Paramount Global Eyes Major Shakeup: Talks with Barry Diller's IAC and Warner Bros Discovery Heat Up

July 3, 2024
Paramount Global Eyes Major Shakeup: Talks with Barry Diller's IAC and Warner Bros Discovery Heat Up
  • Paramount Global is in discussions with Barry Diller's IAC for a potential deal.

  • IAC is considering a bid to take control of Paramount Global, with talks of a potential joint venture with Warner Bros Discovery.

  • IAC has signed non-disclosure agreements with National Amusements.

  • Paramount's controlling shareholder, Shari Redstone, recently ended talks with Skydance Media.

  • Market saturation concerns are driving media companies to explore mergers to attract streaming customers.

  • Paramount+ has over 71 million subscribers, but a potential joint venture with Warner would not likely be a 50-50 split.

  • Paramount is seeking new ownership to address financial struggles after failed talks with Skydance Media, leading to CEO Bob Bakish's departure.

  • The company's streaming service has shown subscriber growth but also significant losses, prompting cost-cutting measures and possible asset sales.

  • Various suitors, including Sony, are interested in acquiring majority control of Paramount Global.

  • Paramount+ with Showtime is offering a 50% discount on its annual ad-free plan until July 14th, dropping the price to $59.99.

  • The streaming service includes popular shows like Star Trek: Discovery, Yellowjackets, Billions, and Dexter, along with live sports and news.

  • CNBC reported on the ongoing discussions, with both Paramount and Warner declining to comment.

Summary based on 37 sources


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