More from Alex Weprin
CNN to Lay Off 100 Staffers as It Preps Major Revamp of Digital Efforts
Layoffs will once again hit CNN as the cable news channel reorganizes in a push to expand its digital businesses. CNN CEO Mark Thompson outlined his digital vision in a lengthy memo to staff Wednesday morning, announcing plans to build a flurry of digital products, including a subscription offering before the end of the year, […]
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Jared Leto Invests in Generative AI Video Startup
Jared Leto is getting into the generative artificial intelligence business. The actor and musician is among the investors in a startup called Captions, which is developing Gen AI tech in the video creation and editing space. Captions announced its Series C funding round Tuesday, which sees Leto investing alongside VC heavyweights like Kleiner Perkins, Sequoia […]
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Credit Agencies Warn That Paramount’s Legacy Businesses Are a Concern, Despite Skydance Deal
The credit agencies are weighing in on Paramount Global, fresh off the deal that would hand control over the entertainment giant to David Ellison’s Skydance. Moody’s warned in a note that it is placing Paramount’s ratings on review for a downgrade, a move that would rate the company’s debt at “junk” status. “The review for […]
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WWE Adds Another ESPN Talent: Veteran Football Announcer Joe Tessitore to Join Broadcast Team
The WWE has hired another top ESPN personality for its on-air broadcast team. The wrestling giant — owned by TKO Group Holdings — says that it has hired Joe Tessitore as a play-by-play broadcaster. Tessitore, a long-time ESPN veteran (he will continue to work at the sports TV giant in addition to the WWE), will […]
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Jeff Shell and David Ellison Dish on Paramount Plans: It’ll Be “Creator-Friendly Again”
Late Sunday night, after the consortium led by David Ellison’s Skydance sealed the deal to ultimately gain control of Paramount Global, Ellison spoke with Shari Redstone, who controlled the company through her family’s National Amusements and ultimately made the call to sell the family business. Redstone “was incredibly gracious and kind,” Ellison recalls. The Skydance […]
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David Ellison and Jeff Shell Say Paramount Can Be “Winner” in Streaming, Plan $2B in Cost Savings
The incoming owners of Paramount Global laid out their vision for the company — and why the deal is a good one for investors — in a call with Wall Street analysts early Monday morning. Skydance CEO David Ellison, former NBCUniversal CEO Jeff Shell (who would be Paramount’s president when the deal closes) and Paramount’s […]
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It’s Official: Skydance Wins the Battle for Paramount Global
In a landmark deal that will shake up the entertainment landscape, Shari Redstone has agreed to sell control of Paramount Global to a consortium led by Skydance, the production company helmed by David Ellison, and Gerry Cardinale’s RedBird Capital. The sale, assuming it is approved by regulators and completed (and assuming a better bid does […]
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New Paramount-Skydance Deal Nears Finish Line As Board Special Committee Signs Off
A consortium led by David Ellison’s Skydance is nearing the finish line on its new deal to acquire Paramount Global. According to sources, Paramount’s special committee has signed off on the refreshed deal from Skydance, RedBird Capital and other investors. A month ago, of course, Skydance was close to sealing the deal, but Shari Redstone […]
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James Dolan Inks Contract Extensions With His MSG Companies and Sphere Entertainment
James Dolan isn’t going anywhere. The sports and music mogul has signed three-year contract extensions with the companies he and his family control: MSG Sports, MSG Entertainment, and Sphere Entertainment. All three companies disclosed the new deals over the past few weeks, with Sphere filing the extension just before the July 4 holiday. MSG Sports […]
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NBCUniversal’s Olympics Promo Plan: Enlist Stars and Influencers to Get Word Out
Last November, Steven Spielberg stepped onto an Industrial Light & Magic virtual production stage on the Universal Studios lot. Behind him, a virtual rendition of the Eiffel Tower and the Seine River began to move across the massive screens. Spielberg, however, was not shooting an upcoming film. He wasn’t directing at all. Spielberg was the […]
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Six Flags and Knott’s Berry Farm Owner Cedar Fair Complete Merger, Creating Theme Park Behemoth
The theme park business has a new giant. Six Flags and Cedar Fair have completed their $8 billion merger, creating a live experiences behemoth that owns 27 theme parks, 15 water parks, 9 hotels and resorts, as well as safaris, marinas and other properties across the U.S., Canada and Mexico. “Today marks a significant milestone […]
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Sesame Workshop Names Sherrie Westin CEO
Sesame Workshop has found its next CEO. The non-profit that produces Sesame Street has named Sherrie Westin as its new chief executive. Westin will be only the second female CEO in the organization’s history, following Sesame Street creator Joan Ganz Cooney. “Sesame Workshop’s mission is to help children everywhere grow smarter, stronger, and kinder — […]
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