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Paramount Leaders Outline Stand-Alone Plan Including Layoffs, With No Word on Skydance Deal
Paramount Global investors did not get an update on the proposed Skydance deal at the awkwardly timed 2024 annual shareholders meeting.
On the streaming front, Paramount Global is “working on exploring options with both [subscription video-on-demand] players and the leading technology platforms with the goal of forming a joint venture or a long-term strategic partnership to maximize our momentum and take advantage of our combined strengths,” McCarthy said. But the composition of the board will change if the revised bid from David Ellison’s Skydance and his private-equity partners gets the thumbs-up from Redstone — who on Tuesday didn’t offer any guidance about her next move in the months-long sale process. Those were: Dawn Ostroff, former chief content and advertising business officer of Spotify; Nicole Seligman, former president of Sony Entertainment; Frederick Terrell, vice chairman of investment banking at Wells Fargo; and Rob Klieger, partner at Hueston Hennigan LLP, who had served as legal counsel to Sumner Redstone.
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