deadline.com
www.latimes.com
Has Shari Redstone publicly come forward and accepted the bid? Because multiple prior stories of "Paramount has accepted a bid" have fallen apart after she rejected them. So I'll believe it when I see it.Looks like the Paramount Saga is over. National Amusements has accepted the bid from SkyDance to buy the company.
David Ellison's goal for Paramount: Make it a 'media and technology' company
The day after Paramount's board approved a merger agreement with Skydance Media, tech scion David Ellison laid out his plans for the newly-combined company.
Looks like the Paramount Saga is over. National Amusements has accepted the bid from SkyDance to buy the company.
David Ellison's goal for Paramount: Make it a 'media and technology' company
The day after Paramount's board approved a merger agreement with Skydance Media, tech scion David Ellison laid out his plans for the newly-combined company.
www.latimes.com
Who'd want cable channels in a cord-cutting world, particularly zombified channels devoid of any value like MTV, VH1 and Teen Nick? They're better off shutting them down and taking the loss.
finance.yahoo.com
Which is fine except selling CBS will be a lot harder than it looks... unless unfettered deregulation becomes a thing.Running linear 24/7 TV channels is not consistent with Ellison's goal of being a media & technology company.
David Ellison's goal for Paramount: Make it a 'media and technology' company
The day after Paramount's board approved a merger agreement with Skydance Media, tech scion David Ellison laid out his plans for the newly-combined company.
Unless the IP is included (as past rumored deals distinctly excluded) then it's highway robbery and those buyers are total fools.The people who work there:
Paramount in Talks to Sell BET Network for $1.6 Billion
(Bloomberg) -- Paramount Global is in exclusive talks to sell its Black Entertainment Television network to buyers that include BET Chief Executive Officer Scott Mills and Chinh Chu, who runs the New York-based private equity firm CC Capital.Most Read from BloombergMicrosoft Orders China Staff...
deadline.com
www.hollywoodreporter.com
Who'd be able to buy them when the industry already rapidly consolidated and the available pool of buyers is totally depleted? Nexstar, Tegna and Scripps are unavailable, Apollo is disinterested in Cox, and Sinclair can't sell a whole bunch of small-market stations they've had on the block for months. Utterly ridiculous.More, including speculation that in addition to BET, the non-network stations that CBS owns (KCAL, Los Angeles, KMAX, Sacramento, KPYX, San Francisco, WBFS, Miami, WTOG, Tampa, WUPA, Atlanta, WBXI, Indianapolis, WSBK, Boston, WKBD, Detroit, WLNY, Long Island, WPSG, Philadelphia, WPKD, Pittsburgh, KTXA, Dallas and KSTW, Seattle) could be sold off:
David Ellison and Jeff Shell Say Paramount Can Be “Winner” in Streaming, Plan $2B in Cost Savings
The Skydance Media team and Paramount's three CEOs spoke to the investor community early Monday morning, with Ellison arguing that Paramount needs to become a "tech hybrid."
The advantage to spinning the indies as opposed to the network stations or the network itself is that it's much easier to do in small bites with multiple smaller operators---guys who couldn't swallow CBS whole or even the owned stations group.
There is no reason for anyone to buy a station that has long been the junior station in a duopoly with the CBS owned-station or have been uncompetitive so as not to interfere with the non-CBS-owned affiliate. Sell KCAL? Great, you could make a fortune, only KCBS loses their news department because it was long ago merged into KCAL. WPKD could be sold but they'd lose a good chunk of their programming thanks to all those KDKA overflow newscasts.
Hearst did that as an insane vanity purchase and should not be seen as a benchmark for anything. Good grief.
So what happens to KCAL? No one would pay for a station with massive gaps in their schedule because they lose all the news programming. Insanity.
Assuming there's a sucker out there that wants to overpay for a station like that, then would pay exorbitant fees to CBS over and over again. Just throw money into an incinerator, it's better off that way.
That's if CBS wanted to sell those stations at substantial losses.
Which removes said smaller operators (if there are any left) and ethnic and religious broadcasters. So that leaves the big chains that can't (Nexstar, Tenga, Sinclair, Scripps and Gray) or won't (Apollo, Hearst and Graham) buy anything.
