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The Paramount Saga

Major layoffs today: Paramount Initiates Next Round Of Layoffs In Ongoing Effort To Cut 15% Of U.S. Workforce

deadline.com

CBS Broadcasting Layoffs, Part Of Broader Paramount Cuts, Slammed By IBEW As “A Hard Pill To Swallow”

The IBEW, which is the largest union representing CBS employees, is slamming the latest round of Paramount layoffs affecting CBS workers.
deadline.com deadline.com

www.thewrap.com

CBS News Anchor Jeff Glor Is Out as Part of Paramount Layoffs

CBS Saturday Morning co-host Jeff Glor is being let go as part of the latest round of Paramount layoffs on Tuesday.
www.thewrap.com www.thewrap.com
 
Jeff Glor is a real trouper. He remained loyal to the network that ejected him ignominiously from the CBS Evening News anchor chair. I wish him all the best.

Anna Werner and Ben Tracy have also been laid off, according to Deadline.
deadline.com

CBS News’ Jeff Glor Among Those Departing Amid Latest Round Of Paramount Global Layoffs

The Paramount Global round of layoffs today have impacted CBS News once again, with special correspondent and CBS Saturday Morning co-host Jeff Glor among those departing, according to two sources familiar with the cutbacks. Glor was the anchor of CBS Evening News from 2017 to 2019. He has been...
deadline.com deadline.com
 
The SkyDance acquisition of Paramount will go to the FCC. Incoming chairman Brendan Carr says he will review the 60 Minutes interview of Kamala Harris, that became an issue in the election:

www.hollywoodreporter.com

Incoming FCC Chairman Says ’60 Minutes’ Complaint “Likely to Arise” in Review of Skydance Deal

"I think the status quo, particularly when it comes to legacy media, needs to change," Carr said during a Fox News interview Tuesday.
www.hollywoodreporter.com www.hollywoodreporter.com

Carr said. “There’s also a news distortion complaint at the FCC having to do with CBS, and CBS has a transaction before the FCC, and I’m pretty confident that that news distortion complaint over the CBS 60 Minutes transcript is something that’s likely to arise in the context of the FCC’s review of that transaction.”
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This is unprecedented that the government would insert itself in the editing of an interview because the new president complained.
 
It appears that the Paramount merger with Skydance will close on April 7. Stockholders are being asked to choose between accepting a cash offer for their stock, or an exchange to new stock receiving 1.533 shares for every existing share of old stock. So you get more stock in a company that's losing value. That's quite a choice.

cordcuttersnews.com

Paramount & Skydance Push to Finalize Their Merger on March 20 Amid FCC Hurdles | Cord Cutters News

Paramount Global and Skydance Media are racing to finalize their $8 billion merger by the end of this month, with both companies expressing optimism about closing the deal as scheduled on March 20, as announced in a court hearing this week. The high-stakes merger, which would unite Paramount’s...
cordcuttersnews.com cordcuttersnews.com

Meanwhile the FCC says their review is moving slowly:

deadline.com

FCC Chairman Brendan Carr Suggests That Skydance-Paramount Merger Review Is Far From Finished

FCC Chairman Brendan Carr said that the agency’s review of the proposed Skydance-Paramount Global merger is far from finished, as the two companies have said that they expect to complete the deal by the summer. “At this point we haven’t made a lot of progress on any transaction at the agency,”...
deadline.com deadline.com

deadline.com

Paramount-Skydance Deal And Other Mergers Could Be Blocked Over DEI Policies, FCC Chief Brendan Carr Says

Paramount Global and other companies trying to gain the government's blessing for mergers must eliminate DEI policies, FCC Chairman Brendan Carr said.
deadline.com deadline.com
 
Last edited:
TheBigA said:
It appears that the Paramount merger with Skydance will close on April 7. Stockholders are being asked to choose between accepting a cash offer for their stock, or an exchange to new stock receiving 1.533 shares for every existing share of old stock. So you get more stock in a company that's losing value. That's quite a choice.
Click to expand...
Not a stockholder, so completely unbiased. IDK the specifics of this offer, but based on the history of other media offerings, I'd take the cash and run. This is Not investing advice, ask your investment professional. (Had to throw that disclaimer in)
 
What they should do is make the CBS television Network and Paramount + its own entity. Spin out the studio and the Viacom properties.
 
i think what will happen is Skydance becomes Paramount Skydance and the TV side is rebranded back to CBS Corporation and spun off with CBS it's own company again, with Paramount+ shutting down and merging into either Max, Hulu, Peacock, Prime Video or Netflix as a streaming platform with all Paramount+ library content contracts either going with whoever merges with Paramount+ or split up into several services.
 
Will_H_69_9 said:
i think what will happen is Skydance becomes Paramount Skydance and the TV side is rebranded back to CBS Corporation and spun off with CBS it's own company again, with Paramount+ shutting down and merging into either Max, Hulu, Peacock, Prime Video or Netflix as a streaming platform with all Paramount+ library content contracts either going with whoever merges with Paramount+ or split up into several services.
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They won’t allow a streaming merger. CBS needs a platform for their content.
 
Don CT said:
They won’t allow a streaming merger. CBS needs a platform for their content.
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They'd still have it---in the same way FOX sold its interest in Hulu, but streams its shows there.

There are too many streaming platforms and CBS, as a broadcast network, is too weak to power its own. Arguably, so's NBC. Even a Paramount+/Peacock merger isn't going to produce a platform with the reach and profitability of Hulu/Disney+.

Barring a breakout hit (and as big as it was, "Yellowstone" wasn't enough), I think you'll see both those platforms (Paramount+ and Peacock) partner up, as Will says, with either Max, Hulu, Amazon Prime or Netflix.

Apple+ is a prestige house now (thanks, "Severance"!) and probably wouldn't want the TV stuff from either of them, though it could use a better film library.
 
Netflix doesn’t need help and most likely will never get approved. I could maybe see Paramount absorbed into Max but not merged.
 
Don CT said:
Netflix doesn’t need help and most likely will never get approved. I could maybe see Paramount absorbed into Max but not merged.
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It wouldn't be a merger. Look for Paramount and Universal to shutter their streaming platforms and pay one of the other streamers to carry their TV shows and movies. It's a lot less expensive than the operating costs for their own platforms.
 
michael hagerty said:
It wouldn't be a merger. Look for Paramount and Universal to shutter their streaming platforms and pay one of the other streamers to carry their TV shows and movies. It's a lot less expensive than the operating costs for their own platforms.
Click to expand...
Peacock isn’t going anywhere since Comcast just signed a new extension with the IOC.
 


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