Tag: media consolidation

Shari Redstone will exit the Paramount Global board in 2025 once Skydance Media and RedBird Capital acquire her company, National Amusements Inc., and merge with Paramount. The new entity, temporarily named "New Pluto Global, Inc.," will have an 11-member board…

Ari Emanuel, CEO of Endeavor Group Holdings and TKO Group, predicts that media consolidation will leave only five or six major streaming and content providers, including players like Netflix, Amazon, Disney, and Warner. Emanuel emphasized the importance of sports content…

Sony Pictures CEO Tony Vinciquerra revealed that Crunchyroll is the only profitable streaming service aside from Netflix, with Sony planning to expand into genre-specific streaming. He predicts the market will consolidate to 3-4 major platforms, with niche services gaining traction.…

Sony Pictures Entertainment CEO Tony Vinciquerra warned of "chaos" in Hollywood over the next two years, predicting a wave of mergers, bankruptcies, and sales. He highlighted the struggles of companies with cable networks, contrasting Sony’s position with that of Warner…

The LA Times examines how the entertainment industry is grappling with the aftermath of the shift to streaming. Summer 2024 box office revenues are down 10%, totaling $3.7 billion, a significant drop from pre-pandemic levels. Pay-TV is collapsing, with Paramount…

Paramount Global is considering selling up to a dozen local TV stations, potentially generating $500 million to $1 billion. This move reflects a strategic shift towards digital platforms and highlights concerns about media consolidation and the future of local broadcasting.…

Edgar Bronfman Jr. withdrew his $6 billion bid for Paramount, clearing the way for Skydance Media to complete an $8 billion merger deal with the media company. Bronfman’s bid faced significant financial scrutiny and tight deadlines, which ultimately led to…

Warner Bros. Discovery CEO David Zaslav highlighted industry consolidation due to streaming, AI, and pandemic disruptions at the 2024 Allen & Co. Sun Valley Retreat. Warner Bros. Discovery and Paramount have both made significant layoffs this year, with over 300…

Paramount Global is in discussions with other entertainment and tech companies to merge its Paramount+ streaming service with another platform, potentially initiating new streaming partnerships across the industry. Warner Bros. Discovery and NBCUniversal are among the companies interested in a…