Welcome to our dedicated page for Paramount Global news (Ticker: PARAA), a resource for investors and traders seeking the latest updates and insights on Paramount Global stock.
Paramount Global, trading under the symbol PARAA, is a prominent media and entertainment company driven by iconic consumer brands. The company's extensive portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV, and Simon & Schuster, among others. Paramount Global commands a significant share of the U.S. television audience and holds a vast library of TV and film titles. In addition to offering innovative streaming services and digital video products, the company excels in production, distribution, and advertising solutions on a global scale.
Paramount Global operates within three main business segments: TV media, filmed entertainment, and direct-to-consumer. The TV media segment comprises television production studios, various broadcast and cable networks, such as CBS, Paramount, Nickelodeon, MTV, BET, and VH1. The filmed entertainment division includes multiple film studios, notably Paramount Pictures, that produce and distribute movies to theaters and other media outlets. Direct-to-consumer encompasses various streaming platforms, including Paramount+, Showtime, Pluto TV, and BET+. Content on these platforms is created by the production studios within the company's other business segments, providing a diverse range of entertainment options for audiences worldwide.
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.
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.
FAQ
What is the current stock price of Paramount Global (PARAA)?
What is the market cap of Paramount Global (PARAA)?
What are the key brands under Paramount Global?
What segments does Paramount Global operate in?
What does the TV media segment of Paramount Global entail?
Which film studios fall under Paramount Global's filmed entertainment division?
What are some of the streaming platforms offered by Paramount Global?