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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We have narrowed our search to five stocks that have solid momentum. These are: SPOT, AZPN, STX,CART, PARAA.

Soft-Landing Hopes Resurface: Top 5 Momentum Stock Picks

Analysts have taken a gloomy view on the CBS owner as it struggles to crack the streaming game with Paramount+.

Paramount Might Get Another Bidder, Report Says. Why the Street Is Cool on the Stock.

As the August 21 deadline looms for other parties to make a run at Paramount (or forever hold their peace), the Wall Street Journal reports that Edgar Bronfman Jr. has not exited the Paramount scene but is in talks with investors and preparing a bid.

Edgar Bronfman Jr. Preparing Bid For Paramount Global – Report

Seagram Co heir Edgar Bronfman Jr. is close to making an offer for National Amusements that would compete with an accepted bid from Skydance Media, Bloomberg News reported on Thursday, citing people familiar with his plans.

Edgar Bronfman Jr. to prepare an offer for Paramount Global, Bloomberg News reports

Media executive Edgar Bronfman Jr. is preparing a bid for National Amusements, the family company that controls Paramount Global PARA 6.55%increase; green up pointing triangle, in what would mark the latest twist in one of the messiest media mergers in recent history.

Edgar Bronfman Prepares Bid for Paramount Parent National Amusements

CBS Sports CEO David Berson said the volatility at parent company Paramount Global, which is laying off 15% of its U.S. workforce and preparing to merge with Skydance Media, isn't taking his division off its game.

Amid Paramount Layoffs And Skydance Talks, CBS Sports Has Emerged “Largely Intact” And “Strong” Due To Viewer Demand, Division Chief David Berson Says

Paramount Global (PARAA) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.

Why Fast-paced Mover Paramount Global (PARAA) Is a Great Choice for Value Investors

The iconic Paramount Television Studios is shutting down this week as part of a cost-cutting effort by parent company Paramount Global PARA -0.10%decrease; red down pointing triangle.

Paramount to Close TV Studio Amid Restructuring

Paramount Global will begin laying off 15% of its workforce in the United States starting Tuesday as part of its planned job cuts, the media giant said in an internal memo.

Paramount Global begins planned layoffs with 15% job cuts in US

Paramount Global has initiated the first wave of layoffs as it looks to reduce its U.S. workforce by 15%. The first of three stages of the staff reductions is beginning today, with 90% of the planned cuts to be completed by the end of September.

Paramount Layoffs Begin; Co-CEOs Tell Staffers Media Company Has Reached “An Inflection Point” As “Industry Continues To Evolve”

Paramount Global (NASDAQ:PARAA ) Q2 2024 Earnings Conference Call August 8, 2024 4:30 PM ET Company Participants Jaime Morris - Executive Vice President of Investor Relations Brian Robbins - President & Chief Executive Officer Chris McCarthy - President & Chief Executive Officer George Cheeks - President & Chief Executive Officer Naveen Chopra - Executive Vice President & Chief Financial Officer Conference Call Participants Michael Morris – Guggenheim Robert Fishman – MoffettNathanson Ben Swinburne - Morgan Stanley Rich Greenfield - LightShed Partners John Hodulik – UBS Steven Cahall - Wells Fargo Bryan Kraft - Deutsche Bank Operator Good afternoon. My name is Felicia and I'll be the conference operator today.

Paramount Global (PARAA) Q2 2024 Earnings Call Transcript

Paramount Global (NASDAQ:PARA) stock is up 4.5% at $10.66 at last glance, after the streaming giant reported better-than-expected second-quarter earnings of 54 cents per share, though revenue missed estimates.

Paramount Global Stock Pops After Earnings, Job Cuts

Paramount Global will cut approximately 15% of its U.S.-based workforce in upcoming layoffs, co-CEO Chris McCarthy disclosed in an earnings call on Thursday.

Paramount Global to lay off 15% of its US workforce

Expedia

8.33am: Wall Street to edge lower US stocks are on track to open slightly lower later today, in what could be a slightly more relaxed day of trading compared to earlier this week.  However, it might not be calm for long if Terry Sandven at U.S. Bank Wealth Management is correct.

Nasdaq and S&P 500 to slip lower as markets calm; Expedia and Paramount surge

Paramount Global's shares jumped 6% premarket on Friday as investors cheered strong growth at the media group's streaming business, even as the company joined rival Warner Bros Discovery in writing down the value of its TV assets.

Paramount jumps as steady streaming growth eclipses TV unit writedown

US entertainment conglomerate Paramount Global (NASDAQ:PARA) which owns CBS, Nickelodeon, Paramount+ and others, intends to reduce its workforce by 15% under a $500 billion cost-saving plan. The news was delivered to shareholders during Paramount's second-quarter earnings call, when Paramount also noted a $5.98 billion goodwill impairment charge for its Cable Networks reporting unit due to “a downward adjustment to the reporting unit's expected cash flows”.

Paramount cuts workforce, takes $6bn cable writedown

Paramount Global (NASDAQ:PARA ) Q2 2024 Earnings Conference Call August 8, 2024 4:30 PM ET Company Participants Jaime Morris - Executive Vice President of Investor Relations Brian Robbins - President & Chief Executive Officer, Paramount Pictures and Nickelodeon; Chief Content Officer, Movies & Kids & Family, Paramount+ Chris McCarthy - President & Chief Executive Officer, Showtime/MTV Entertainment Studios and Paramount Media Networks George Cheeks - President & Chief Executive Officer, CBS and Chief Content Officer, News and Sports, Paramount+ Naveen Chopra - Executive Vice President & Chief Financial Officer Conference Call Participants Michael Morris - Guggenheim Robert Fishman - MoffettNathanson Ben Swinburne - Morgan Stanley Rich Greenfield - LightShed Partners John Hodulik - UBS Steven Cahall - Wells Fargo Bryan Kraft - Deutsche Bank Operator Good afternoon. My name is Felicia and I'll be the conference operator today.

Paramount Global (PARA) Q2 2024 Earnings Call Transcript

While the top- and bottom-line numbers for Paramount Global-B (PARA) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Paramount Global-B (PARA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

The announcement comes a day after Warner Bros Discovery took a $9 billion write-down on its TV assets.

Paramount slashing thousands of jobs, writes down value of cable networks by $6B

Paramount Global (PARAA) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.10 per share a year ago.

Paramount Global (PARAA) Q2 Earnings Surpass Estimates

Sports, broadcast TV and digital paced Paramount Global's overall performance in the upfront ad market, Co-CEO Chris McCarthy said during the company's second-quarter earnings call. “We are pleased with our upfront results, particularly in the context of the evolution of the ad market and the scale of new entrants,” he said.

Paramount Global Says It Landed $1B In Digital Upfront Ad Commitments

Paramount Global-B (PARA) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.10 per share a year ago.

Paramount Global-B (PARA) Q2 Earnings Beat Estimates

The Paramount-Skydance merger is on track to close in the first half of 202 and “in the meantime, the Skydance and Redbird teams support our strategic plan and we are continuing to operate business as usual,” said Chris McCarthy — who runs Par with Brian Robbins and George Cheeks — on a call after quarterly

Paramount Co-CEOs Say Talks Heating Up On Streaming Partnerships, Asset Sales Ahead Of Skydance Merger

Paramount Global Co-CEO Chris McCarthy confirmed the long-expected layoffs hitting Paramount, saying the media company plans to cut its U.S.-based workforce by about 15%. Speaking on the company's second-quarter earnings call, the exec said marketing and communications would be one of two areas to be targeted in the reductions.

Paramount Global Co-CEO Chris McCarthy Confirms Layoffs Of 15% Of U.S.-Based Workers

Warner Bros. Discovery just told investors its TV networks were worth $9 billion less than the company thought.

News for Paramount Global Stock (PARAA)