Paramount Global

Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company's digital streaming services, CBS All Access and CBSN. The Cable Networks segment includes Showtime Networks, CBS Sports Network, and Smithsonian Networks. The Publishing segment manages Simon & Schuster's consumer book publishing business with imprints such as Simon & Schuster, Pocket Books, Scribner, and Atria Books. The Local Media segment handles CBS Television Stations and CBS Local Digital Media, with revenues generated primarily from advertising sales and retransmission fees. The company was founded by Sumner Murray Redstone in 1986 and is headquartered in New York, NY.

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Paramount is in trouble: The one-time media giant's ad sales are plummeting, and so is its stock price. Would-be buyers are kicking the tires, but no one seems in a hurry to make a deal — the price will surely keep going down.

Why Paramount's problems should worry the rest of the media giants

Comcast

Paramount Global has held recent talks with Comcast about joining forces in streaming through a partnership or joint venture, among several potential strategic options the entertainment company is pursuing, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Paramount discussed streaming deal with Comcast, WSJ reports

The two companies have recently discussed a streaming partnership or joint-venture for Paramount+ and Peacock.

Paramount Discussed Streaming Deal with Comcast

Yesterday, Berkshire Hathaway's quarterly stock holdings report revealed that the company trimmed its Paramount stake by 32%. Since the position is widely believed to be Warren Buffett's, the news will likely weigh on the stock.

Buffett's Berkshire Trims Paramount: Should You Sell, Too?

Berkshire Hathaway, the conglomerate run by billionaire investor Warren Buffett, offloaded about 30.4 million shares from its investment in Paramount Global.

Warren Buffett's Berkshire Hathaway dumps millions of Paramount shares

This year with more media mergers and acquisitions anticipated, one of the biggest questions is whether Paramount PARA PARA Global will be sold. There have been indications that Shari Redstone, a controlling shareholder via the family owned National Amusements Inc. holding company, is open to the possibility that the media company could be sold.

A Few Companies Are Interested In Acquiring Paramount Global

Apple

Helmerich & Payne

Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) sold off about 10 million shares or nearly $2 billion of Apple (AAPL) stock in the final quarter of 2023, according to the firm's 13-F filing, among a number of changes to its portfolio.

Buffett's Berkshire Hathaway Trimmed Positions in HP, Apple, and Paramount Global in Q4

Paramount Global (NASDAQ:PARA) shares fell over 5.5% in pre-market trading on Thursday after it was revealed Warren Buffett had sold his stake in the company over the fourth quarter. Berkshire Hathaway Inc (NYSE:BRK.A), Buffett's investment company, reduced its stake in Paramount from 93.7 million shares to 63.3 million shares, around a US$400 million reduction.

Paramount Global shares tumble as Buffett cuts stake

Shares of Paramount Global traded in the red after hours on Wednesday following the news that Warren Buffett's Berkshire Hathaway pared its holdings in the company.

Paramount Global shares fall 6% after Warren Buffett cuts stake

Berkshire Hathaway owned a 15% stake in Paramount, which has been exploring a possible sale, and the expectation is that he will soon dump his remaining position, a source told The Post.

Paramount shares plunge after Warren Buffett's Berkshire Hathaway cuts stake in media giant

Chevron

Berkshire sold 10 million shares of Apple and now holds 905 million shares, or nearly half of the company's equity portfolio.

Berkshire Sells Apple, Paramount, HP Stock, Buys More Chevron

Sirius XM Holdings Inc

StoneCo

Among key moves, Buffett's Berkshire Hathaway bought Chevron in the fourth quarter, while reducing Apple and Paramount.

Warren Buffett Plays Stock Market Defense Again — Here Are His Top Q4 Moves

The companywide layoffs at Paramount Global impacted about 20 employees at CBS News, including correspondents Catherine Herridge and Jeff Pegues, several sources said today. CBS News did not comment on the cuts, with some of the names of those let go first reported by the New York Post.

CBS News Lays Off 20 Amid Paramount Global's Companywide Cuts

Paramount Global (NASDAQ:PARA) is axing around 800 jobs or around 3% of its workforce as it sets its sights on returning to profit growth amid a wave of cost-cutting, reports revealed. It is expected to affect both workers based in the United States, who will be told on Tuesday, and those in international offices, according to a memo from chief executive officer Bob Bakish to employees.

Paramount Global cuts 800 jobs days after record Super Bowl

Paramount will focus its resources on its "most powerful, resonant franchises, films and series" and produce fewer local, international originals, CEO Bakish had said.

Paramount Global slashing 800 jobs amid takeover talks, record Super Bowl: report

Chief Executive Bob Bakish says in an internal company memo that returning Paramount to earnings growth is a top priority.

Paramount to Cut 800 Jobs Even as CEO Bakish Touts ‘Blockbuster' Super Bowl

Company that owns CBS, broadcaster of NFL showpiece, announces 3% reduction in global workforce

Paramount cuts 800 staff two days after Super Bowl was biggest ever TV show

Paramount Global is reportedly cutting 800 jobs on the heels of a record audience of 123 million views for Super Bowl Sunday, according to an internal memo published by the The Hollywood Reporter

Paramount to cut 800 jobs even after Super Bowl broadcast notched record: report

Paramount Global said on Tuesday it is laying off about 800 employees, or roughly 3% of its workforce, CNBC reported, citing a person familiar with the matter.

Paramount Global to cut 800 jobs - CNBC

Paramount Global is opened in the red this morning after announcing plans of lowering its headcount by about 3.0%. The mass media company will lay off some 800 employees in total.

Paramount layoffs: 800 employees to lose jobs

Paramount Global has begun a planned round of layoffs, telling U.S.-based employees that those affected by the cutbacks will be notified by the end of Tuesday. An internal memo from CEO Bob Bakish (read it below) did not disclose numbers.

Paramount Global Layoffs Begin; CEO Bob Bakish Tells Departing Employees, “Your Talents Have Helped Us Advance Our Mission”

Paramount Global CEO Bob Bakish announced the company will lay off hundreds of employees Tuesday, just a day after CBS announced Super Bowl viewing records.

Paramount Global lays off about 800 employees, a day after announcing record Super Bowl ratings

NEW YORK , Feb. 12, 2024 /PRNewswire/ -- Paramount Global (NASDAQ: PARA; PARAA), alongside its brands, industry affiliates, and community partners, orchestrated a series of impactful events in Las Vegas leading up to this past Sunday's game to shine a light on important societal issues.  Through its Content for Change  (CFC) initiative, Paramount Global seeks to harness the power of content to combat bias and harmful stereotypes, transforming how the world sees people.

Paramount's Content for Change Delivers Impactful Initiatives in Las Vegas

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Canadian Imperial Bank of Commerce

Genuine Parts

Huntington Bancshares

Iron Mountain

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In January 2024, we received $6851.67 in dividend income. Leggett & Platt was the highest dividend payer this month.

Bert's January Dividend Income Summary

This latest deal extends a partnership between the studio and production company that launched in 2021 HOLLYWOOD, Calif. , Feb. 8, 2024 /PRNewswire/ -- Paramount Pictures announced today that it has renewed its first look development deal with Ryan Reynolds' Maximum Effort Productions for an additional three-year term, taking the studio's partnership with the production company through December 2026.

PARAMOUNT PICTURES ANNOUNCES RENEWAL OF MULTI-YEAR FIRST LOOK DEAL WITH RYAN REYNOLDS' PRODUCTION COMPANY MAXIMUM EFFORT

News for Paramount Global Stock (PARAA)