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Apr 8, 2024
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the contours of the deal involve david ellison sky dance cashing out sherry redstone who is the chairmanramount. it is her company. a true billion-dollar deal in merging sky dance with paramount in a stock deal. sonali: i'm wonder if there are more public it in factors should you have reported there's already been some pushback. michelle: what is complicated about the situation is paramount has a dual class structure. class a voting shares and national amusements hold 80% of that. they have the bulk of the control but only 10% of the outstanding shares. the rest of the shareholders don't have any voting control. someone has come out from matrix saying with a letter to the paramount board saying this deal is not fair. they went paramount and the board to consider other offers that are out there. apollo last week made an offer for all of paramount. it was a $26 billion cash offer. this came after paramount's debt was downgraded to junk and apollo's view is because of this downgrade they can leave paramount's capital structure in place, not have to raise any new financing and put up equity.
the contours of the deal involve david ellison sky dance cashing out sherry redstone who is the chairmanramount. it is her company. a true billion-dollar deal in merging sky dance with paramount in a stock deal. sonali: i'm wonder if there are more public it in factors should you have reported there's already been some pushback. michelle: what is complicated about the situation is paramount has a dual class structure. class a voting shares and national amusements hold 80% of that. they have the...
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Apr 26, 2024
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sherry redstone wants to do this skydance deal.ets her way, it won't matter because bob bakish is going to be out as ceo and david ellison is going to be in if the skydance deal is done. >> skydance also is backed by kkr and red bird is red bird the one that has the relationship with jeff zucker? >> and jeff shell, the former nbc ceo, would be the president of the new company, if, in fact, that deal gets agreed to >> let's move on to kenny smith, who yesterday on our air talked a good bit about the warner brothers discovery future. he chose it as his stock, saying that if wbd gets the nba rights, which are subject to negotiation right now, that's going to power warner brothers discovery. let's listen to kenny. >> i'm going with the warner brother discovery for this reason once they get the nba contract again, their stock is going to rise and they also -- think about it. they're going to -- they have the best show on television, "inside the nba. they need -- their stock will go up you cannot negate the fact that once they get the nb
sherry redstone wants to do this skydance deal.ets her way, it won't matter because bob bakish is going to be out as ceo and david ellison is going to be in if the skydance deal is done. >> skydance also is backed by kkr and red bird is red bird the one that has the relationship with jeff zucker? >> and jeff shell, the former nbc ceo, would be the president of the new company, if, in fact, that deal gets agreed to >> let's move on to kenny smith, who yesterday on our air...
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Apr 30, 2024
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sherry redstone, this seems to be the deal she is looking for from sky dance.re you currently dealing with the reports around a so-called sweetened deal? what would you make of those reports from paramount sky dance? -- paramount and skydance? john: we don't know enough. we've had some good information confirmed, but if this transaction really is focused on skydance, we think that may possibly have a chance to work, but much rather see apollo deal with sony that has been so alluring out there, to get certainty of the apollo world-class firm with extraordinary resources. sony has proved to be so successful in this industry. it seems like a marriage made in heaven. we would not rush to the altar with a smaller company that is not as proven as apollo and sony. ed: john, good morning. it's ed in san francisco. you have help this idea that we should look at other authors -- offers on the table for a while. do you hold that belief, that other all -- other offers will be looked at? john: that is what we hear. management has been nothing but straightforward with us reg
sherry redstone, this seems to be the deal she is looking for from sky dance.re you currently dealing with the reports around a so-called sweetened deal? what would you make of those reports from paramount sky dance? -- paramount and skydance? john: we don't know enough. we've had some good information confirmed, but if this transaction really is focused on skydance, we think that may possibly have a chance to work, but much rather see apollo deal with sony that has been so alluring out there,...
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Apr 30, 2024
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ultimately, the powers held by sherry redstone. she calls the shots. that demonstrated quite clearly in the last few hours. thank you so much. the biggest thing potentially happening in media and the last week or so is the most obvious thing that should have taken place a long time ago which is the super bowl taking place on presidents' day weekend. roger goodell proposing for years and why isn't it held on presidents' day weekend? lisa: some people will have to wake up early the next day cannot watch the whole thing jonathan:. it's not just about me or you. it's like an all day breakfast at mcdonald's. it's obvious. the brit had to come to america to run mcdonald's and that makes sense. annmarie: all day breakfast in the united kingdom? jonathan: this is like the all day breakfast decision of the nfl. it's so obvious, get it done. lisa: is the goal to get more viewership? i think they did pretty well. jonathan: you would get even more this way. you can wake up in monday and do what you want. lisa: that's your ultimate goal because you are a party anim
ultimately, the powers held by sherry redstone. she calls the shots. that demonstrated quite clearly in the last few hours. thank you so much. the biggest thing potentially happening in media and the last week or so is the most obvious thing that should have taken place a long time ago which is the super bowl taking place on presidents' day weekend. roger goodell proposing for years and why isn't it held on presidents' day weekend? lisa: some people will have to wake up early the next day...
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Apr 19, 2024
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the answer is sherry redstone.or reasons of her own, she wants to do a deal with skydance the reasons may be legitimate to her. she wants to keep the name intact to honor her father she wants to get out of her a shares she has her own debt to deal with if she goes down the road of taking a substandard deal compared to the apollo offer which, by the way, needs to be confirmed, but if she does that, tremendous legal liability i don't think she, the officers of the company or the directors of the company, really want to take on that legal liability i really don't think so. but we're going to have to wait and see this is a controlling shareholder. >> she has a couple billion reasons to do the deal. >> she sure does >> jim, i have to ask you a question good to see you on a friday. >> joe, you, too you were too hard of yourself on netflix. >> i think we owe the viewers that when you talk in a particular direction and it doesn't go that way. i know you've been in paramount a long time, and i'm asking this question for the
the answer is sherry redstone.or reasons of her own, she wants to do a deal with skydance the reasons may be legitimate to her. she wants to keep the name intact to honor her father she wants to get out of her a shares she has her own debt to deal with if she goes down the road of taking a substandard deal compared to the apollo offer which, by the way, needs to be confirmed, but if she does that, tremendous legal liability i don't think she, the officers of the company or the directors of the...
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Apr 29, 2024
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that sentiment shares are still down about 25% since the news broke back in december 10th and sherry redstoneng stake in the company. now sources tell me sony and apollo are considering submitting their alternative proposal to skydance's bid as earlier as this week there's another wild card here, as well and paramount's negotiations with charter over their deal that expires tomorrow night. the terms of that deal and whether charter takes all of the channels and with what fees will impact paramount's value going forward. jon? >> julia, this is a company and an industry under a lot of pressure unless your name is netflix. regardless of what happens here, but does it look like people are feeling that this deal with ellison is probably the bird in the hand >> you know, that's what i was hearing up through yesterday, that this deal was sort of set to happen, that this is what sherry redstone wants to happen and the fact that we're now getting more of these details leaked and the new terms of this deal and the best and final offer does make it a better deal for shareholders to me makes it much more
that sentiment shares are still down about 25% since the news broke back in december 10th and sherry redstoneng stake in the company. now sources tell me sony and apollo are considering submitting their alternative proposal to skydance's bid as earlier as this week there's another wild card here, as well and paramount's negotiations with charter over their deal that expires tomorrow night. the terms of that deal and whether charter takes all of the channels and with what fees will impact...
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Apr 3, 2024
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what do you think is going on, you know, behind the scenes, and in particular, with sherry redstone? >> look, there's no doubt that they've made it pretty clear the redstone family made it clear they want out. they want to monetize their stake, i think they see the challenges facing the media universe, and they're certainly looking for the best option. it's surprising that if this apollo bid was real, it's surprising they didn't take it. i'm literal little -- i can't really give you a good answer of why you would say no, unless it isn't as, you know, again, it wasn't -- we don't have the what were they paying per share, all we have is this sort of $26 billion enterprise that was in "the wall street journal" earlier today. maybe there's more to this than meets the eye. i don't know. obviously, there's regulatory approval. you would need, because apollo, obviously, already owns tv stations. not that i think it's a huge problem, but you would need fcc approval for that transaction. i don't think the skydance merger would have any issues whatsoever from a regulatory standpoint. >> hey, ri
what do you think is going on, you know, behind the scenes, and in particular, with sherry redstone? >> look, there's no doubt that they've made it pretty clear the redstone family made it clear they want out. they want to monetize their stake, i think they see the challenges facing the media universe, and they're certainly looking for the best option. it's surprising that if this apollo bid was real, it's surprising they didn't take it. i'm literal little -- i can't really give you a...
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Apr 29, 2024
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happening right now is that the skydance media deal and paramount global is in exclusive talks gets sherri redstone out of the company. skydance takes over her controlling shares and merge assets with paramount global the common shareholder would be along for the ride it would change nothing for a common shareholder of paramount global other than the fact it is diluted of the new equity that comes in if it went for a full takeout of the company with apollo and sony, that could be better news for the common shareholder they could get a big premium on the shares i would say one thing. if you believe in the david ellison and skydance camp, they can't be public about that, then you could say there is more upside in that deal because it is a publicly traded company and we get to capture. >> a lot to consider from the competing deals. paramount global shares up had 4% on the news that bob bakish is out ahead of the earnings report later today we hit on the shareholder and deal structure what about the streaming wars? what does this mean for the streaming deal and paramount global moving forward in the h
happening right now is that the skydance media deal and paramount global is in exclusive talks gets sherri redstone out of the company. skydance takes over her controlling shares and merge assets with paramount global the common shareholder would be along for the ride it would change nothing for a common shareholder of paramount global other than the fact it is diluted of the new equity that comes in if it went for a full takeout of the company with apollo and sony, that could be better news...
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Apr 29, 2024
04/24
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there's been a lot of backlash from him leading to a tense relationship between him and sherry redstonehe's a big hurdle in getting the deal done. katie: you and i were talking before the break, just quickly, here, paramount reports after the bell, but at this point it feels like an afterthought. >> yeah, no one is really paying attention to that. that said, though, they will have pretty decent earnings today and a lot of that is advertising. their tv advertising that has been under pressure across the industry will do well for them this quarter because of the super bowl. that will give them an almost 15% jump tv advertising revenue. but as you just pointed out, it's about everything other than earnings at this point. [laughter] katie: it will still be fun to follow, those paramount earnings, after the bell. thank you so much. we are back now with julian feeney of advisors capital management. let's talk single stocks. it's interesting, there is a lot of focus on the consumer and if companies have pricing power at how high elation is. looking through your notes, i see some actual retaile
there's been a lot of backlash from him leading to a tense relationship between him and sherry redstonehe's a big hurdle in getting the deal done. katie: you and i were talking before the break, just quickly, here, paramount reports after the bell, but at this point it feels like an afterthought. >> yeah, no one is really paying attention to that. that said, though, they will have pretty decent earnings today and a lot of that is advertising. their tv advertising that has been under...
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Apr 29, 2024
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a block of shares at a premium to make it more palatable for investors, and i think finally, sherry redstonethe one who kind of called all the shots at paramount, she finally opened for what is the majority of minority voters, so she is letting the nonvoting shareholders have a say in whether this transaction should go through. that is really critical, because there has been so much backlash against the sky dance deal, because a lot of the nonvoting shareholders have said it will dilute them, and it really only benefit, you know, sky dance and of course shelley redstone. caroline: one of the keys have been aerial investments, and they have in putting out letter saying we are worried about the way this has been executed, the premium and the merge of what is happening in sky dance, but also they were troubled by the looming departures of four paramount boot dashboard members. is this, from a government's perspective, if you see the board potentially getting rid of the ceo, a transition for the curves? ggeetha: rice, hadley, gates & -- geetha: yeah, this is unusual. you have bob, who has been t
a block of shares at a premium to make it more palatable for investors, and i think finally, sherry redstonethe one who kind of called all the shots at paramount, she finally opened for what is the majority of minority voters, so she is letting the nonvoting shareholders have a say in whether this transaction should go through. that is really critical, because there has been so much backlash against the sky dance deal, because a lot of the nonvoting shareholders have said it will dilute them,...
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Apr 3, 2024
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.>> sherry redstone has reached a tentative agreement to sell her stake in paramount to sky dance mediacording to bloomberg. this follows the wall street journal reporting earlier today that they were in exclusive talks. the provisional accord is to purchase national amusements, which does control 80% of voting stake in paramount. mike?>> this deal is sort of handicapped. we will see what it will be for the paramount down the road. the s&p 500 is struggling for direction, as the treasury rises to the highest level since last november. max is joining us. max, it's good to see you. there are familiar challenges to the market that have been feeding off a perfect backdrop. inflation is on the downside, people are expecting a strong economy and record highs stock market, there may be some convocations. how do you see it playing out?>> for the next couple months we are in for some further gains. we look at some of the macro data in the united states and globally. and it plot - - it applies in particular to the united states, ceo confidence has been picking up. we look at consumer sentiment ar
.>> sherry redstone has reached a tentative agreement to sell her stake in paramount to sky dance mediacording to bloomberg. this follows the wall street journal reporting earlier today that they were in exclusive talks. the provisional accord is to purchase national amusements, which does control 80% of voting stake in paramount. mike?>> this deal is sort of handicapped. we will see what it will be for the paramount down the road. the s&p 500 is struggling for direction, as the...
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Apr 4, 2024
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one is the sherry redstone controlling stake i talked about. management because a year ago they cut the dividend, and yet here we are, two positive free cash flow quarters in a row and probably another one this quarter which has the analyst community asking, why did you cut the dividend? this is a situation people aren't going to believe anything until there's a deal on the table, but, again, with the apollo deal out there, i think this is a low 20s takeout. >> do you want to give me a quickie on now that we have a definitive win for disney in the proxy battle with peltz, which iger talked about on the network today, and said now the board is solely focused. the number one priority will be succession. how are you thinking about that from here forward as a share holder? >> the succession issue is a 2026 issue. obviously they'll be working on it this year and next. for me, now it's a time to execute particularly on streaming profitability, the hulu deal and whatever they're going to do with espn. it was intriguing the stock went down when the res
one is the sherry redstone controlling stake i talked about. management because a year ago they cut the dividend, and yet here we are, two positive free cash flow quarters in a row and probably another one this quarter which has the analyst community asking, why did you cut the dividend? this is a situation people aren't going to believe anything until there's a deal on the table, but, again, with the apollo deal out there, i think this is a low 20s takeout. >> do you want to give me a...
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Apr 30, 2024
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penalties because people like bruce willis and oprah winfrey and a bunch of other people like sherry redstone they don't want any crime. they've got drugs and gangs and, you know, they are sending a message. i'm going to say one more thing because i know this has to be short. short. when you want to stop crime, you have to be clear there are going to be consequences, and i'm not saying that this guy doesn't deserve a break. i think he does. i don't think he did anything intentional. but this is what countries do. this is why china doesn't have a drug problem. they kill you if you sell drugs in china. >> jonathan: although on the scale of gun runners, we can put him relatively low -- >> greg: yes. >> greg: yes. >> jonathan: the idea of inserting the bullets physically, manually, has not been a huge problem in terms of this law. i think the problem i see is they don't seem to have a lot of leeway in how they deal with these things. you can't have a criminal law that is strict liability, regardless of any circumstances. this is obviously not an intentional crime. again, i imagine he really was t
penalties because people like bruce willis and oprah winfrey and a bunch of other people like sherry redstone they don't want any crime. they've got drugs and gangs and, you know, they are sending a message. i'm going to say one more thing because i know this has to be short. short. when you want to stop crime, you have to be clear there are going to be consequences, and i'm not saying that this guy doesn't deserve a break. i think he does. i don't think he did anything intentional. but this is...
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Apr 17, 2024
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is needed, national amusements, nai, seems to have some financial challenges -- liz: that's sherry redstone'seen actors guilt strike, so on. they -- guild strike. they own 30 million of the common and 30 million of the voting. they own 9 -- let's call it 10% of the economics of paramount, but they have 75% of the vote. so the question then is what is she doing to the help all of the shareholders and help the company. so skydance is basically a great company with regards to content capabilities. and the management at paramount is very good at managing the business of what they do with pluto, other company, but they need to have extra juice on content. you step back, liz, the content spend in 2024 by comcast, by disney is $25 billion. then there's companies like clustered around $16, 17, 18. pararah a mount's one of them, netflix is one of them, and they're coming out with results tomorrow, today, whatever, and you have zaslav at a warner's there. and if then apple. $1 billion. so the question is -- 11 billion. how do we energize the contentful i'm not going to say it's mission impossible. but
is needed, national amusements, nai, seems to have some financial challenges -- liz: that's sherry redstone'seen actors guilt strike, so on. they -- guild strike. they own 30 million of the common and 30 million of the voting. they own 9 -- let's call it 10% of the economics of paramount, but they have 75% of the vote. so the question then is what is she doing to the help all of the shareholders and help the company. so skydance is basically a great company with regards to content capabilities....
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Apr 11, 2024
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you will see more coming into this. >> there is a share class which is controlled by sherri redstone.verge massive live. this is a super shareholder. >> that stock down 28% year to date. it is up about 6 cents today. >>> when we come back, new data on china's economy. "squawk pod" has been nominated for a webby award. you can scan the qr code over our feature of the interview with charlie munger before he passed away. that code on the screen will take you to the page where you can show support for us in the webbys. voting is open until april 18th. "squawk box" will be right back. >> announcer: executive edge is sponsored by at&t business. next level moments need the next level network. [due at target in 5!] copy that. make a hard left down the alley. network's got you covered. [please confirm requesting back-up.] -changing route. -go. roadblock ahead. ...back up, back up... reverse! reverse! next level moments, we're 30 seconds out. need the next level network. [north corridor, hurry!] -coming through! -or 3, let's go. the network more businesses choose. transplant received. at&t busi
you will see more coming into this. >> there is a share class which is controlled by sherri redstone.verge massive live. this is a super shareholder. >> that stock down 28% year to date. it is up about 6 cents today. >>> when we come back, new data on china's economy. "squawk pod" has been nominated for a webby award. you can scan the qr code over our feature of the interview with charlie munger before he passed away. that code on the screen will take you to the...
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Apr 29, 2024
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. >>> well, harry are redstone facing -- sherry red shari redstone facing drama.t her plan leaving the fate of the home of blockbusters like titanic, the godfather and indiana a jones in limbo. "wall street journal"'s reporting that ceo bob bakish could resign as a early as today. you know, they're reporting after the bell. stock is up more than 5.25%. they lost 80% of their market value in just that last 8 years. >>> well, jamie dimon not only runs the nation's biggest bank, he's also a been crowned the country's to best dressed ceo. that is according to a new poll by custom inc. dimon, quote, sports professional attire. other names on the list, maria, number two, capital the one founder richard fairbank, number three, visa's ceo. foot locker chief mary dillon, the only woman making the list. they all look great. i'm sure you agree. [laughter] maria: yeah. nice accolade there for them. thank you, cheryl. >> you bet. maria: meanwhile, a new cnn/ssrs poll finds former president trump leading president biden by 6 points in a head to head match up, 49% to 43%. the sa
. >>> well, harry are redstone facing -- sherry red shari redstone facing drama.t her plan leaving the fate of the home of blockbusters like titanic, the godfather and indiana a jones in limbo. "wall street journal"'s reporting that ceo bob bakish could resign as a early as today. you know, they're reporting after the bell. stock is up more than 5.25%. they lost 80% of their market value in just that last 8 years. >>> well, jamie dimon not only runs the nation's...
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Apr 4, 2024
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sherry redstone's shareholder has reached a tentative agreement to share her steak according to people familiar with the talks. shares of paramount have been under pressure for years, reflecting the company's loss of tv viewers and efforts to develop a streaming service. the media company had a market value of nearly 9.2 billion dollars at the close of trading yesterday. kiss is selling its song catalog and name and image and likeness to pop house entertainment group . pop house is paying more than 300 million dollars for the deal. the company plans to make a biopic about the group and they live music show featuring avatars of the legendary band members. pop house has made a live show featuring the avatars of abba. that show makes more than $1 million a week in london. that is your bloomberg brief. jon: 10% mortgage, 200 k apartment, two-bed with a roof garden in manhattan. let's never talk about mortgages together again. two beds with a roof garden? that is like $5 million in new york for that now. next, janet yellen taking on china. >> we agreed it is important to both of us that we
sherry redstone's shareholder has reached a tentative agreement to share her steak according to people familiar with the talks. shares of paramount have been under pressure for years, reflecting the company's loss of tv viewers and efforts to develop a streaming service. the media company had a market value of nearly 9.2 billion dollars at the close of trading yesterday. kiss is selling its song catalog and name and image and likeness to pop house entertainment group . pop house is paying more...