Future of Paramount+ among merger talks

[Danja]

He's a clown. I don't follow him or seek his content out, but his videos have crossed my path on several occasions. I can't recall him fluking a single scoop with his "over here at ... we get to speak to a lot of people within the industry" schtick.

A broken clock has a better hit rate.

At one point, he was saying his "sources" were telling him that Sony was going to win out. (Oops!)

I knew Sony wasn't going to make it (he knows nothing about U.S. law).

 

[CorporalClegg]

So Jeff Shell is going to be the new president?

JFC This is why we can't have nice things.

 

[Danja]

Skydance Deal In Hand, Paramount Lays Out What Happens If A Rival Offer Emerges

Paramount has laid out some terms of its planned merger with David Ellison’s Skydance including what happens if another offer surfaces.

deadline.com

At this point, the "go-shop" is a formality.

Shari Redstone has made her wishes known. Trying to break up Skydance and Paramount is as futile as trying break up a couple that's engaged to be married.

 

[ELCHawk]

So.....for someone who is not an expert on the entertainment industry and too lazy to read this whole Ten page thread, is this merger good or bad for Trek? That is all I care about.

 

[Nerys Myk]

So.....for someone who is not an expert on the entertainment industry and too lazy to read this whole Ten page thread, is this merger good or bad for Trek? That is all I care about.

On the surface it looks good.

 

[ELCHawk]

On the surface it looks good.

Thank you so much! Could you elaborate?

 

[Nerys Myk]

Thank you so much! Could you elaborate?

Skydance and Kurtzman have worked together in the past, including on the Kelvin films. Ellison is a SF fan.

 

[ELCHawk]

Thank you!

 

[fireproof78]

So.....for someone who is not an expert on the entertainment industry and too lazy to read this whole Ten page thread, is this merger good or bad for Trek? That is all I care about.

Well, there is a shared history, as Nerys mentions. There's also the fact that it has a year of regulatory review to go through so it won't be finalized until third quarter 2025.

So, who really knows at this point?

 

[Danja]

Announcement of Rival Bid for Paramount Global Pulled by Business Wire

An announcement distributed by Business Wire about a supposed new bid for Paramount Global was withdrawn later in the day.

variety.com

Apex said it would assume Paramount’s debt totaling approximately $15.8 billion and pay the $400 million breakup fee to the Skydance investor group. Apex also committed to investing approximately $10 billion into Paramount’s working capital post-closing as part of Apex’s business plan for the company. The investment company said its offered purchase price is “contingent on Paramount retaining all its assets through closing (i.e., direct and indirect subsidiaries, affiliates, and material contracts).”

In its offer, Apex “emphasized that its priority in this transaction was to minimize personnel disruption and, to the extent possible, preserve Paramount’s existing workforce, whose efforts will be required to implement Apex’s business plan,” the company said.

Apex Capital Trust is a “multinational holding company and a qualified institutional investor in key finance and fintech sectors,” the New York-based company says. Apex also has developed proprietary technology for phone-to-phone sharing of battery charge and remote phone recharging. In a related investment, Apex Trust has acquired 40% ownership of Simmtronics, a multinational technology company manufacturing phones and other electronic devices.

What is Shari Redstone getting from all this? That's what killed the Skydance deal in June.

 

[M'rk son of Mogh]

Why does this now sound way worse to me?

 

[JoeZhang]

It’s a fake!

 

[Danja]

Announcement of Rival Bid for Paramount Global Pulled by Business Wire

An announcement distributed by Business Wire about a supposed new bid for Paramount Global was withdrawn later in the day.

variety.com

BusinessWire (the original source) has retracted the story. Variety has described the press release as "seemingly bogus".

For now, the Skydance deal is still on track.

According to a report by Bloomberg, (Apex General Counsel) Tatiana Logan said in an emailed statement that the purported offer is superior to the Skydance deal and is contingent on Paramount not selling off any of its subsidiaries. “We are prepared to provide all necessary documentation for comprehensive due diligence,” Logan wrote, according to Bloomberg. “Like most other trusts, Apex Capital Trust is not public facing.”

 

[Danja]

Paramount Global Steels Itself For New Round Of Layoffs As Q2 Earnings Hit, End Of Skydance “Go-Shop” Period Nears

Paramount Global is planning a new round of layoffs, adding to an eventful month with quarterly earnings out Thursday and the Skydance deal in place.

deadline.com

 

[JoseNoodles]

Jeezus

 

[Danja]

Paramount Co-CEOs Say Talks Heating Up On Streaming Partnerships, Asset Sales Ahead Of Skydance Merger

Paramount co-CEOs said talks are active and things moving ahead on a streaming partner and asset sales ahead of the merger with Skydance.

deadline.com

 

[Danja]

Paramount Layoffs Begin; Co-CEOs Tell Staffers Media Company Has Reached “An Inflection Point” As “Industry Continues To Evolve”

Paramount Global has initiated the first wave of layoffs as it looks to reduce its U.S. workforce by 15%.

deadline.com

 

[fireproof78]

Yup. The losses their posting made they inevitable.

 

[Mage]

Paramount Television Studios Shut Down by Paramount Global Cost Cuts

Paramount Television Studios, known for series such as "Jack Ryan" and "Time Bandits" is being shuttered under cost cuts by Paramount Global

variety.com

 

[Dukhat]

Paramount Television Studios Shut Down by Paramount Global Cost Cuts

Paramount Television Studios, known for series such as "Jack Ryan" and "Time Bandits" is being shuttered under cost cuts by Paramount Global

variety.com

But we're still getting SFA (in 2026) and some comedy show, sometime!

And apparently some movie about the KT's past that I've heard absolutely nothing more about since it was announced!