OMAHA, Neb. — Warren Buffett revealed that he dumped Berkshire Hathaway’s entire Paramount stake at a loss. “I was 100% responsible for the Paramount decision,” Buffett said at Berkshire’s annual shareholder meeting. “It was 100% my decision, and we’ve sold it all and we lost quite a bit of money.” Berkshire owned 63.3 million shares … Read more
Shari Redstone, chair of Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on Tuesday, July 11, 2023. David A. Grogan | CNBC Skydance Media is prepared to walk away from its offer for Paramount Global unless it receives a firm commitment from controlling shareholder Shari Redstone, following the … Read more
Shari Redstone, Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, July 11, 2023. David A. Grogan | CNBC Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest in acquiring the company for about $26 billion, according to … Read more
Here are the most important news items that investors need to start their trading day: 1. Climbing Stocks continued their gains on Monday ahead of a Federal Reserve meeting and the release of major corporate earnings. The S&P 500 climbed 0.32% while the Nasdaq Composite and Dow Jones Industrial Average rose 0.35% and 0.38%, respectively. … Read more
Bob Bakish, president and chief executive officer of Viacom, attends the fourth day of the annual Allen & Company Sun Valley Conference, July 11, 2023 in Sun Valley, Idaho. David A. Grogan | CNBC Paramount Global CEO Bob Bakish is stepping down, the company announced Monday, as merger negotiations with Skydance Media continue. Bakish will … Read more
Bob Bakish, CEO of Paramount, speaks with CNBC’s David Faber on Sept. 6, 2023. CNBC In what could easily be a plotline from HBO’s hit show “Succession,” Paramount Global plans to replace Chief Executive Officer Bob Bakish with a cohort of existing division heads on Monday in a chessboard-altering move designed to accelerate the company’s … Read more
Bob Bakish, then president and chief executive officer of Viacom Inc., speaks during the Mobile World Congress Americas event in Los Angeles, California, U.S., on Tuesday, Oct. 22, 2019. Patrick T. Fallon | Bloomberg | Getty Images Paramount Global’s board is preparing to fire Chief Executive Officer Bob Bakish as soon as Monday morning, according … Read more
Paramount Global and Skydance Media are making progress on a deal that would merge the media companies and buy out controlling shareholder Shari Redstone, according to people familiar with the matter. Paramount Global’s special committee, in charge of accepting or rejecting transactions, and David Ellison’s Skydance Media, backed by private equity firms KKR and RedBird … Read more
Tanika Ray, Alyson Fouse, Kym Whitley, Yvette Nicole Brown and Tisha Campbell attend Bounce TV’s “Act Your Age” Los Angeles Series Premiere at The London West Hollywood at Beverly Hills on February 27, 2023 in West Hollywood, California. Charley Gallay | Getty Images EW Scripps, one of the largest local TV broadcasters in the U.S., … Read more
The best way to get investors to stop focusing on something is to stop telling them at all. Netflix said Thursday it will no longer report quarterly membership numbers and average revenue per membership starting in the first quarter of 2025. This is a significant change for the company and for the so-called “streaming wars,” … Read more
