Welcome to our dedicated page for Paramount Global Class B news (Ticker: PARA), a resource for investors and traders seeking the latest updates and insights on Paramount Global Class B stock.
Paramount Global Class B Common Stock (symbol: PARA) represents shares in one of the world’s leading global media and entertainment companies. Paramount Global, previously known as ViacomCBS, is driven by a portfolio of iconic consumer brands including CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, and streaming services such as Paramount+, Pluto TV, and BET+.
Paramount Global’s operations span three major segments: TV media, filmed entertainment, and direct-to-consumer. The TV media segment includes extensive television production studios, various broadcast and cable networks, such as CBS, which delivers the largest share of the U.S. television audience. The filmed entertainment segment consists of film studios including Paramount Pictures, which produces and licenses movies to theaters and media outlets globally. The direct-to-consumer segment includes the innovative streaming services Paramount+, Pluto TV, and BET+, providing a vast array of original series, hit shows, and popular movies.
In recent developments, Paramount+ announced the renewal of its original animated preschool series DORA for a second season, showcasing the company's commitment to children's programming. Additionally, Paramount Global has established a new leadership structure with an Office of the CEO after the stepping down of President and CEO Bob Bakish. The new team is focused on accelerating growth, developing popular content, and optimizing the streaming strategy.
Paramount Global's vast content library and innovative digital services position it strongly in the market. The company recently reported that CBS programming was viewed for over 456 billion minutes across various platforms, underscoring its extensive reach and audience engagement. Moreover, Paramount Global continues to form strategic partnerships, such as the multi-year distribution agreement with Charter Communications, enhancing value for both companies’ consumers.
The company's financial health remains robust, as evidenced by its solid performance in yearly earnings and the ongoing enhancement of its streaming and broadcast services. Paramount Global is dedicated to creating premium content and experiences for audiences worldwide, making it a significant player in the entertainment industry.
Shopsense AI has announced the debut of its AI Lens technology at the 2024 MTV Video Music Awards (VMAs). This innovative product recognition tool will allow viewers to 'snap and shop' items worn by artists during the entire VMA broadcast, including the red carpet and stage performances. The shopping experience will be integrated into MTV's retail ecosystem at shop.mtvVMAs.com.
The Shopsense AI Lens enables viewers to take photos of fashion or products on their TV screens using a second device, instantly identifying exact matches or suggesting similar items from over 1,000 retailers and 1 billion SKUs. This technology is set to revolutionize how audiences interact with content and shop from Paramount's global network, seamlessly blending entertainment and commerce.
PMI Kids World is launching Booksy, a new patented collectible toy line that combines toys with tiny books, aimed at fostering a love for reading and play. The line will debut in October 2024 with PMI's original Monster Tales on Amazon, followed by licensed versions featuring characters from PAW Patrol and Tales of the Teenage Mutant Ninja Turtles at Walmart in November.
Booksy toys are designed for children aged 3-8 and include collectible figures with miniature books inside. The Monster Tales collection will offer a Six Pack and a Bookshelf Collector Set on Amazon. Licensed versions will feature 12 popular characters from PAW Patrol and TMNT, available exclusively at 3,000 Walmart stores in the USA.
The global release is set for Fall 2024, with distribution in key markets including the UK, France, Middle East, and Canada. This innovative product line represents PMI's own intellectual property, developed in-house and patented.
Nickelodeon is set to debut two brand-new elements at the 98th Macy's Thanksgiving Day Parade® on November 28, 2024. The additions include a balloon featuring Marshall, the firefighter dalmatian from PAW Patrol, and DORA's Fantastical Rainforest, a float and balloon hybrid showcasing Dora and her friends. These new entries join Nickelodeon's existing parade participants: the SpongeBob SquarePants balloon and the Teenage Mutant Ninja Turtles float.
The SpongeBob balloon will be accompanied by a new electric-powered 'Garriage' drawn by Gary the snail, celebrating the show's 25th anniversary. The Ninja Turtles float is inspired by the new series 'Tales of the Teenage Mutant Ninja Turtles' on Paramount+. The parade will air on NBC and stream on Peacock on Thanksgiving Day.
Paramount celebrated its 28th annual Community Day on June 12, 2024, marking the company's most impactful global outreach effort to date. Employees dedicated an impressive 20,000 hours of volunteer service across nearly 200 community projects, serving over 160 organizations in 46 global markets. Notable achievements include:
- Removal of over half a million pounds of trash and invasive plants
- Preparation and service of 72,000 meals
- Assembly of 7,200 mental health and education kits
- Planting of over 1,000 trees
Crystal Barnes, EVP of corporate social responsibility and ESG, emphasized the significance of Community Day as a cherished initiative for Paramount employees, highlighting its role in fostering team unity and community support.
HBCU Buzz, BET, Live Nation Urban, and When We All Vote have launched the Vote Loud: HBCU Voter Registration Challenge to encourage voter participation among HBCU students and community members for the 2024 election. The challenge, running from September 5 to October 5, 2024, aims to empower young Black voters and increase civic engagement.
Participants can win prizes for their school community by registering to vote and promoting voter registration. The initiative highlights the importance of Black voters, who represent 14% of all eligible voters in the United States. The challenge emphasizes the impact of down-ballot races and ballot initiatives on issues such as the economy and cost of living.
Pepsi launches a massive campaign called 'Make Your Gameday Epic™' to celebrate the 2024 NFL season and promote Paramount Pictures' upcoming 'Gladiator II' film. The campaign features Megan Thee Stallion as 'Empress Megan' leading NFL stars Josh Allen, Derrick Henry, Justin Jefferson, and Travis Kelce in a Gladiator-themed short film. Megan also recorded a new version of Queen's 'We Will Rock You' for the campaign.
The campaign includes a portrait generator tool, -edition AR-enabled cans, retail displays, and a Fandango movie ticket offer. Pepsi collaborated with Ridley Scott Associates and Paramount Brand Studio for this campaign, which will be prominently featured during the 2024 MTV VMAs hosted by Megan Thee Stallion.
Nickelodeon has announced the addition of Modern Family to its Nick at Nite programming lineup starting Monday, Sept. 9. All 11 seasons of the 22-time Emmy® Award-winning comedy series will air daily from 2-4 a.m. (ET/PT). This marks the first time Modern Family will air within Paramount's family of brands. The show joins other popular comedies in Nick at Nite's roster, including Friends, Mike & Molly, Mom, Young Sheldon, and The Neighborhood.
Rachel Crain, SVP of Programming & Content Strategy at Nickelodeon Networks, expressed excitement about adding the critically acclaimed sitcom to their nightly lineup. The licensing agreement with Disney Entertainment was negotiated by Barbara Zaneri, Chief Programming Acquisitions Officer for Paramount Global.
Comic Relief US and Nickelodeon are launching the 2nd annual Kids Relief campaign, 'Game to Change the World,' from Aug. 27 to Sept. 20. The campaign features:
1. A Roblox game called Kids Relief Simulator with celebrity guests.
2. A Roblox scavenger hunt in partnership with games like SpongeBob Simulator and Teenage Mutant Ninja Turtles Battle Tycoon.
3. Real-world community service activities guided by Nickelodeon Our World.
4. A star-studded Roblox music festival featuring artists like Imagine Dragons and Conan Gray.
The campaign aims to empower kids to become changemakers, raising funds for programs supporting youth empowerment, education, and economic growth opportunities.
Paramount Global's Special Committee announced the end of the 'Go-Shop' process as Edgar Bronfman Jr.'s consortium withdrew their acquisition proposal. The committee contacted over 50 third parties during this period to explore potential acquisition offers. Charles E. Phillips, Jr., Chair of the Special Committee, reaffirmed their belief that the agreed transaction with Skydance Media offers immediate value and potential for continued growth in a rapidly evolving industry.
The Skydance transaction is expected to close in the first half of 2025, subject to regulatory approvals and other conditions. Paramount will file a registration statement on Form S-4 with the SEC, including an information statement/prospectus, regarding the proposed transactions involving Paramount, Skydance, and NAI.
Charter Communications (NASDAQ: CHTR) and Paramount Global (NASDAQ: PARA, PARAA) have announced that Paramount+ Essential, the ad-supported version of Paramount's streaming service, is now included at no extra cost in all Spectrum TV Select and Mi Plan Latino packages nationwide. This offering is part of a new multi-year distribution agreement between the companies.
Spectrum video customers can now access over 40,000 episodes of shows and movies, including popular original series and live sports on CBS. The service can be streamed through the Xumo Stream Box or any Paramount+ supported device. This partnership aims to provide greater value for Spectrum's video customers while creating new distribution opportunities for Paramount, contributing to a healthier video ecosystem.
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