Paramount co-CEOs George Cheeks, Brian Robbins and Chris McCarthy thanked staff in a memo today, obtained by Deadline, for tough months rocked by Skydance merger speculation. With that deal a no go, they said, they have plan, one mostly laid out at last week’s annual shareholders meeting, to take the company into the future.
While deals are not off the table, the focus of the recently installed executive trio will be to streamline the company, optimize streaming and look to sell off non-core assets. It’s thought likely Par will consider a sale of BET. It put the asset on the block last year but didn’t like the offers it got so yanked it off. Paramount+ is likely to partner with another streamer. The Office of the CEO, which replaced Bob Bakish in May, will also look to cut non-content costs.
The pep talk comes after Paramount’s...
While deals are not off the table, the focus of the recently installed executive trio will be to streamline the company, optimize streaming and look to sell off non-core assets. It’s thought likely Par will consider a sale of BET. It put the asset on the block last year but didn’t like the offers it got so yanked it off. Paramount+ is likely to partner with another streamer. The Office of the CEO, which replaced Bob Bakish in May, will also look to cut non-content costs.
The pep talk comes after Paramount’s...
- 6/12/2024
- by Jill Goldsmith
- Deadline Film + TV
A day after Skydance’s bid for the company officially ended, Paramount Global’s three co-CEOs are beginning to execute on their strategic plan for the company.
The executives — Brian Robbins, Chris McCarthy and George Cheeks — sent a note to staff Tuesday addressing the deal, and adding that the strategic plan they outlined at last week’s annual shareholder meeting is still very much their priority, adding that “work is already underway” on the plan.
“As you heard yesterday, the proposed transaction with Skydance Media is not moving forward,” the co-CEOs wrote. “So, what does this mean for Paramount? While the Board will always remain open to exploring strategic alternatives that create value for shareholders, we continue to focus on executing the strategic plan we unveiled last week during the Annual Shareholder Meeting, which we are confident will set the stage for growth for Paramount.”
That strategy — articulated last week...
The executives — Brian Robbins, Chris McCarthy and George Cheeks — sent a note to staff Tuesday addressing the deal, and adding that the strategic plan they outlined at last week’s annual shareholder meeting is still very much their priority, adding that “work is already underway” on the plan.
“As you heard yesterday, the proposed transaction with Skydance Media is not moving forward,” the co-CEOs wrote. “So, what does this mean for Paramount? While the Board will always remain open to exploring strategic alternatives that create value for shareholders, we continue to focus on executing the strategic plan we unveiled last week during the Annual Shareholder Meeting, which we are confident will set the stage for growth for Paramount.”
That strategy — articulated last week...
- 6/12/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
With the Skydance Media deal talks dead, the three executives leading Paramount Global’s Office of the CEO said they remain focused on a cost-cutting and growth plan for the media conglomerate as a standalone entity.
The trio — George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and Chief Executive Officer of Paramount Pictures and Nickelodeon — addressed the current situation in a companywide memo Wednesday. On Tuesday, Shari Redstone’s National Amusements, the controlling shareholder of Paramount Global, said it had ended merger talks with Skydance because it was unable “to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
“As you heard yesterday, the proposed transaction with Skydance Media is not moving forward. So, what does this mean for Paramount?” the execs wrote.
The trio — George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and Chief Executive Officer of Paramount Pictures and Nickelodeon — addressed the current situation in a companywide memo Wednesday. On Tuesday, Shari Redstone’s National Amusements, the controlling shareholder of Paramount Global, said it had ended merger talks with Skydance because it was unable “to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
“As you heard yesterday, the proposed transaction with Skydance Media is not moving forward. So, what does this mean for Paramount?” the execs wrote.
- 6/12/2024
- by Todd Spangler
- Variety Film + TV
It’s time to take a breather and look for a fresh start. That seems to be the motto for Paramount Global and its investors.
With Tuesday’s news that Shari Redstone has ended months-long talks about a takeover of Paramount by a consortium led by Skydance Media and RedBird Capital without a deal, Wall Street analysts are debating, again, the future of the entertainment giant and how to think about its stock. In early Wednesday trading, that was down 2 percent at $10.82, near its 52-week low of $10.12.
Her National Amusements (Nai), which controls Paramount, said it “supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the company’s board of directors to continue to explore opportunities to drive value creation for all Paramount shareholders.” Skydance CEO David Ellison argued in an email to staff that...
With Tuesday’s news that Shari Redstone has ended months-long talks about a takeover of Paramount by a consortium led by Skydance Media and RedBird Capital without a deal, Wall Street analysts are debating, again, the future of the entertainment giant and how to think about its stock. In early Wednesday trading, that was down 2 percent at $10.82, near its 52-week low of $10.12.
Her National Amusements (Nai), which controls Paramount, said it “supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the company’s board of directors to continue to explore opportunities to drive value creation for all Paramount shareholders.” Skydance CEO David Ellison argued in an email to staff that...
- 6/12/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
This just in tonight from Skydance Boss David Ellison as Paramount Global controlling shareholder Shari Redstone says “No” to Skydance’s offer to buy National Amusements. The Top Gun: Maverick and Geostorm producer has acknowledged to staff that Skydance’s bid to merge with Paramount has ended.
However, “we are stronger because of this process,” says the son of Oracle cofounder Larry Ellison.
David promises staff that Skydance, armed with more TV products in the company’s history, is “more confident than ever—not just about Skydance but about the future of entertainment and our ability to continue building a next-generation content company on our terms, with the greatest capital, creative and technological resources and talent in the industry.”
As Jill and I told you today, there are various reasons why this Skydance-Paramount Global merger didn’t shake out, read seeking consent for the deal from a “majority of the...
However, “we are stronger because of this process,” says the son of Oracle cofounder Larry Ellison.
David promises staff that Skydance, armed with more TV products in the company’s history, is “more confident than ever—not just about Skydance but about the future of entertainment and our ability to continue building a next-generation content company on our terms, with the greatest capital, creative and technological resources and talent in the industry.”
As Jill and I told you today, there are various reasons why this Skydance-Paramount Global merger didn’t shake out, read seeking consent for the deal from a “majority of the...
- 6/12/2024
- by Anthony D'Alessandro
- Deadline Film + TV
When David Ellison’s Skydance made a play for Paramount last fall it was how and when (not if) Shari Redstone would tie the knot. Paramount and Skydance worked together. He valued the studio and its crown jewel of a backlot and planned to keep the company together. He was offering her a nice bundle of cash for her stake in National Amusements.
They talked, and talked, and talked. Potential suitor Warner Bros Discovery faded away, as did Byron Allen, who made an actual offer for the company. Par and Skydance entered an exclusive negotiating period for the month of April. When the lock-up ended with no deal, doubt crept in. Sony jumped into the mix. Yet the two sides continued talking intensely up through this past weekend.
But Redstone, whose family holding Nai controls about 80% of Paramount, always had the last word, and the last word was no. She...
They talked, and talked, and talked. Potential suitor Warner Bros Discovery faded away, as did Byron Allen, who made an actual offer for the company. Par and Skydance entered an exclusive negotiating period for the month of April. When the lock-up ended with no deal, doubt crept in. Sony jumped into the mix. Yet the two sides continued talking intensely up through this past weekend.
But Redstone, whose family holding Nai controls about 80% of Paramount, always had the last word, and the last word was no. She...
- 6/12/2024
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
Shari Redstone, whose National Amusements owns a majority stake in Paramount Global, has called off long-running merger talks with David Ellison’s Skydance Media.
The decision comes as Paramount Global’s special committee was understood to be meeting on Tuesday morning before National Amusements lawyers notified them the deal was off.
A spokesperson for National Amusements told press it was unable to reach “mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai”.
They added, “Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing,...
The decision comes as Paramount Global’s special committee was understood to be meeting on Tuesday morning before National Amusements lawyers notified them the deal was off.
A spokesperson for National Amusements told press it was unable to reach “mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai”.
They added, “Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing,...
- 6/11/2024
- ScreenDaily
No deal. Shari Redstone has ended talks on the latest offer for Paramount Global from the consortium led by Skydance and RedBird Capital, placing the future of the entertainment company into a fresh period of uncertainty, a source confirms to The Hollywood Reporter.
Redstone is now looking to sell holding company National Amusements, which controls Paramount, alone to another potential suitor, The Wall Street Journal reported on Tuesday. But the Skydance team — which submitted its best and final offer in April — has long been betting that other suitors will eventually drop out.
Skydance had secured approval from Paramount’s independent board committee, in a sweetened deal that would see Paramount’s non-voting shareholders have the option to cash out at $15 per share. It would also have seen Skydance acquire Redstone’s National Amusements for about $2 billion.
National Amusements is a regional movie theater chain, however Sumner Redstone turned it into...
Redstone is now looking to sell holding company National Amusements, which controls Paramount, alone to another potential suitor, The Wall Street Journal reported on Tuesday. But the Skydance team — which submitted its best and final offer in April — has long been betting that other suitors will eventually drop out.
Skydance had secured approval from Paramount’s independent board committee, in a sweetened deal that would see Paramount’s non-voting shareholders have the option to cash out at $15 per share. It would also have seen Skydance acquire Redstone’s National Amusements for about $2 billion.
National Amusements is a regional movie theater chain, however Sumner Redstone turned it into...
- 6/11/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
After months of negotiations, Paramount Global’s controlling shareholder Shari Redstone has broken off merger talks with David Ellison’s Skydance.
National Amusements has “not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai,” said the Redstone family trust that controls Paramount.
“Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance.
“Nai supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.”
The two sides have been deep in discussions during and after a one-month exclusive negotiating period in April and Redstone at one point had favored the deal,...
National Amusements has “not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai,” said the Redstone family trust that controls Paramount.
“Nai is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance.
“Nai supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.”
The two sides have been deep in discussions during and after a one-month exclusive negotiating period in April and Redstone at one point had favored the deal,...
- 6/11/2024
- by Jill Goldsmith
- Deadline Film + TV
After more than six months of on-again-off-again talks, Shari Redstone has ended negotiations with David Ellison’s Skydance Media about a prospective merger with Paramount Global.
The news shocked the entertainment industry as there had been many signals this week that the sides were moving closer to a transaction. Redstone is Paramount Global’s controlling shareholder through National Amusements Inc., which owns 77% of the voting shares in Paramount. Paramount Global shares plummeted 7.9% in the final half-hour of trading Tuesday after the news of the Skydance talks ending broke, closing at $11.04 per share.
In a statement, Redstone’s Nai said, “National Amusements, Inc., the majority voting shareholder of Paramount Global, today announced that they have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
The statement continued, “Nai is grateful to Skydance for their months of...
The news shocked the entertainment industry as there had been many signals this week that the sides were moving closer to a transaction. Redstone is Paramount Global’s controlling shareholder through National Amusements Inc., which owns 77% of the voting shares in Paramount. Paramount Global shares plummeted 7.9% in the final half-hour of trading Tuesday after the news of the Skydance talks ending broke, closing at $11.04 per share.
In a statement, Redstone’s Nai said, “National Amusements, Inc., the majority voting shareholder of Paramount Global, today announced that they have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in Nai.”
The statement continued, “Nai is grateful to Skydance for their months of...
- 6/11/2024
- by Todd Spangler
- Variety Film + TV
CBS Entertainment president Amy Reisenbach came to the Banff World Media Festival on Tuesday amid unprecedented change in the global industry.
“It’s definitely a time of tumult and change,” Reisenbach said during an informal In Conversation With: series address. “Despite everything that’s going on, we have this fantastic year and we feel like we have all this momentum going into the next season.”
Reisenbach’s appearance in Banff came as CBS Entertainment-parent Paramount Global, the Hollywood studio led by controlling shareholder, Shari Redstone, weighs a possible takeover by Skydance and RedBird Capital, or other potential suitors. “I can’t comment on anything regarding M&a. It’s very much above my head,” she said at the outset of her talk.
But she did take the opportunity to cite George Cheeks, president and CEO of CBS, who is among a trio of three studio execs — including Chris McCarthy, president and...
“It’s definitely a time of tumult and change,” Reisenbach said during an informal In Conversation With: series address. “Despite everything that’s going on, we have this fantastic year and we feel like we have all this momentum going into the next season.”
Reisenbach’s appearance in Banff came as CBS Entertainment-parent Paramount Global, the Hollywood studio led by controlling shareholder, Shari Redstone, weighs a possible takeover by Skydance and RedBird Capital, or other potential suitors. “I can’t comment on anything regarding M&a. It’s very much above my head,” she said at the outset of her talk.
But she did take the opportunity to cite George Cheeks, president and CEO of CBS, who is among a trio of three studio execs — including Chris McCarthy, president and...
- 6/11/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Rihanna is proving to be a powerful force for Paramount Animation’s upcoming feature The Smurfs Movie.
Director Chris Miller led the film’s presentation at the Annecy Animation Festival on Tuesday, where he was joined on the stage by Paramount and Nickelodeon Animation president Ramsey Naito. The Smurfs Movie is based on the characters and work of artist Peyo and is set to hit theaters Feb. 14, 2025.
Miller (Puss in Boots) debuted work-in-progress footage from the movie’s opening sequence, along with a demo version of original music. The filmmaker went on to describe how Peyo’s art laid the groundwork for the film’s vision.
“The DNA in Peyo’s original drawings guide so many creative choices in the film,” Miller said. “It’s the blueprint for the kind of film I want to make. All of the action lines and thought bubbles from the comics are going in the movie,...
Director Chris Miller led the film’s presentation at the Annecy Animation Festival on Tuesday, where he was joined on the stage by Paramount and Nickelodeon Animation president Ramsey Naito. The Smurfs Movie is based on the characters and work of artist Peyo and is set to hit theaters Feb. 14, 2025.
Miller (Puss in Boots) debuted work-in-progress footage from the movie’s opening sequence, along with a demo version of original music. The filmmaker went on to describe how Peyo’s art laid the groundwork for the film’s vision.
“The DNA in Peyo’s original drawings guide so many creative choices in the film,” Miller said. “It’s the blueprint for the kind of film I want to make. All of the action lines and thought bubbles from the comics are going in the movie,...
- 6/11/2024
- by Ryan Gajewski
- The Hollywood Reporter - Movie News
Paramount Global, which continues to explore its M&a options, has updated the compensation plans for the three execs in the Office of the CEO and re-upped Chief People Officer Nancy Phillips.
Separate SEC filings from the company on Monday laid out details about the various exec contract changes.
George Cheeks, CEO of CBS; Chris McCarthy, CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, CEO of Paramount Pictures and Nickelodeon were installed in the Office of the CEO after the ouster of Bob Bakish in April. The three have jointly run the company since, and last week delivered a presentation at the company’s annual shareholder meeting amid mounting uncertainty about Paramount’s future ownership structure. As Skydance Media continues to negotiate a full takeover, multiple parties have surfaced as potential acquirers of National Amusements, the Shari Redstone-led entity that controls about 77% of Paramount’s voting shares.
Separate SEC filings from the company on Monday laid out details about the various exec contract changes.
George Cheeks, CEO of CBS; Chris McCarthy, CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, CEO of Paramount Pictures and Nickelodeon were installed in the Office of the CEO after the ouster of Bob Bakish in April. The three have jointly run the company since, and last week delivered a presentation at the company’s annual shareholder meeting amid mounting uncertainty about Paramount’s future ownership structure. As Skydance Media continues to negotiate a full takeover, multiple parties have surfaced as potential acquirers of National Amusements, the Shari Redstone-led entity that controls about 77% of Paramount’s voting shares.
- 6/10/2024
- by Dade Hayes
- Deadline Film + TV
As an M&a event looms on the horizon for Paramount Global, the three execs in the conglomerate’s “Office of the CEO” are now eligible for stepped-up severance payments in the event of a sale or merger — and the company also will award them cash bonuses for the time they serve as co-CEOs.
The move comes as Shari Redstone, Paramount’s controlling shareholder, is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended. Meanwhile, that protracted sale process has attracted other bidders interested in buying out Redstone’s National Amusements Inc., which owns 77% of the voting shares in Paramount, including Edgar Bronfman Jr. and Bain Capital.
On Monday, Paramount disclosed that the three members of the Office of the CEO — George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins,...
The move comes as Shari Redstone, Paramount’s controlling shareholder, is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended. Meanwhile, that protracted sale process has attracted other bidders interested in buying out Redstone’s National Amusements Inc., which owns 77% of the voting shares in Paramount, including Edgar Bronfman Jr. and Bain Capital.
On Monday, Paramount disclosed that the three members of the Office of the CEO — George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins,...
- 6/10/2024
- by Todd Spangler
- Variety Film + TV
The long-running saga of who may or may not buy Paramount Pictures parent Paramount Global took a turn on Monday with reports that Edgar Bronfman Jr. has entered the fray.
The former CEO of Seagram, vice-chairman of Vivendi Universal, and CEO of Warner Music, is said to have expressed interest in mounting a $2-2.5bn acquisition of Shari Redstone’s National Amusements, owner of a controlling interest in Paramount Global.
The report by The Wall Street Journal noted that Bronfman is backed by private equity company Bain Capital and at time of writing no formal bid had been submitted.
Redstone...
The former CEO of Seagram, vice-chairman of Vivendi Universal, and CEO of Warner Music, is said to have expressed interest in mounting a $2-2.5bn acquisition of Shari Redstone’s National Amusements, owner of a controlling interest in Paramount Global.
The report by The Wall Street Journal noted that Bronfman is backed by private equity company Bain Capital and at time of writing no formal bid had been submitted.
Redstone...
- 6/10/2024
- ScreenDaily
Paramount Global has a strong future ahead of it and so does broadcast television, despite the uncertainty that has enveloped Hollywood in general and Paramount in particular. That was the message sent Thursday by CBS chief George Cheeks, who last month was also tapped as one of three CEOs to steer Paramount Global through a period that is sure to be challenging no matter what happens with the company.
Cheeks acknowledged the merger and sale activity that has swirled around Paramount Global for nearly nine months during his keynote address at Variety‘s FYC Fest daylong conference held at West Hollywood’s 1 Hotel. But he also emphazied that the tri-part Office of the CEO, consisting of Paramount Pictures chief Brian Robbins and cable head Chris McCarthy, that was established after the ouster of Paramount Global CEO Bob Bakish has a long-term plan for running the company if the much-discussed transaction...
Cheeks acknowledged the merger and sale activity that has swirled around Paramount Global for nearly nine months during his keynote address at Variety‘s FYC Fest daylong conference held at West Hollywood’s 1 Hotel. But he also emphazied that the tri-part Office of the CEO, consisting of Paramount Pictures chief Brian Robbins and cable head Chris McCarthy, that was established after the ouster of Paramount Global CEO Bob Bakish has a long-term plan for running the company if the much-discussed transaction...
- 6/6/2024
- by Cynthia Littleton
- Variety Film + TV
Blue Bloods fans are still heartbroken that CBS has canceled Tom Selleck’s long-running series. However, some recent news could give fans of the family drama and police procedural some hope. Could there possibly be a spinoff?
Donnie Wahlberg on Blue Bloods / YouTube CBS Parent Company Head Hints At Blue Bloods Spinoff
Could there possibly be a spinoff series of everyone’s favorite police drama Blue Bloods? According to a recent report by TV Line, it seems more likely. The television industry publication reported that on Tuesday, Brian Robbins, the Paramount Global co-ceo made a surprising announcement. This was at the annual stockholders meeting.
In TV, new franchise extensions are coming for Dexter, Billions, and Blue Bloods.
Robbins also added that “CBS hit Fire Country shows huge promise.” For over six months, there has been a rumbling about a spinoff of that series named Sheriff Country, starring Lorena Baccarin.
However,...
Donnie Wahlberg on Blue Bloods / YouTube CBS Parent Company Head Hints At Blue Bloods Spinoff
Could there possibly be a spinoff series of everyone’s favorite police drama Blue Bloods? According to a recent report by TV Line, it seems more likely. The television industry publication reported that on Tuesday, Brian Robbins, the Paramount Global co-ceo made a surprising announcement. This was at the annual stockholders meeting.
In TV, new franchise extensions are coming for Dexter, Billions, and Blue Bloods.
Robbins also added that “CBS hit Fire Country shows huge promise.” For over six months, there has been a rumbling about a spinoff of that series named Sheriff Country, starring Lorena Baccarin.
However,...
- 6/6/2024
- by Georgia Makitalo
- TV Shows Ace
There are multiple offers on the table for Paramount, but the company’s three-headed ‘Office of the CEO’ has a plan if all the deals fall through.
Paramount Global is entering its seventh month of merger and acquisition discussions, and whether or not there is an end in sight remains a bit cloudy. In December, news first broke that the company had begun initial discussions with Warner Bros. Discovery about a potential combination of the two media conglomerates. Those talks came to naught, but more seriously interested parties have emerged to evaluate Paramount’s assets in the meantime. Earlier this week, the special committee established by Paramount to evaluate M&a opportunities approved a bid by Skydance Media and its owner David Ellison, but one of the company’s major shareholder has publicly expressed its disapproval of the deal. With all of the confusion over the company’s future, Paramount executives...
Paramount Global is entering its seventh month of merger and acquisition discussions, and whether or not there is an end in sight remains a bit cloudy. In December, news first broke that the company had begun initial discussions with Warner Bros. Discovery about a potential combination of the two media conglomerates. Those talks came to naught, but more seriously interested parties have emerged to evaluate Paramount’s assets in the meantime. Earlier this week, the special committee established by Paramount to evaluate M&a opportunities approved a bid by Skydance Media and its owner David Ellison, but one of the company’s major shareholder has publicly expressed its disapproval of the deal. With all of the confusion over the company’s future, Paramount executives...
- 6/6/2024
- by David Satin
- The Streamable
CBS
Blue Bloods fans are still devastated that CBS pulled the plug on the wildly popular primetime drama after almost 15 years.
The Friday night series is set to end at the end of 2024 after fourteen successful seasons. But, it looks like Blue Bloods may still live on and rumor has it there’s a spinoff in the works. Here’s what’s happening with the cancelled Blue Bloods series.
CBS – Exec Drops Blue Bloods Bomb
Earlier this year CBS execs confirmed that season 14 would be the final season of Blue Bloods, led by family Patriarch Tom Selleck. Over the past fourteen seasons, viewers at home fell in love with the family of cops.
When news broke that Blue Bloods was ending, fans began campaigning to save the show, and it looks like Tptb at Paramount heard them loud and clear.
This week Paramount CEO Brian Robbins spoke at the shareholders...
Blue Bloods fans are still devastated that CBS pulled the plug on the wildly popular primetime drama after almost 15 years.
The Friday night series is set to end at the end of 2024 after fourteen successful seasons. But, it looks like Blue Bloods may still live on and rumor has it there’s a spinoff in the works. Here’s what’s happening with the cancelled Blue Bloods series.
CBS – Exec Drops Blue Bloods Bomb
Earlier this year CBS execs confirmed that season 14 would be the final season of Blue Bloods, led by family Patriarch Tom Selleck. Over the past fourteen seasons, viewers at home fell in love with the family of cops.
When news broke that Blue Bloods was ending, fans began campaigning to save the show, and it looks like Tptb at Paramount heard them loud and clear.
This week Paramount CEO Brian Robbins spoke at the shareholders...
- 6/6/2024
- by Amanda Austin
- Celebrating The Soaps
While there are many cable TV shows that have gone on far too long and need to end, there are some titles that are canceled too soon when there is still plenty of potential for the story to continue. That was the case with ABC's Station 19, and then again with CBS' Blue Bloods.
The #SaveBlueBloods campaign has spread like wildfire across the internet, with fans of the show spamming comments on the network's official accounts with the hashtag to get noticed. The stars of the show have also joined the effort, rooting for a renewal of their series.
And even though Blue Bloods is still set to end with season 14, there is now a very promising update that could change everything.
Will There Be a Blue Bloods Spinoff?
It is too early to start popping champagne and celebrating the success of the campaign, but there are some very exciting rumors...
The #SaveBlueBloods campaign has spread like wildfire across the internet, with fans of the show spamming comments on the network's official accounts with the hashtag to get noticed. The stars of the show have also joined the effort, rooting for a renewal of their series.
And even though Blue Bloods is still set to end with season 14, there is now a very promising update that could change everything.
Will There Be a Blue Bloods Spinoff?
It is too early to start popping champagne and celebrating the success of the campaign, but there are some very exciting rumors...
- 6/6/2024
- by virginia-singh@startefacts.com (Virginia Singh)
- STartefacts.com
Blue Bloods might not be done yet. An extension of the popular CBS series might be in the works, a Paramount exec recently hinted.
CBS is considering ‘franchise extension’ for ‘Blue Bloods’ Tom Selleck as Frank Reagan in ‘Blue Bloods’ | John Paul Filo/CBS via Getty Images
The big Blue Bloods news came during a meeting for Paramount shareholders on June 4.
“We are building tomorrow’s billion-dollar brands right now,” Paramount Global co-ceo Brian Robbins said. “In TV, new franchise extensions are coming for Dexter, Billions, and Blue Bloods, and CBS’ hit Fire Country shows huge promise.”
CBS has already announced that a Fire Country spinoff, titled Sheriff Country, will debut during the 2025-26 broadcast season, while a Dexter prequel is moving forward at Showtime. Billions spinoffs are also in development, sources told The Hollywood Reporter in 2023. But this is the first time a spinoff of Blue Bloods has been mentioned.
CBS is considering ‘franchise extension’ for ‘Blue Bloods’ Tom Selleck as Frank Reagan in ‘Blue Bloods’ | John Paul Filo/CBS via Getty Images
The big Blue Bloods news came during a meeting for Paramount shareholders on June 4.
“We are building tomorrow’s billion-dollar brands right now,” Paramount Global co-ceo Brian Robbins said. “In TV, new franchise extensions are coming for Dexter, Billions, and Blue Bloods, and CBS’ hit Fire Country shows huge promise.”
CBS has already announced that a Fire Country spinoff, titled Sheriff Country, will debut during the 2025-26 broadcast season, while a Dexter prequel is moving forward at Showtime. Billions spinoffs are also in development, sources told The Hollywood Reporter in 2023. But this is the first time a spinoff of Blue Bloods has been mentioned.
- 6/6/2024
- by Megan Elliott
- Showbiz Cheat Sheet
The future of Blue Bloods doesn’t look as blue as expected. During a presentation at Paramount Global’s annual stockholders meeting on Tuesday, co-ceo Brian Robbins provided an exciting teaser: In TV, new franchise extensions are coming for ‘Dexter,’ ‘Billions,’ and ‘Blue Bloods.’ End of an Era for the Original Series Blue Bloods is set to conclude with its 14th season, finalizing a substantial run that began in 2010. The show stars Tom Selleck, who has portrayed New York City Police Commissioner Frank Reagan, a role that has cemented him as the family’s resilient patriarch. Despite its conclusion, the show’s popularity...
- 6/6/2024
- by Steve Delikson
- TVovermind.com
CBS’s police procedural TV show Blue Bloods can’t be called anything short of iconic, considering its mass following, stellar performance on the network, and star-studded cast led by TV legend Tom Selleck. Despite all these factors, in December 2023, it was revealed that Season 14 would be the finale of Blue Bloods.
Both the show’s stars and fans have been actively trying to revert the decision ever since, but the network doesn’t give in. However, there’s still hope for Blue Bloods, as the most recent update from Paramount implied.
Blue Bloods to Get a ‘Franchise Extension’
Recently, at the 2024 Paramount Global Annual Meeting of Stockholders, several franchises received huge updates. Apart from billion-dollar IPs mentioned by Paramount co-ceo Brian Robbins during the meeting, he also gave a peculiar hint at the Blue Bloods’ future — and apparently, it’s not quite as dark as we’d imagined!
“We...
Both the show’s stars and fans have been actively trying to revert the decision ever since, but the network doesn’t give in. However, there’s still hope for Blue Bloods, as the most recent update from Paramount implied.
Blue Bloods to Get a ‘Franchise Extension’
Recently, at the 2024 Paramount Global Annual Meeting of Stockholders, several franchises received huge updates. Apart from billion-dollar IPs mentioned by Paramount co-ceo Brian Robbins during the meeting, he also gave a peculiar hint at the Blue Bloods’ future — and apparently, it’s not quite as dark as we’d imagined!
“We...
- 6/5/2024
- by dean-black@startefacts.com (Dean Black)
- STartefacts.com
The end of Blue Bloods is almost upon us, but is it really the end of the beloved crime drama?
After S.W.A.T. was un-canceled earlier this year, Blue Bloods fans hoped there was a way forward for the long-running series.
Those hopes were dashed when the network confirmed last month that the back half of Blue Bloods Season 14 will 100% be the end for the show.
However, during Paramount’s annual stockholders meeting this week, we got our biggest indication that the franchise will not remain dormant for long.
According to TV Line, Paramount Global co-ceo Brian Robbins hinted a spinoff is in the works.
“In TV, new franchise extensions are coming for Dexter, Billions, and Blue Bloods,” the exec said.
CBS tends to keep beloved franchises alive with spinoffs
Spinoffs of popular CBS series aren’t a groundbreaking concept, with NCIS: Origins, NCIS: Tony & Ziva, and Criminal Minds: Evolution being some recent efforts.
After S.W.A.T. was un-canceled earlier this year, Blue Bloods fans hoped there was a way forward for the long-running series.
Those hopes were dashed when the network confirmed last month that the back half of Blue Bloods Season 14 will 100% be the end for the show.
However, during Paramount’s annual stockholders meeting this week, we got our biggest indication that the franchise will not remain dormant for long.
According to TV Line, Paramount Global co-ceo Brian Robbins hinted a spinoff is in the works.
“In TV, new franchise extensions are coming for Dexter, Billions, and Blue Bloods,” the exec said.
CBS tends to keep beloved franchises alive with spinoffs
Spinoffs of popular CBS series aren’t a groundbreaking concept, with NCIS: Origins, NCIS: Tony & Ziva, and Criminal Minds: Evolution being some recent efforts.
- 6/5/2024
- by Paul Dailly
- Monsters and Critics
The cancellation of Blue Bloods came as a heartbreaking surprise to the cop drama's legion of devoted fans.
Thousands took to social media to express their displeasure, and series star Tom Selleck blasted CBS for what he saw as a major error in judgment.
Now, it looks as though execs at the Eye Network might have finally seen the error of their ways.
According to a new report from TV Line, Brian Robbins, co-ceo of CBS' parent company Paramount, strongly hinted at the likelihood of a Blue Bloods spinoff during his most recent meeting with shareholders.
“In TV, new franchise extensions are coming for Dexter, Billions, and Blue Bloods,” Robbins said.
He added that “CBS’ hit Fire Country shows huge promise.”
News of the Fire Country spinoff comes as no surprise.
CBS has already announced that a project focusing on Morena Baccarin's Mickey Fox character is in the works.
Thousands took to social media to express their displeasure, and series star Tom Selleck blasted CBS for what he saw as a major error in judgment.
Now, it looks as though execs at the Eye Network might have finally seen the error of their ways.
According to a new report from TV Line, Brian Robbins, co-ceo of CBS' parent company Paramount, strongly hinted at the likelihood of a Blue Bloods spinoff during his most recent meeting with shareholders.
“In TV, new franchise extensions are coming for Dexter, Billions, and Blue Bloods,” Robbins said.
He added that “CBS’ hit Fire Country shows huge promise.”
News of the Fire Country spinoff comes as no surprise.
CBS has already announced that a project focusing on Morena Baccarin's Mickey Fox character is in the works.
- 6/5/2024
- by Tyler Johnson
- TVfanatic
Maybe Tom Selleck was right: The Blue Bloods universe may not be finished after all. In a presentation at Paramount’s annual stockholders meeting on Tuesday, Paramount Global co-ceo Brian Robbins hinted that a new Blue Bloods series is in the works following the CBS drama’s announced end later this year. In TV, new franchise extensions are coming for Dexter, Billions, and Blue Bloods, Robbins told shareholders, adding that CBS’ hit Fire Country shows huge promise. Now we knew that new offshoots of Dexter, Billions, and Fire Country were already in development, but nothing has been officially announced about a possible...
- 6/5/2024
- by Steve Delikson
- TVovermind.com
After CBS Entertainment President Amy Reisenbach last month permanently closed the door to Blue Bloods continuing beyond its upcoming final 8 episodes this fall, one of Paramount Global’s Office of the CEO members today opened the door to the franchise potentially carrying on.
During Paramount Global’s shareholder meeting this morning, Brian Robbins noted that Paramount is home of 14 brands across film and TV that have generated at least $1B in revenue, including NCIS, South Park, Yellowstone, SpongeBob SquarePants, Paw Patrol and Star Trek.
“We are building tomorrow’s billion dollar brands right now” he added. “In TV, new franchise extensions are coming for Dexter, Billions and Blue Bloods, and CBS’ hit Fire Country shows huge promise.”
Spinoffs for Dexter, Billions, Fire Country as well as NCIS have been announced; there has been no official word on a Blue Bloods offshoot yet.
During Paramount Global’s shareholder meeting this morning, Brian Robbins noted that Paramount is home of 14 brands across film and TV that have generated at least $1B in revenue, including NCIS, South Park, Yellowstone, SpongeBob SquarePants, Paw Patrol and Star Trek.
“We are building tomorrow’s billion dollar brands right now” he added. “In TV, new franchise extensions are coming for Dexter, Billions and Blue Bloods, and CBS’ hit Fire Country shows huge promise.”
Spinoffs for Dexter, Billions, Fire Country as well as NCIS have been announced; there has been no official word on a Blue Bloods offshoot yet.
- 6/5/2024
- by Nellie Andreeva
- Deadline Film + TV
The front of the Paramount Pictures studios in Los Angeles, California. (Stock image by Hannah Wernecke via Unsplash)
The key executive team at Paramount Global has unveiled a plan to move forward with a streaming-focused joint venture, as well as job cuts if its planned merger with Skydance Media fizzles out.
The plans call for expense reductions that would shave $500 million from Paramount’s budget, as well as the divestiture of “non-core assets,” according to CNBC. Where Paramount does spend on content and marketing, executives said the funds would have to be disbursed strategically and carefully.
“We’ll be thoughtful with how we deploy capital, with our world-class content being the priority,” said Paramount Pictures CFO Brian Robbins, who is one of three executives serving in the Office of the CEO.
“To be clear, $500 million in cost savings is just the beginning,” said George Cheeks, another Office of the CEO...
The key executive team at Paramount Global has unveiled a plan to move forward with a streaming-focused joint venture, as well as job cuts if its planned merger with Skydance Media fizzles out.
The plans call for expense reductions that would shave $500 million from Paramount’s budget, as well as the divestiture of “non-core assets,” according to CNBC. Where Paramount does spend on content and marketing, executives said the funds would have to be disbursed strategically and carefully.
“We’ll be thoughtful with how we deploy capital, with our world-class content being the priority,” said Paramount Pictures CFO Brian Robbins, who is one of three executives serving in the Office of the CEO.
“To be clear, $500 million in cost savings is just the beginning,” said George Cheeks, another Office of the CEO...
- 6/5/2024
- by Matthew Keys
- The Desk
Did the #SaveBlueBloods campaign work? Paramount Global co-ceo Brian Robbins reportedly hinted at the possibility of a Blue Bloods spinoff during a shareholders meeting on Tuesday, June 4. As it stands, Blue Bloods Season 14 Part 2 will be the final episodes and will air later this year on CBS. Robbins reportedly said during a Paramount shareholders meeting on June 4 that “in TV, new franchise extensions are coming for Dexter, Billions, and Blue Bloods,” according to TVLine. Robbins reportedly added that “CBS’ hit Fire Country shows huge promise,” presumably alluding to the upcoming Sheriff Country spinoff set for the 2025-2026 broadcast season. TV Insider has confirmed the accuracy of Robbins’ comments. Dexter and Billions‘ expanding franchises were already known to the public, but Blue Bloods‘ impending end has been the main headline for the show all season. Tom Selleck, Donnie Wahlberg, and more stars of the cop procedural have voiced their strong opinions...
- 6/5/2024
- TV Insider
Maybe Tom Selleck was right: The Blue Bloods universe may not be finished after all.
In a presentation at an annual stockholders meeting on Tuesday, Paramount Global co-ceo Brian Robbins hinted that a new Blue Bloods series is in the works following the CBS drama’s announced end later this year.
More from TVLineRochelle Aytes Departs S.W.A.T. as a Series Regular for CBS' WatsonFun Magnum, P.I. Facts From Tom Selleck's Memoir - Including Why He Thought the Show's Title Was 'Sh-ty'Elsbeth's Carrie Preston Talks 'Vulnerable' Season Finale, Pitches Role for Husband Michael Emerson
It was not clear if any...
In a presentation at an annual stockholders meeting on Tuesday, Paramount Global co-ceo Brian Robbins hinted that a new Blue Bloods series is in the works following the CBS drama’s announced end later this year.
More from TVLineRochelle Aytes Departs S.W.A.T. as a Series Regular for CBS' WatsonFun Magnum, P.I. Facts From Tom Selleck's Memoir - Including Why He Thought the Show's Title Was 'Sh-ty'Elsbeth's Carrie Preston Talks 'Vulnerable' Season Finale, Pitches Role for Husband Michael Emerson
It was not clear if any...
- 6/4/2024
- by Dave Nemetz
- TVLine.com
The three execs who lead Paramount Global’s “Office of the CEO” have called off their planned town hall meeting with employees that had been scheduled for Wednesday, June 5, citing “ongoing speculation regarding potential M&a.”
The trio — CBS CEO George Cheeks, Paramount CEO Brian Robbins and Chris McCarthy, CEO of Showtime/MTV Entertainment Studios — rescheduled the event for June 25. The move comes as Shari Redstone is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended and submitted for Redstone’s review over the weekend. Redstone is Paramount non-executive chair and the company’s controlling shareholder through National Amusements Inc.
“Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible,” the three executives wrote in a memo to employees. “By moving the date, our hope is to do just that.
The trio — CBS CEO George Cheeks, Paramount CEO Brian Robbins and Chris McCarthy, CEO of Showtime/MTV Entertainment Studios — rescheduled the event for June 25. The move comes as Shari Redstone is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended and submitted for Redstone’s review over the weekend. Redstone is Paramount non-executive chair and the company’s controlling shareholder through National Amusements Inc.
“Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible,” the three executives wrote in a memo to employees. “By moving the date, our hope is to do just that.
- 6/4/2024
- by Todd Spangler
- Variety Film + TV
A town hall for Paramount Global employees originally scheduled to take place Wednesday has been delayed until June 25.
In a note to employees obtained by Deadline, CEOs George Cheeks, Chris McCarthy and Brian Robbins recapped Tuesday morning’s annual shareholder meeting and also noted the rescheduling of the town hall. “Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible. By moving the date, our hope is to do just that,” they wrote.
The shift comes at a time that Paramount Global controlling shareholder, Shari Redstone, is mulling a merger offer from Skydance. The shareholder meeting largely skirted the topic of M&a, and instead gave Redstone a chance to make the case for the unorthodox Office of the CEO structure. She conceded it was unusual, but said it would harness the collective experience of three...
In a note to employees obtained by Deadline, CEOs George Cheeks, Chris McCarthy and Brian Robbins recapped Tuesday morning’s annual shareholder meeting and also noted the rescheduling of the town hall. “Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible. By moving the date, our hope is to do just that,” they wrote.
The shift comes at a time that Paramount Global controlling shareholder, Shari Redstone, is mulling a merger offer from Skydance. The shareholder meeting largely skirted the topic of M&a, and instead gave Redstone a chance to make the case for the unorthodox Office of the CEO structure. She conceded it was unusual, but said it would harness the collective experience of three...
- 6/4/2024
- by Anthony D'Alessandro and Dade Hayes
- Deadline Film + TV
The future of Paramount Global remains uncertain, with the Skydance-RedBird deal in the hands of Shari Redstone, and the three co-CEOs laying out their own plan for the company Tuesday morning.
With that in mind, the company has opted to postpone a scheduled all-employee town hall that had been set for Wednesday.
Paramount told employees that the town hall will now be held on Tuesday, June 25, suggesting that there should be more clarity on the company’s future by then.
“Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible,” the company wrote to employees. “By moving the date, our hope is to do just that.”
The company is in the middle of a critical week that could shape its future. Redstone is currently reviewing a takeover offer led by Skydance that would see the company...
With that in mind, the company has opted to postpone a scheduled all-employee town hall that had been set for Wednesday.
Paramount told employees that the town hall will now be held on Tuesday, June 25, suggesting that there should be more clarity on the company’s future by then.
“Given the ongoing speculation regarding potential M&a, we want to be able to speak to you with as much candor and transparency as possible,” the company wrote to employees. “By moving the date, our hope is to do just that.”
The company is in the middle of a critical week that could shape its future. Redstone is currently reviewing a takeover offer led by Skydance that would see the company...
- 6/4/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Paramount Global needs to (further) reduce its staff size to compete in today’s cutthroat media landscape. Perhaps it could start by trimming a few CEOs.
After Bob Bakish was unceremoniously (but richly) exited from the company, Paramount went with an “Office of the CEO” setup, the trio of George Cheeks, Chris McCarthy, and Brian Robbins. Those three, with a lead-in from controlling shareholder Shari Redstone, ran Paramount Global’s 2024 Investor Day presentation — and a brief (and very rehearsed) Q&a — on Tuesday.
Redstone’s is the final signature required for Paramount to be merged with Skydance; a formal announcement is likely in the coming days. Until then, mum is the word on that pending deal — and Paramount Global must present to investors like the offer doesn’t exist.
Coincidentally, the three men have a three-part plan to turn around this Titanic (and maybe even tow its pieces back to...
After Bob Bakish was unceremoniously (but richly) exited from the company, Paramount went with an “Office of the CEO” setup, the trio of George Cheeks, Chris McCarthy, and Brian Robbins. Those three, with a lead-in from controlling shareholder Shari Redstone, ran Paramount Global’s 2024 Investor Day presentation — and a brief (and very rehearsed) Q&a — on Tuesday.
Redstone’s is the final signature required for Paramount to be merged with Skydance; a formal announcement is likely in the coming days. Until then, mum is the word on that pending deal — and Paramount Global must present to investors like the offer doesn’t exist.
Coincidentally, the three men have a three-part plan to turn around this Titanic (and maybe even tow its pieces back to...
- 6/4/2024
- by Tony Maglio
- Indiewire
Paramount Global’s new leadership team set out their strategic priorities for the company, including $500m in cost savings, selling non-core assets and exploring streaming joint ventures with other media companies.
The plan was presented at the company’s annual meeting of shareholders today (June 4) by its recently established Office of the CEO, which took over from Bob Bakish in April.
The Office of the CEO comprises: George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon.
The presentation...
The plan was presented at the company’s annual meeting of shareholders today (June 4) by its recently established Office of the CEO, which took over from Bob Bakish in April.
The Office of the CEO comprises: George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon.
The presentation...
- 6/4/2024
- ScreenDaily
As Paramount Global controlling shareholder Shari Redstone mulls the terms of a merger between her conglom and Skydance, the network/studio/streaming service trotted out their best and brightest CEO troika this early Am in annual global stockholders meet to tout their hit parade of 14 billion dollar revenue earning franchises across all mediums, their assurance to cut $500 million in overhead, and maximize shareholder value and profits.
With Skydance’s David Ellison knocking on Paramount Global’s door with former NBCUniversal CEO Jeff Shell in tow to execute their own strategy, today’s presentation by Brian Robbins, President & CEO of Paramount Pictures and Nickelodeon; George Cheeks, President & CEO of CBS; and Chris McCarthy, President & CEO Showtime/MTV Entertainment Studios and Paramount Media Networks, was a bullhorn to shareholders that this administration has their stuff together, to prevent any possible nosediving of the stock currently, but also an underscoring that the trio...
With Skydance’s David Ellison knocking on Paramount Global’s door with former NBCUniversal CEO Jeff Shell in tow to execute their own strategy, today’s presentation by Brian Robbins, President & CEO of Paramount Pictures and Nickelodeon; George Cheeks, President & CEO of CBS; and Chris McCarthy, President & CEO Showtime/MTV Entertainment Studios and Paramount Media Networks, was a bullhorn to shareholders that this administration has their stuff together, to prevent any possible nosediving of the stock currently, but also an underscoring that the trio...
- 6/4/2024
- by Anthony D'Alessandro
- Deadline Film + TV
Investors in Paramount Global are waiting for word on whether the latest merger offer from Skydance Media is a go. But they didn’t get any update at the media conglomerate’s awkwardly timed annual shareholders meeting Tuesday.
Shari Redstone, Paramount Global’s chair and controlling shareholder, in her introductory remarks at the virtual shareholders meeting, did not mention the pending Skydance offer. Instead, she touted the company’s content assets and leadership across CBS, Paramount Pictures and its cable networks — and turned the floor over to the three members of its “Office of the CEO,” who took over at the end of April for the ousted Bob Bakish: CBS’s George Cheeks, Paramount Pictures’ Brian Robbins and Chris McCarthy, head of Showtime/MTV Entertainment Studios.
“While we recognize this is not a traditional management structure,” Redstone said, the three-in-a-box leadership team is intended to help the company “take...
Shari Redstone, Paramount Global’s chair and controlling shareholder, in her introductory remarks at the virtual shareholders meeting, did not mention the pending Skydance offer. Instead, she touted the company’s content assets and leadership across CBS, Paramount Pictures and its cable networks — and turned the floor over to the three members of its “Office of the CEO,” who took over at the end of April for the ousted Bob Bakish: CBS’s George Cheeks, Paramount Pictures’ Brian Robbins and Chris McCarthy, head of Showtime/MTV Entertainment Studios.
“While we recognize this is not a traditional management structure,” Redstone said, the three-in-a-box leadership team is intended to help the company “take...
- 6/4/2024
- by Todd Spangler
- Variety Film + TV
Paramount Global Non-Exec Chair Shari Redstone Touts Office Of CEO During Annual Shareholder Meeting
Shari Redstone, Paramount Global’s non-executive chair and controlling shareholder, sought to sell shareholders at the company’s annual meeting Tuesday on the potential of the three-member Office of the CEO.
Convening a video presentation produced like a TV morning show, she delivered brief remarks before tossing to George Cheeks, Chris McCarthy and Brian Robbins. The three execs have formed the Office of the CEO since the ouster of Bob Bakish in April. Hovering over the event, though only briefly alluded to, is a pending merger proposal by Skydance Media, which will transform Paramount yet again if it is finalized.
“Reducing our costs to be consistent with industry standards” is a key strategic objective, Redstone said. “This will then enable us to decrease debt, strengthen our balance sheet and continue to invest in the best-in-class content that has always been at our core. And overall, it would allow us to...
Convening a video presentation produced like a TV morning show, she delivered brief remarks before tossing to George Cheeks, Chris McCarthy and Brian Robbins. The three execs have formed the Office of the CEO since the ouster of Bob Bakish in April. Hovering over the event, though only briefly alluded to, is a pending merger proposal by Skydance Media, which will transform Paramount yet again if it is finalized.
“Reducing our costs to be consistent with industry standards” is a key strategic objective, Redstone said. “This will then enable us to decrease debt, strengthen our balance sheet and continue to invest in the best-in-class content that has always been at our core. And overall, it would allow us to...
- 6/4/2024
- by Dade Hayes
- Deadline Film + TV
Paramount Global’s new trio of co-CEOs laid out their vision for the Hollywood studio as the controlling shareholder, Shari Redstone, mulls a sweetened takeover offer from a buyer consortium led by Skydance and RedBird Capital.
Redstone addressed the investors as the meeting began, indicating the company’s most important goal was “driving value for all our shareholders,” which would come by reducing overall debt to strengthen the balance sheet and continue to invest in “best-in-class content.”
Redstone also addressed the new leadership structure at the studio with three co-CEOs. “While we recognize that this is not a traditional management structure, we are confident that it will enable them to move quickly to implement best practices throughout the company to drive improved performance,” Redstone added.
This opened the way for the new trio of executives – George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios; and Brian Robbins,...
Redstone addressed the investors as the meeting began, indicating the company’s most important goal was “driving value for all our shareholders,” which would come by reducing overall debt to strengthen the balance sheet and continue to invest in “best-in-class content.”
Redstone also addressed the new leadership structure at the studio with three co-CEOs. “While we recognize that this is not a traditional management structure, we are confident that it will enable them to move quickly to implement best practices throughout the company to drive improved performance,” Redstone added.
This opened the way for the new trio of executives – George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios; and Brian Robbins,...
- 6/4/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Und nun doch Skydance: Wie u. a. der gut informierte Filmindustrie-Journalist Matt Belloni in Puck berichtet, muss nur noch National-Amusements-Chefin Shari Redstone endgültig grünes Licht geben, dann kann David Ellison nach einem letzten nachgebesserten Angebot für die B-Aktionäre Paramount Global übernehmen.
Shari Redstone trifft die finale Entscheidung (Credit: Imago / Avalon.red)
Der Deal als solcher sei unter Dach und Fach, lassen die ersten Entertainment-Blogger wissen. Etwas mehr als einen Monat, nachdem das exklusive Verhandlungsfenster für Skydance um eine Übernahme von Paramount Global ausgelaufen war und es so ausgesehen hatte, als würde David Ellison mit seinem beim Aufsichtsrat wenig geliebten Angebot den Kürzeren ziehen, wird sich die junge Finanzierungs- und Produktionsfirma, die längst hinter den großen Marken von Paramount steht, zuletzt „Mission: Impossible“ und „Transformers“, nun doch durchsetzen. Während Sony/Apollo mit ihrem gerade noch so attraktiv erscheinenden Angebot wohl den Kürzeren zieht, hat Ellison die Oberhand gewonnen.
Nach Informationen des...
Shari Redstone trifft die finale Entscheidung (Credit: Imago / Avalon.red)
Der Deal als solcher sei unter Dach und Fach, lassen die ersten Entertainment-Blogger wissen. Etwas mehr als einen Monat, nachdem das exklusive Verhandlungsfenster für Skydance um eine Übernahme von Paramount Global ausgelaufen war und es so ausgesehen hatte, als würde David Ellison mit seinem beim Aufsichtsrat wenig geliebten Angebot den Kürzeren ziehen, wird sich die junge Finanzierungs- und Produktionsfirma, die längst hinter den großen Marken von Paramount steht, zuletzt „Mission: Impossible“ und „Transformers“, nun doch durchsetzen. Während Sony/Apollo mit ihrem gerade noch so attraktiv erscheinenden Angebot wohl den Kürzeren zieht, hat Ellison die Oberhand gewonnen.
Nach Informationen des...
- 6/4/2024
- by Thomas Schultze
- Spot - Media & Film
Shari Redstone, whose National Amusements owns a controlling interest in Paramount Pictures parent Paramount Global, is reportedly weighing up a modified takeover offer of around $8bn from David Ellison’s Skydance Media and his backers RedBird Capital.
On the eve of Paramount Global’s annual general meeting on Tuesday, CNBC reported that the latest offer would see Redstone receive $2bn for National Amusements, while Skydance would pay $4.5bn to buy out half of Paramount Global Class B shareholders at $15 per share.
Skydance and RedBird have reportedly offered to pay $1.5bn in cash to reduce Paramount Global debt.
The overall deal...
On the eve of Paramount Global’s annual general meeting on Tuesday, CNBC reported that the latest offer would see Redstone receive $2bn for National Amusements, while Skydance would pay $4.5bn to buy out half of Paramount Global Class B shareholders at $15 per share.
Skydance and RedBird have reportedly offered to pay $1.5bn in cash to reduce Paramount Global debt.
The overall deal...
- 6/3/2024
- ScreenDaily
Paramount: Now (finally) Under New Ownership! A special committee at the company has approved a deal that will merge Paramount Global with Skydance after David Ellison acquires National Amusements, Inc. (Nai) for about $2 billion.
The National Amusements theater chain has a controlling interest in Paramount. Skydance Media CEO Ellison is paying for that control, and then he’ll make Paramount buy his production company.
All told, it is expected to cost Ellison and his financial backers at RedBird Capital Partners in the ballpark of $8 billion to make this happen, as first reported by CNBC’s David Faber. On top of Shari Redstone’s $2 billion for her family’s Nai, $4.5 billion more will go to current Paramount shareholders; another $1.5 billion in cash will be contributed to Paramount’s balance sheet. The numbers are pretty fresh and could still change some, a person with knowledge of the goings-on tells IndieWire.
The...
The National Amusements theater chain has a controlling interest in Paramount. Skydance Media CEO Ellison is paying for that control, and then he’ll make Paramount buy his production company.
All told, it is expected to cost Ellison and his financial backers at RedBird Capital Partners in the ballpark of $8 billion to make this happen, as first reported by CNBC’s David Faber. On top of Shari Redstone’s $2 billion for her family’s Nai, $4.5 billion more will go to current Paramount shareholders; another $1.5 billion in cash will be contributed to Paramount’s balance sheet. The numbers are pretty fresh and could still change some, a person with knowledge of the goings-on tells IndieWire.
The...
- 6/3/2024
- by Brian Welk and Tony Maglio
- Indiewire
The future of Paramount may be decided in the next couple of days, with the ball now in controlling shareholder Shari Redstone’s court.
With the company set to hold its annual shareholder meeting Tuesday, Paramount’s board and the buyer consortium led Skydance and RedBird Capital have come to terms on a revised deal for the company. Now it is up to Redstone to approve the deal and move forward, or look at other options.
Because Redstone’s National Amusements was recused from the board talks, it is just beginning to review the proposal.
“We received the financial terms of the proposed Paramount/Skydance transaction over the weekend and we are reviewing them,” a spokesperson for Nai said.
Paramount is effectively controlled by Redstone and her National Amusements, which holds more than 70 percent of Class A voting shares.
As The Hollywood Reporter previously wrote last week, the new deal...
With the company set to hold its annual shareholder meeting Tuesday, Paramount’s board and the buyer consortium led Skydance and RedBird Capital have come to terms on a revised deal for the company. Now it is up to Redstone to approve the deal and move forward, or look at other options.
Because Redstone’s National Amusements was recused from the board talks, it is just beginning to review the proposal.
“We received the financial terms of the proposed Paramount/Skydance transaction over the weekend and we are reviewing them,” a spokesperson for Nai said.
Paramount is effectively controlled by Redstone and her National Amusements, which holds more than 70 percent of Class A voting shares.
As The Hollywood Reporter previously wrote last week, the new deal...
- 6/3/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Late last year, there were rumblings of a possible merger being considered with two movie studio giants — Warner Bros. and Paramount. It was reported that Zaslav met with Paramount Global CEO Bob Bakish in New York City to discuss a possible merger. The potential merger would bring many iconic entertainment franchises under one roof, including Star Trek, Harry Potter, Looney Tunes, Transformers, Mission: Impossible, DC, and more. It would also likely see the two streaming services — Max and Paramount+ — combine in order to more effectively challenge Netflix and Disney+.
Wall Street analysts were skeptical of that deal and knew that both companies would have to jump through significant hurdles in order for the deal to go through. That deal would ultimately fall through, but the New York Post is now reporting on a merger that has been sealed. Paramount and Skydance have just agreed to terms that will see both...
Wall Street analysts were skeptical of that deal and knew that both companies would have to jump through significant hurdles in order for the deal to go through. That deal would ultimately fall through, but the New York Post is now reporting on a merger that has been sealed. Paramount and Skydance have just agreed to terms that will see both...
- 6/3/2024
- by EJ Tangonan
- JoBlo.com
Updated with new timeline. Paramount Global and Skydance have agreed to terms on a merger, a person familiar with the deal talks has confirmed to Deadline, with Paramount controlling shareholder Shari Redstone taking a final look.
CNBC reported the stepped-up timeline earlier Monday. As Deadline and other media outlets reported over the weekend, a revised offer from Skydance had gained more traction, though it did not initially appear likely that anything would be firmed up before Tuesday’s annual shareholder meeting. That event was already set to be a significant one, with the three executives sharing the Office of the CEO laying out their strategic plans for the company.
Redstone, through National Amusements, controls 77% of the voting shares of Paramount.
Previously:
As Paramount Global approaches Tuesday’s annual shareholder meeting and a high-stakes town hall for employees the following day, new details are emerging about Skydance Media’s latest acquisition offer.
CNBC reported the stepped-up timeline earlier Monday. As Deadline and other media outlets reported over the weekend, a revised offer from Skydance had gained more traction, though it did not initially appear likely that anything would be firmed up before Tuesday’s annual shareholder meeting. That event was already set to be a significant one, with the three executives sharing the Office of the CEO laying out their strategic plans for the company.
Redstone, through National Amusements, controls 77% of the voting shares of Paramount.
Previously:
As Paramount Global approaches Tuesday’s annual shareholder meeting and a high-stakes town hall for employees the following day, new details are emerging about Skydance Media’s latest acquisition offer.
- 6/2/2024
- by Dade Hayes
- Deadline Film + TV
Director cum producer Michael Bay has proven his star-studded worth in the entertainment industry one too many times, especially through the masterpieces he helmed for the multi-billionaire Transformers franchise. That said, the 59-year-old artist seemingly had no intention for his robotic saga to get a crossover with Dwayne Johnson’s $712 million worth G.I. Joe franchise.
Michael Bay. | Credit: Jake’s Takes/YouTube.
Although it may seem surprising, this was Bay’s original decision regarding his franchise when this idea was proposed to him by Brian Robbins, the current CEO of Paramount, and was rightly so for a very understandable reason. However, Robbins seems to have eventually come out victorious over him, considering how a crossover movie between these two sagas is currently in the works.
Michael Bay Never Wanted a Transformers Crossover with Dwayne Johnson’s Saga
G.I. Joe may be considered one of the most critically let-down franchises of all time,...
Michael Bay. | Credit: Jake’s Takes/YouTube.
Although it may seem surprising, this was Bay’s original decision regarding his franchise when this idea was proposed to him by Brian Robbins, the current CEO of Paramount, and was rightly so for a very understandable reason. However, Robbins seems to have eventually come out victorious over him, considering how a crossover movie between these two sagas is currently in the works.
Michael Bay Never Wanted a Transformers Crossover with Dwayne Johnson’s Saga
G.I. Joe may be considered one of the most critically let-down franchises of all time,...
- 6/1/2024
- by Mahin Sultan
- FandomWire
A live-action Dungeons & Dragons TV series was in development for Paramount+ and had even been given an eight-episode, straight-to-series order by the streaming service, but Deadline now reports that the project is no longer moving forward.
However, the Dungeons & Dragons series isn’t entirely dead, as Hasbro Entertainment will be shopping it to other potential buyers. It’s also said the series will receive a creative update which will be tackled by a new creative team. The version which was sold to Paramount+ was overseen by Rawson Marshall Thurber (Skyscraper), who wrote the pilot script and was going to direct the first episode. Drew Crevello (WeCrashed) was brought on to serve as executive producer and showrunner last year.
The report states that Hasbro remains committed to the Dungeons & Dragons TV series, meaning that it will likely be a matter of when, not if, the project emerges elsewhere.
However, the Dungeons & Dragons series isn’t entirely dead, as Hasbro Entertainment will be shopping it to other potential buyers. It’s also said the series will receive a creative update which will be tackled by a new creative team. The version which was sold to Paramount+ was overseen by Rawson Marshall Thurber (Skyscraper), who wrote the pilot script and was going to direct the first episode. Drew Crevello (WeCrashed) was brought on to serve as executive producer and showrunner last year.
The report states that Hasbro remains committed to the Dungeons & Dragons TV series, meaning that it will likely be a matter of when, not if, the project emerges elsewhere.
- 5/30/2024
- by Kevin Fraser
- JoBlo.com
Skydance and RedBird Capital are sweetening their takeover deal for Paramount Global.
A source confirms to The Hollywood Reporter that the investor group, which also includes Kkr, has made a revised offer to Paramount’s independent board committee reviewing deals.
While the specifics of the new offer were not immediately available, it is believed to sweeten the deal for Paramount’s Class B shareholders, many of which have expressed concern about the original offer. Paramount is effectively controlled by Shari Redstone and her National Amusements, which holds more than 70 percent of Class A voting shares.
Class B shareholders have expressed concern that they are not getting the same value out of the deal that Redstone is, with some threatening lawsuits if the company moves forward with the deal.
The original deal on the table would see the Skydance-RedBird consortium acquire National Amusements’ stake in Paramount at a premium (given their...
A source confirms to The Hollywood Reporter that the investor group, which also includes Kkr, has made a revised offer to Paramount’s independent board committee reviewing deals.
While the specifics of the new offer were not immediately available, it is believed to sweeten the deal for Paramount’s Class B shareholders, many of which have expressed concern about the original offer. Paramount is effectively controlled by Shari Redstone and her National Amusements, which holds more than 70 percent of Class A voting shares.
Class B shareholders have expressed concern that they are not getting the same value out of the deal that Redstone is, with some threatening lawsuits if the company moves forward with the deal.
The original deal on the table would see the Skydance-RedBird consortium acquire National Amusements’ stake in Paramount at a premium (given their...
- 5/30/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Exclusive: The Paley Center for Media has appointed four new trustees to its board and added some high profile executives to its L.A. contingent on the West Coast.
Kristin Dolan, CEO of AMC Networks, Omar Abbosh, CEO of Pearson, Brad Karp, chair of Paul, Weiss, Rifkind, Wharton & Garrison, and Dennis Mathew, chairman-ceo of Altice USA are new to the board of trustees of the nonprofit programmer and think tank that explores all things media.
The Los Angeles Board of Governors is also expanding with Jesse Collins, founder and CEO of Jesse Collins Entertainment; Sharb Farjami, North America CEO of GroupM; Daryl Lee, Global CEO of McCann Worldgroup; Christian Muirhead, co-chairman of WME; and Ben Samek, CEO of Banijay America. They join Bela Bajaria, Jennifer Salke, Kevin Beggs, Greg Berlanti, Frances Berwick, Casey Bloys, Robert A. Boyd II, Campbell Brown, Brian Robbins, George Cheeks, Agnes Chu, Channing Dungey, Michael Kassan,...
Kristin Dolan, CEO of AMC Networks, Omar Abbosh, CEO of Pearson, Brad Karp, chair of Paul, Weiss, Rifkind, Wharton & Garrison, and Dennis Mathew, chairman-ceo of Altice USA are new to the board of trustees of the nonprofit programmer and think tank that explores all things media.
The Los Angeles Board of Governors is also expanding with Jesse Collins, founder and CEO of Jesse Collins Entertainment; Sharb Farjami, North America CEO of GroupM; Daryl Lee, Global CEO of McCann Worldgroup; Christian Muirhead, co-chairman of WME; and Ben Samek, CEO of Banijay America. They join Bela Bajaria, Jennifer Salke, Kevin Beggs, Greg Berlanti, Frances Berwick, Casey Bloys, Robert A. Boyd II, Campbell Brown, Brian Robbins, George Cheeks, Agnes Chu, Channing Dungey, Michael Kassan,...
- 5/29/2024
- by Jill Goldsmith
- Deadline Film + TV
In a highly anticipated announcement, Paramount Global and Charter Communications said they’re extending their longstanding partnership with a multi-year distribution agreement for Paramount’s full portfolio of linear cable networks, CBS owned-and-operated broadcast stations and direct-to-consumer streaming services.
In addition to CBS, subscribers to Charter’s Spectrum will keep BET, Comedy Central, MTV, Nickelodeon, and Paramount Network, as well as premium service Paramount+ with Showtime.
In a new twist that echoes Charter’s landmark deal with Disney last year, the agreement calls for the ad-supported versions of Paramount’s direct-to-consumer services, Paramount+ Essential and BET+ Essential to be included at no additional cost to Charter’s Spectrum TV customers. Charter also will make Paramount’s direct-to-consumer products available for purchase to its Internet-only customers.
But unlike the Disney pact, Charter is not dropping any cable networks. Its Disney deal eliminated Baby TV, Disney Junior, Disney Xd, Freeform, Fxm, Fxx,...
In addition to CBS, subscribers to Charter’s Spectrum will keep BET, Comedy Central, MTV, Nickelodeon, and Paramount Network, as well as premium service Paramount+ with Showtime.
In a new twist that echoes Charter’s landmark deal with Disney last year, the agreement calls for the ad-supported versions of Paramount’s direct-to-consumer services, Paramount+ Essential and BET+ Essential to be included at no additional cost to Charter’s Spectrum TV customers. Charter also will make Paramount’s direct-to-consumer products available for purchase to its Internet-only customers.
But unlike the Disney pact, Charter is not dropping any cable networks. Its Disney deal eliminated Baby TV, Disney Junior, Disney Xd, Freeform, Fxm, Fxx,...
- 5/23/2024
- by Jill Goldsmith
- Deadline Film + TV
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