Tag: Paramount
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Paramount+ Loses 1.3 Million Subscribers Ahead of Skydance Acquisition
Paramount released its Q2 2025 earnings report Thursday, along with comments from Non-Executive Chair Shari Redstone and Co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins. The report showed that Paramount+ reached 77.7 million subscribers, a decrease of 1.3 million for the quarter. Paramount cited “the expiration of an international hard bundle deal” as the reason…
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Paramount and Skydance Announce Anticipated Closing Date of August 7
Yesterday, the FCC gave Paramount Global and Skydance Media approval to move ahead with their merger. Today, the two companies have shared that the anticipated closing date of the deal is August 7, 2025. In Friday’s announcement, Paramount and Skydance also said that stock shares for the “New Paramount” will begin trading on the Nasdaq…
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Paramount and Skydance Merger is Approved by the FCC
The FCC has approved the transfer of Paramount Global’s broadcast licenses to Skydance Media, clearing the way for the $8 billion acquisition of Paramount by Skydance. Plans for the acquisition were shared in June 2024, but those plans quickly fell apart. The companies picked up the discussion again and in July 2024, the boards of…
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Paramount to Shut Down Multiple Channels Including Nickelodeon In International Markets Amid Cost-Cutting Measures
Paramount Global, the American media conglomerate, is set to discontinue several of its television channels in Poland by the end of 2025, according to a spokesperson for Orange Polska in an interview with wirtualnemedia.pl. The affected channels include TeenNick, NickMusic, Polsat Comedy Central Extra, and a suite of MTV-branded channels: MTV 80s, MTV 90s, MTV…
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Paramount to Pay $16 Million to Settle Trump Lawsuit Over “60 Minutes” Interview
Today Paramount Global, the parent company of CBS, has agreed to pay $16 million to settle a lawsuit filed by President Donald Trump. The lawsuit, lodged in the Northern District of Texas, alleged that an interview with Vice President Kamala Harris, Trump’s Democratic opponent in the 2024 presidential race, aired on CBS’s “60 Minutes” was…
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South Park Creators Threaten Lawsuit Against Paramount’s New CEO (If the Merger Happens) Over Its Streaming Rights
In a brewing Hollywood controversy, Jeff Shell, the RedBird Capital executive poised to become president of the new Paramount if its merger with Skydance Media is finalized, faces accusations of improperly interfering in contract negotiations involving South Park creators Trey Parker and Matt Stone. According to a June 21 letter obtained by The Hollywood Reporter,…
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DIRECTV Partners with Paramount for a New MyKids Genre Pack
DIRECTV and Paramount have partnered to bring Paramount’s primary linear channels and all 15 CBS-owned local broadcast stations to DIRECTV’s Genre Packs, including a new package – My Kids. MyKids is a family friendly package with Paramount’s Nickelodeon suite, Disney, Warner Bros. Discovery, and more. The package also includes Disney+. You can sign up for…
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Paramount is Laying Off Hundreds of Employees Including at Its Cable TV Networks
In a move reflecting broader industry challenges, BET, a cornerstone of Black entertainment and culture, is implementing layoffs across multiple departments as part of parent company Paramount Global’s ongoing efforts to streamline operations. The announcement was made by BET CEO Scott Mills in a memo to staff on Wednesday, June 25, 2025, obtained by Variety.…
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Paul Harvey Estate Sues Paramount Global Over Unauthorized Use of “The Rest of the Story” in “Landman”
The estate of legendary radio host Paul Harvey has filed a federal lawsuit against Paramount Global, accusing the media giant of copyright infringement for using a 90-second excerpt from Harvey’s iconic program “The Rest of the Story” in the Paramount+ series “Landman” without permission. The complaint, filed in a New York federal court, alleges that…
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Paramount is Laying Off Several Hundred Employees
Paramount has informed staff that it will be laying off 3.5% of its workforce, impacting several hundred employees, as the company deals with the decline of pay-TV and continues to shift focus to streaming. Co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins sent a memo to staff Tuesday morning, letting them know that the majority…