Connect with us

World

Paramount Global Set to Unveil New Leadership Structure; Anxiety Runs High on Earnings Eve

Published

on

Paramount Global Set to Unveil New Leadership Structure; Anxiety Runs High on Earnings Eve

As turmoil continues to surround the future of Paramount Global, details surrounding interim leadership and its proposed Skydance deal are coming to light, multiple sources told Variety.

Sunday was a consequential day in Shari Redstone’s ongoing exclusive bargaining window with David Ellison‘s Skydance, one that would see the Hollywood scion take majority ownership of Paramount Global and its owner National Amusements Inc. Skydance offered its “best and final” offer to Redstone on Sunday, sources added.

On the eve of its quarterly earnings call, two insiders familiar with Paramount Global said the board is expected to announce a new leadership committee to replace ousted CEO Bob Bakish. Expected to be named to these leadership roles are Paramount Pictures CEO Brian Robbins, CBS chief executive George Cheeks and MTV Entertainment Group President Chris McCarthy, the sources said.

Multiple insiders close to Paramount’s ongoing sales process said that letting Bakish go was the right move, but the new leadership structure is problematic at this fragile moment. There will not be a sole leader guiding the corporation through a potential sales process, said the insiders, and Cheeks, Robbins and McCarthy are not accustomed to collaboration across their portfolios. All details that are raising internal and external anxiety. There is, of course, Redstone — who is being closely watched by Wall Street and the media sector.

A third source familiar with the company said Redstone has been resolute in preferring the Skydance bid, which promises to keep her family media empire in tact and on track to provide future shareholder value. Or, she could appease some of her shareholders and evaluate a competing offer from Apollo and Sony Entertainment — a deal that would call for major structural changes, with asset liquidation and job losses likely. And that’s if that scenario could survive inevitable regulatory scrutiny.

Advertisement

Heading into earnings, the company has yet to disclose whether its network carriage deal with Charter, the country’s second largest cable operator next to Comcast, has been renewed. It is set to expire April 30.

The flurry of weekend activity is sure to weigh heavy on Paramount Global’s share price on Monday, and change the economics of any potential sale. Paramount Global is scheduled to report first quarter 2024 results tomorrow after market close. The earnings call with analysts — sans Bakish but possibly with the new leadership team — is set to start at 4:30 p.m. ET.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

World

Rubio joins crucial G7 talks as Iran war set to dominate second day

Published

on

Rubio joins crucial G7 talks as Iran war set to dominate second day

Published on

On today’s show:

ADVERTISEMENT


ADVERTISEMENT

Top story: G7 Summit debrief with Méabh Mc Mahon and Maia de la Baume.

Advertisement

Explainer by Jakub Janas: What’s the point of the G7 meeting?

Iran war update with Méabh Mc Mahon and Babak Kamiar.

Interview with Ghassan Salamé, Lebanese Culture Minister.

Interview with Valérie Hayer, Member of the European Parliament (Renew Europe, France).

When and where to watch Europe Today?

You can join Euronews’ chief anchor Méabh Mc Mahon and our EU editor Maria Tadeo live on TV and Euronews’ website and digital platforms every weekday.

Advertisement

Our new format brings you the day’s key events plus crucial analysis of all the stories shaping the EU and beyond. It’s also available as a newsletter and podcast.

Continue Reading

World

Senior Iranian official tells Reuters US-Iran talks unlikely | The Jerusalem Post

Published

on

Senior Iranian official tells Reuters US-Iran talks unlikely | The Jerusalem Post

The official additionally stated that Iran has reviewed a US 15-point proposal for ending the ongoing war in the Middle East and deemed it “one-sided and unfair,” serving only US and Israeli interests, and lacking “the minimum requirements for success.”

“In brief, the proposal suggests that Iran would relinquish its ability to defend itself in exchange for a vague plan to lift sanctions,” he told Reuters.

No arrangement for negotiations has been established yet, the official continued, adding that Turkey and Pakistan are attempting to “establish common ground between Iran and the United States and reduce differences.”

The proposal, which was conveyed to Iran through Pakistan, “was reviewed in detail on Wednesday night by senior Iranian officials and the representative of Iran’s Supreme Leader,” the official said.

On Wednesday, Iranian regime-tied Press TV cited an Iranian official as stating that Tehran considered the conditions of the proposal excessive and would only agree to end the war at a time of its choosing if its conditions are met.

Advertisement

According to an N12 News report on Tuesday, citing three sources familiar with the details of the potential plan, the US was considering declaring a month-long ceasefire during which negotiations on the agreement would take place.

The 15-point plan reportedly contained terms including the dismantling of all existing Iranian nuclear capabilities, a commitment that Iran will discontinue efforts to obtain nuclear weapons, and a requirement that any already enriched uranium be moved out of Iran.

Continue Reading

World

Zelenskyy claims US tied Ukraine security guarantees to giving up Donbas, White House denies

Published

on

Zelenskyy claims US tied Ukraine security guarantees to giving up Donbas, White House denies

NEWYou can now listen to Fox News articles!

U.S. security guarantees for Ukraine are being tied to Kyiv ceding the eastern Donbas region to Russia as part of a potential peace deal, Ukrainian President Volodymyr Zelenskyy told Reuters in an interview published Thursday.

“The Americans are prepared to finalize these guarantees at a high level once Ukraine is ready to withdraw from Donbas,” Zelenskyy said, describing a proposal he warned could undermine both Ukraine’s defenses and broader European security.

But a U.S. official, speaking on background, told Fox News Digital the claim is false.

Zelenskyy’s comments point to growing pressure from President Donald Trump to reach a swift end to the war, now in its fourth year following Russia’s 2022 invasion. 

Advertisement

ZELENSKYY SAYS PEACE DEAL IS CLOSE AFTER TRUMP MEETING BUT TERRITORY REMAINS STICKING POINT

Zelenskyy suggested the administration’s approach is influenced in part by competing global crises, including the ongoing conflict involving Iran.

U.S. security guarantees for Ukraine are being tied to Kyiv ceding the eastern Donbas region to Russia as part of a potential peace deal, Ukrainian President Volodymyr Zelenskyy said.  (Pavlo Bahmut/Ukrinform/NurPhoto via Getty Images)

“The Middle East definitely has an impact on President Trump,” Zelenskyy said. “President Trump, unfortunately, in my opinion, still chooses a strategy of putting more pressure on the Ukrainian side.”

Talks between the United States, Russia and Ukraine have taken place in Abu Dhabi and Geneva in 2026, but key issues remain unresolved, including how Ukraine’s future security would be guaranteed and who would fund its long-term defense.

Advertisement

Zelenskyy warned that abandoning Donbas would hand Russia heavily fortified Ukrainian defensive lines, weakening Kyiv’s position and potentially enabling future aggression.

“I would very much like the American side to understand that the eastern part of our country is part of our security guarantees,” he said.

ZELENSKYY CLAIMS TRUMP SAID US WILL CONSIDER GIVING UKRAINE DECADES OF SECURITY GUARANTEES

Ukrainian President Volodymyr Zelenskyy warned that abandoning Donbas would hand Russia heavily fortified Ukrainian defensive lines.  (Joe Raedle/Getty Images)

Russian President Vladimir Putin has long insisted that full control of Donbas is central to Moscow’s war aims. While Russian forces have made gains, analysts cited by Reuters say progress has been slow, and capturing the remaining territory could take significant time and manpower.

Advertisement

Zelenskyy also warned that Moscow is betting Washington will lose interest if negotiations stall. 

“Russia is counting on the fact that the United States will not have the strength or patience to bring this to an end,” he said.

Despite tensions over negotiations, Zelenskyy thanked the Trump administration for continuing deliveries of Patriot missile defense systems, which Ukraine relies on to intercept Russian ballistic missiles. 

“Deliveries to us were not stopped. I’m very grateful to President Trump, and to his team,” he said, while adding that supplies remain insufficient.

In parallel with the diplomatic push, Zelenskyy signaled a broader strategy to expand Ukraine’s role as a security provider, particularly in the Middle East, where countries are seeking solutions to large-scale drone and missile threats.

Advertisement

UKRAINE PEACE TALKS PRODUCTIVE AS EX-GOVERNMENT OFFICIAL SAYS COUNTRY RETHINKING ‘UNCOMPROMISING’ STANCE

A cemetery worker prepares a burial vault at military cemetery outside of the city of Dnipro, Ukraine, May 25, 2023. (Seth Herald/Anadolu Agency via Getty Images)

“The United States has reached out to us regarding their bases in Middle Eastern countries,” Zelenskyy wrote on X Thursday, adding that Saudi Arabia, Qatar, the United Arab Emirates, Bahrain, Jordan and Kuwait have also approached Ukraine.

He said Ukrainian teams are already on the ground sharing operational experience, particularly in countering mass drone attacks. 

“No matter how many Patriots, THAADs, or other air defense systems are in the Middle East, that alone is not enough,” he wrote. “There are modern interceptors designed to counter heavy drone strikes.”

Advertisement

Zelenskyy also indicated Ukraine is exploring defense trade arrangements, offering to sell surplus systems and expertise while seeking access to air defense missiles it currently lacks. 

“Funding is the scarcest resource today,” he wrote, noting Ukraine’s defense industry is operating at roughly half capacity and needs additional financing to scale drone production.

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

Ukraine is exploring defense trade arrangements, the country’s president said.  (Iryna Rybakova/Press Service of the 93rd Kholodnyi Yar Separate Mechanized Brigade of the Ukrainian Armed Forces/Reuters)

In separate posts tied to an address at a Joint Expeditionary Force summit, Zelenskyy emphasized that Ukraine’s battlefield experience could play a broader role in European and global security.

Advertisement

“We have this experience. … Let’s bring all of this together even more,” he wrote, calling for deeper cooperation with European partners and warning that the continent must build its own capacity to produce air defense systems rather than rely on external suppliers.

Reuters contributed to this story.

Advertisement
Continue Reading

Trending