Liquor scion Edgar Bronfman Jr. is preparing to bid for Paramount Global less than a week before an $8 billion merger with Skydance Media becomes official, according to a report. Bronfman, the entertainment mogul and son of the late Seagram CEO Edgar Bronfman Sr., is engaged in talks with potential investors about backing a bid … Read more
Paramount Global began a massive layoff on Tuesday that aims to hit 2,000 jobs as the struggling entertainment giant prepares to complete a merger with movie studio Skydance Media, the company said. Paramount’s three co-CEOs circulated a memo to staff indicating that the job cuts would be made in three phases and continue throughout the … Read more
Paramount Global wrote down the value of its cable networks by nearly $6 billion and announced it would cut 15% of its jobs on Thursday, even as the company’s broadcast business reported its first quarterly profit. Paramount shares rose more than 5% in extended trading. The loss reflects a shrinking audience for cable TV networks … Read more
A powerful media family torn apart by jealousy and rivalry. A granddaughter rushes to the aging patriarch’s arm as he withers very publicly. Lies, betrayal and lawsuits. These aren’t the machinations of the fictional Roy family from “Succession,” but the dramas that have engulfed the very real Redstone clan, whose well-documented dysfunction partially inspired the … Read more