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Paramount Global is a leading global media, streaming, and entertainment company that creates premium content and experiences for audiences worldwide. The company operates through three main segments: TV Media, Direct-to-Consumer, and Filmed Entertainment, offering a wide range of entertainment products and services . Paramount Global's offerings include broadcast operations, streaming services, and film production, catering to diverse audiences across the globe . The company is known for its popular brands like CBS, MTV, Nickelodeon, and Paramount Pictures .
- TV Media - Operates broadcast operations such as the CBS Television Network and domestic and international cable networks like MTV and Nickelodeon. Includes television studio operations and digital properties like CBS News Streaming and CBS Sports HQ.
- Direct-to-Consumer - Comprises domestic and international streaming services, including Paramount+, Pluto TV, and BET+. Showtime Networks' domestic premium subscription streaming service was discontinued as a standalone service for new subscribers in 2023 and will no longer be available after April 30, 2024.
- Filmed Entertainment - Encompasses film production through Paramount Pictures, Paramount Players, and Paramount Animation, along with other studios like Nickelodeon Studio and Miramax.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Brian Robbins Executive | President & CEO of Paramount Pictures and Nickelodeon | None | Leads Paramount Pictures and Nickelodeon. Oversaw box office hits like Top Gun: Maverick and Smile. Expanded franchises like Transformers and PAW Patrol. | |
Chris McCarthy Executive | President & CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks | None | Oversees Showtime, MTV, and Paramount Media Networks. Drove Paramount+ growth and expanded franchises like Yellowstone and 1923. Consolidated nine businesses into one portfolio. | |
Doretha (DeDe) Lea Executive | Executive Vice President, Global Public Policy and Government Relations | None | Oversees public policy and government relations. Extended employment through 2028. Previously held similar roles at Viacom and Belo Corp. | |
George Cheeks Executive | President & CEO of CBS | None | Leads CBS and oversees content for Paramount+. Previously held senior roles at NBCUniversal and Viacom. Maintained CBS as the most-watched broadcast network for 15 consecutive seasons. | |
Julia Phelps Executive | Executive Vice President, Chief Communications and Corporate Marketing Officer | None | Leads communications and marketing strategies. Previously held senior roles at Viacom, including EVP of Communications and Culture. | |
Nancy Phillips Executive | Executive Vice President, Chief People Officer | None | Oversees HR functions. Played a key role in the Viacom-CBS merger integration. Previously held HR leadership roles at Nielsen, Broadcom, and Hewlett-Packard. | |
Naveen Chopra Executive | Executive Vice President & Chief Financial Officer | None | CFO since 2020. Previously held CFO roles at Amazon Devices, Pandora Media, and TiVo. Key leader in financial reporting and compliance at Paramount. | |
Barbara M. Byrne Board | Director | Director at LanzaTech, Carta, and PowerSchool; Trustee at Institute of International Education | Financial expert with over 35 years in investment banking. Serves on multiple boards and advisory committees. | |
Linda M. Griego Board | Director | President & CEO of Griego Enterprises; Trustee at MLK Health and Wellness CDC and National Trust for Historic Preservation | Longtime director with experience in business management and public service. Previously served on boards of AECOM and American Funds. | |
Shari E. Redstone Board | Non-Executive Chair of the Board | President & CEO of National Amusements, Co-Founder of Advancit Capital, Trustee at Paley Center for Media and Dana Farber Cancer Institute | Chair of Paramount's Board since 2019. Leads National Amusements and co-founded Advancit Capital. Extensive experience in media and corporate governance. | |
Susan Schuman Board | Director | Executive Chair of SYPartners; Vice Chair of kyu Collective; Board member of Management Leadership for Tomorrow | Co-founder of SYPartners, specializing in business transformation. Serves on multiple advisory boards. |
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With the planned reduction of approximately 15% of your U.S.-based workforce to achieve $500 million in annual run rate cost savings, how will you ensure that these cuts do not negatively impact your ability to produce best-in-class content and maintain competitiveness during the interim period before the Skydance transaction closes?
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Given the exit from the Tving partnership in South Korea and your intention to explore strategic partnerships to accelerate profitability in international markets, can you elaborate on your specific plans for the international streaming footprint of Paramount+ and how these might impact both scale and profitability?
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The recent $6 billion noncash goodwill impairment charge was attributed to declines in the linear affiliate marketplace and the valuation implied by the Skydance transaction; can you provide more detail on the specific indicators that led to this charge and how it affects your strategy for the cable network reporting unit?
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As cord-cutting accelerates and more content shifts to streaming platforms like Paramount+, how do you plan to address concerns from CBS affiliates regarding the value they receive from national programming and the potential pressure to moderate or decline reverse compensation fees?
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Considering that the Direct-to-Consumer segment was profitable in Q2 but is expected to incur losses in Q3 and Q4 due to content expenses and seasonality, what are the key factors that give you confidence in achieving Paramount+ domestic profitability in 2025 on a full-year basis, and what challenges could potentially impact this timeline?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Skydance Media, LLC | 2024 | Skydance’s acquisition by Paramount Global is structured as a two‐step deal where Skydance first acquires National Amusements, Inc. (NAI) for $2.4 billion in cash and then merges with Paramount Global to form “New Paramount” valued at $4.75 billion, with key elements including issuance of Class B shares at $15 each, a significant 45-day go-shop period, and planned closing in the first half of 2025. |
National Amusements, Inc. (NAI) | 2024 | The NAI acquisition involves the Skydance Investor Group acquiring NAI for $2.4 billion in cash as part of the broader merger, enabling the new entity to offer Paramount stockholders a cash/stock election with premiums of 48% and 28% for Class B and A shares respectively, aiming to stabilize profitability, invest in digital platforms, and finalize regulatory approvals by early 2025. |
Recent press releases and 8-K filings for PARA.
- Paramount Global filed an 8-K on March 12, 2025, announcing the commencement of its merger transaction process and the mailing of election forms to its Class A and Class B common stockholders.
- The filing details critical election deadlines and instructions for shareholders to choose their preferred merger consideration, reflecting steps required under the Transaction Agreement with Skydance Media and New Paramount.
- It also includes forward-looking statements and cautions regarding potential risks and uncertainties associated with completing the merger, outlining possible business and legal challenges.