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Mission Impossible: Paramount reckoning
  + stars: | 2023-07-05 | by ( Jennifer Saba | ) www.reuters.com   time to read: +8 min
NEW YORK, July 5 (Reuters Breakingviews) - Paramount Global’s (PARA.O) predicament is worthy of its successful “Mission: Impossible” franchise. Over the past year or so, Warren Buffett’s Berkshire Hathaway (BRKa.N) has bought and increased its stake in Paramount to about 15%. Without the funding, her closely held firm might have needed to pledge more of its Paramount stock against a loan. Streaming service Paramount+ is similar to Netflix, whose enterprise is worth 5 times next year’s estimated revenue. “Mission: Impossible Dead Reckoning Part One,” from Paramount Pictures, opens in movie theaters on July 12.
Persons: Shari Redstone, Looney, Walt Disney, Sumner, Warren Buffett’s Berkshire Hathaway, Goldman Sachs, Byron Trott, Rudolph Valentino, Mae West, Marx, Trustbusters, Martin Davis, Sumner Redstone, Simon, Schuster, Walt, Jeffrey Goldfarb, Sharon Lam, Streisand Neto Organizations: YORK, Reuters, Paramount, Warner Bros Discovery, AT, Netflix, Apple, Comcast, Electronic Arts, MSD Partners, Viacom, Audio Communications, CBS, Nickelodeon, MTV, Time Warner, Reuters Graphics Reuters, Tiffany Network, National Football League, Fox, Amazon, MGM, U.S, Penguin Random, Walt Disney, Amusements, Paramount Global, BDT Capital Partners, , Paramount Pictures, Thomson Locations: U.S, Gulf, Western, NAI
A second investor in London-based Revolut has slashed its valuation of the fintech this year. Molten Ventures, a long-term backer, has reduced the value of its position in the company by 40%. Revolut is the latest fintech star to take a valuation haircut, following on from the likes of Stripe and Klarna. A second Revolut investor has slashed its valuation of the London-based fintech company as the price correction of high-value private startups continues. Molten cut the value of its stake in Revolut from £91.3 million ($116.8 million) last year to £54.5 million ($69.7 million) as of the end of March.
Persons: Revolut, SoftBank, Draper, Martin Davis, Davis Organizations: Molten Ventures, Tiger Global, BDO, Financial, Financial Times, City Locations: London, Revolut, Europe
When a friend went for an interview at Doubleday in Manhattan, Mr. Snyder tagged along, and before long was hired as a trainee. “He could rub the material of a jacket between his thumb and forefinger,” Mr. Snyder said in The Times Magazine profile, “and in no more than a second, proclaim, ‘$3.34 a yard.’ He would be right to the penny. I had that gift of feel when it came to books.”In a climate that Mr. Snyder helped create, he billed himself as a businessman rather than as a man of letters. In addition to his son Matthew, from his marriage to Ms. Freund, he is survived by a daughter from that marriage, Jackie; two other sons, Richard Elliott Snyder Jr. and Coleman Yorke, from his marriage to Ms. Yorke; and two grandchildren. Mr. Snyder thrived under Simon & Schuster’s ownership by Gulf and Western Industries, which bought the company in 1975.
Persons: Snyder, Mr, Korda, Dick, ” Mr, Snyder’s, Ruth Freund, Laura Yorke, Terresa Liu, Matthew, Ms, Freund, Jackie, Richard Elliott Snyder Jr, Coleman Yorke, Yorke, Simon, Charles G, Bludhorn, Martin Davis, Davis Organizations: Doubleday, The Times Magazine, Western Industries, Paramount Pictures Locations: Manhattan, Gulf, Western
LONDON, Nov 2 (Reuters) - European tech venture capital firm Molten Ventures (GROW.L) cut the value of its portfolio by about 17%, measured in constant currency, on Wednesday to reflect the drop in public markets such as Nasdaq. However, he said the strength of the dollar had provided a tailwind of around 5%, which meant the overall portfolio was down 12%, a "relatively modest drop". He said demand for the technology and services it backed remained strong, with revenue growing at an average rate of more than 60% in its core portfolio this year and forecast growth of 70% next year. "As a result the revenue of our companies have remained pretty stable." Reporting by Paul Sandle; editing by Sarah YoungOur Standards: The Thomson Reuters Trust Principles.
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