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.
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.
Paramount Global's Special Committee has announced the receipt of an acquisition proposal from Edgar Bronfman, Jr., representing a consortium of investors. This proposal qualifies the Bronfman Consortium as an 'Excluded Party' under the terms of the Skydance transaction agreement. As a result, the 'go shop' period for the Bronfman Consortium has been extended until September 5, 2024. The Special Committee contacted over 50 third parties during the go-shop period to gauge interest in acquiring Paramount. For other parties, the go-shop period expires at 11:59 p.m. Eastern Time today. Centerview Partners and Cravath, Swaine & Moore LLP are serving as financial advisor and legal counsel, respectively, to the Paramount Special Committee.
Michel Germain Parfums has partnered with Paramount Consumer Products to launch a prestige fragrance collection inspired by the hit series Emily in Paris. The collection, crafted by award-winning perfumer Michel Germain, aims to capture the essence of the show's protagonist and Parisian romance. Available fragrances include Emily in Paris, Emily in Paris Heartfelt, Emily in Paris Romantic, Emily in Paris Je T'aime, and Emily in Paris Pour Homme for men.
Michel Germain, known for creating fragrances out of love for his wife, ensures each scent embodies genuine romance. The collection is now available on MichelGermain.com, coinciding with the release of Emily in Paris Season 4 Part 1 on Netflix on August 15th. This collaboration leverages Paramount's diverse portfolio of consumer brands and aims to offer fans a tangible connection to the popular series.
Home Chef, a leading meal solutions company, has partnered with the popular animated series PAW Patrol for a four-week collaboration aimed at making family dinnertime more exciting. Starting August 12, 2024, customers can order PAW Patrol-themed recipes that will change weekly until September 13. Each Family Menu meal will come in a special interactive box inspired by the PAW Patroller truck and include a surprise PAW Patrol toy.
The menu features character-inspired dishes like Chase's Cheesy Turkey Quesadilla and Marshall's Fire Roasted Tomato Tortellini. Home Chef is also hosting a giveaway for a PAW Patrol playhouse, kids' dishware set, and a year's worth of meals. New customers can use the code 'RESCUEDINNER' to receive 18 free meals. This collaboration aims to make mealtime more convenient, approachable, and fun for families with young children.
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