said today on how Donald Trump will react to the upcoming Showtime event series. "I think at the very least, I'm in for a mean nickname on Twitter," the Captain…
- Breaking
- TV
CBS Entertainment Boss George Cheeks Names Chris Ender As New Communications Chief
As they say, it couldn't have happened to a nicer guy – in the best way.
Nearly 25 years after joining CBS as a media relations executive, Chris Ender today was named communications chief for the CBS Entertainment Group.
"Reporting to me, Chris will be responsible for all public relations, media relations and…
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