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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CBS News said Wendy McMahon will take over as its new CEO and president.

CBS News names Wendy McMahon as new chief

She is named chief executive following Neeraj Khemlani's resignation.

Wendy McMahon Takes on Larger Role at CBS News, Syndication Business

The changes in CBS News leadership also include the return of a sole figure with the title of news division president. Longtime network veteran Ingrid Ciprian-Matthews will become president, with editorial oversight of all CBS News platforms. She most recently was executive vice president for newsgathering.

Ingrid Ciprian-Matthews Named President Of CBS News

Wendy McMahon has been named president and chief executive officer of CBS News and Stations and CBS Media Ventures, according to an announcement from CBS Chief Executive George Cheeks. McMahon's newly created role will include singular oversight of CBS News and stations, as well as CBS's domestic syndication business.

CBS names Wendy McMahon as president and CEO of CBS News and CBS Media Ventures

CBS has named a new boss at CBS News following the exit of co-president Neeraj Khemlani, who was fired from the network amid a slew of HR complaints from employees.

CBS names Wendy McMahon president and CEO of CBS News after exit of Neeraj Khemlani

Embattled CBS News co-president Neeraj Khemlani, whose two-year cost-cutting reign was marked by clashes with high-profile anchors and HR complaints, is leaving the network.

CBS News chief Neeraj Khemlani stepping down after tumultuous 2-year reign

The president of CBS News, Neeraj Khemlani, stepped down on Sunday after two years on the job, the New York Times reported.

CBS News president Khemlani steps down - New York Times

CBS is shaking up the leadership ranks of its news and local station group

Head of CBS News, Neeraj Khemlani, Stepping Away From His Role

Neeraj Khemlani, the president and co-head of CBS News and Stations, is stepping down from his role, according to a Sunday report from Variety. Khemlani told employees in a memo on Sunday he is leaving his current position for a new “multi-year first-look” deal at CBS, the report said. It is not immediately clear who will succeed Khemlani.

CBS News chief Neeraj Khemlani reportedly stepping down

Embattled CBS News co-president Neeraj Khemlanj has been telling people he's been pushed out after a tumultuous two-year reign, The Post has learned.

CBS News president Neeraj Khemlani tells confidants he's out: sources

The sale comes after Paramount failed to sell the book publishing giant to Penguin Random House. Iconic American publishing company Simon & Schuster has a new owner.

Paramount Global sells Simon & Schuster to private equity firm KKR. Here's what to know

Paramount Global (NASDAQ:PARA) is considering working with other media rivals to offer customers bundles for streaming services, chief executive officer Bob Bakish said, having experienced similar benefits from offering its streaming service at a discount when purchased with Showtime.   Bakish noted the enduring value of bundling as a method for enhancing customer value and confirmed its integration into the company's streaming strategy, having previously used a similar strategy grouping together paid-TV operators for cable customers.

Paramount willing to join forces with other streaming rivals

Disney

Paramount grew subscription revenue in its streaming segment by 47% in the quarter, driving a beat in total revenue.

Paramount Stock Jumps on Streaming Progress. The Pressure's Now on Disney.

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Paramount Global shares PARA, +2.94% rose 4% as the media company's adjusted earnings beat expectations and as it agreed to sell Simon & Schuster for $1.6 billion to KKR.

Beyond Meat stock skids as revenue slumps, Paramount Global shares rise, and other stocks on the move

Paramount said that it added 700,000 subscribers to Paramount+ in Q2 2023 after the company launched a subscription tier with Showtime integration in June. This addition meant Paramount+ subscriber count now stands at around 61 million — up from the 60 million reported last quarter.

Paramount+ tops 61 million subscribers after Showtime merger

Paramount Global (NASDAQ:PARA ) Q2 2023 Earnings Conference Call August 7, 2023 4:30 PM ET Company Participants Kristin Southey - Investor Relations Bob Bakish - President and Chief Executive Officer Naveen Chopra - Chief Financial Officer Conference Call Participants Jessica Reif Ehrlich - Bank of America Securities Michael Morris - Guggenheim Ben Swinburne - Morgan Stanley Rich Greenfield - LightShed Partners Brett Feldman - Goldman Sachs Robert Fishman - MoffettNathanson Bryan Kraft - Deutsche Bank Operator Good afternoon. My name is Nadia and I'll be the conference operator today.

Paramount Global (PARA) Q2 2023 Earnings Call Transcript

Paramount Global CEO Bob Bakish isn't ruling out the possibility of the company teaming with other players in the media space to create a more viable streaming bundle. “We've been believers in bundling for a long time,” the exec said on the company's second-quarter earnings call.

Paramount CEO Bob Bakish Says Streaming Bundling Will Increase, Possibly With Third Parties; Cites Evidence That Paramount+ Combo With Showtime Boosted Viewing

Palantir Technologies

Paramount Global (NASDAQ:PARA) shares added 1.7% after the bell Monday thanks to second-quarter new subscriber numbers and a narrowing direct-to-consumer loss, The company posted revenue of $7.6 billion, down from $7.78 billion a year earlier but topping expectations of $7.43 billion. Its loss came out to $0.59 per share, compared to a gain of $0.64 per share in the year-ago period and well below expectations of a $0.01 loss.

The Afterhours: Paramount, Palantir, Lucid all impress

Second quarter earnings show Paramount+ adds another 1 million subscribers and narrower streaming losses. But tough comparisons to lost year yield box offices declines.

Ups And Downs At Paramount: Streaming Grows, Box Office Lows

Paramount has agreed to sell Simon & Schuster to private equity firm KKR for $1.6 billion in cash, after more than three years of trying to offload the book publishing powerhouse.

After trying for three years, Paramount finally unloads Simon & Schuster for $1.6 billion

Paramount Global has sold the publisher after a federal judge blocked rival Penguin Random House from buying it

Simon & Schuster sold to private equity firm KKR for $1.62bn

Bob Bakish, CEO of Paramount Global, has found himself on his second earnings call discuss a strike in Hollywood. “I'd like to take a moment to address the issue that is top of mind for all of us. The ongoing writers and actor strikes.

Paramount CEO Bob Bakish Says “We Remain Hopeful For A Timely Resolution” To Writers & Actors Strikes

Paramount Global has agreed to sell Simon & Schuster to private equity giant KKR for $1.62 billion, the company said as it reported quarterly earnings.

Paramount to sell Simon & Schuster to KKR for $1.62 billion

Paramount's previous $2.2 billion deal to sell Simon & Schuster was struck down in 2022 following a lawsuit by the Department of Justice.

Paramount Selling Simon & Schuster To KKR For $1.62 Billion

Paramount Global shares were popping in Monday's after-hours action after the media giant topped expectations with its latest quarterly financials.

News for Paramount Global Stock (PARAA)