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