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Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments

Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York

☆ How Dana Walden could defy critics and become Disney's first female CEO
▼ + stars: | 2024-04-01 | by ( Alex Sherman | ) www.cnbc.com time to read: +22 min

The appointment would make Walden the first female CEO of the Walt Disney Co. in its 100-year history. "Anybody they choose will have never been the Disney CEO prior to that." At Disney, Walden has hit several home runs, including FX's "The Bear," Hulu's "The Dropout" and "Only Murderers in the Building," and ABC's "Abbott Elementary." Former Disney CEO Bob Chapek CNBCChapek climbed the corporate ladder at Disney for 30 years by showcasing his business and finance chops. Combating female stereotypesIf Walden were appointed CEO, she would be the first woman to run the century-old company.

Persons: Dana Walden, Disney Entertainment Rich Polk, Peter Chernin, Rupert, Walden, Bob Iger, he'd, Fox, Chernin, Peter Roth, Roth, Peter Chernin Getty, Josh D'Amaro, Jimmy Pitaro, Alan Bergman, Nelson, Peltz, Iger, Bob Chapek, Walden's, Bergman, she's, hasn't, —, Walden —, Dana doesn't, Jennifer Salke, Jennifer Salke Stephen Desaulniers, CNBC Walden, Richard Plepler, Craig Hunegs, Carol Burnett's, Carrie Hamilton, George Burns, Dean Martin, roasts, Martin, Buddy Hackett, Matt Walden, Bender, Goldman, she'd, Arsenio, Lucie Sulhany, Dana Walden Jason Laveris, Gary Newman, Newman, It's, Dana, Ryan Murphy, John Landgraf, Jan, Seth MacFarlane, Guy, Tuck, MacFarlane, Murphy, Steve Levitan, Dan Fogelman, Rick Rosen, Rosen, Howard Gordon, Levitan, Peter Rice, Rice, wasn't, Chapek, Rich Appel, Gary, it's, Percy Jackson, didn't, Bob Chapek CNBC Chapek, showrunners, Scarlett Johansson, Kristina Schake, Jay Sures, Sures, Amazon's Salke, Greta Gerwig, Gloria, Murphy's, Miss Jones, There's, Steve Levitan Peter, Hopper, Critics, She's, Salke, WME's Rosen Organizations: Disney Entertainment, Getty, Century Fox Filmed Entertainment, Rupert Murdoch's News Corp, Walt Disney Co, Century Fox, Fox, Century Fox Television, Warner Bros, Disney, ESPN, Entertainment, CNBC, Trian Partners, Iger, Amazon Studios, HBO, Disney TV Studios, Hollywood, Westlake School for Girls, Harvard, Westlake School, The Friars Club, University of Southern, Paramount, Paramount Domestic Television, Filmmagic, Fox Broadcasting, Walden, CBS, FX Networks, Bob Chapek CNBC, Indiana University, Michigan State University, United Talent Agency, Hulu Locations: Santa Barbara , California, Walden, Brentwood , California, She's, Disney's, Studio City, Los Angeles, Las Vegas, University of Southern California, Chapek, Hollywood, Walden's, Iger, America

☆ Who are the potential leading candidates to succeed Bob Iger as Disney CEO?
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWho are the potential leading candidates to succeed Bob Iger as Disney CEO? Alex Sherman discusses the executives inside Disney who could potentially be in the lead to eventually take over for Bob Iger as CEO, as the proxy fight with activist investor Nelson Peltz comes to a head.

Persons: Bob Iger, Alex Sherman, Nelson Peltz Organizations: Disney

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Disney CEO Bob Chapek on ESPN's futureBob Chapek, former Disney CEO, sat down with CNBC's Alex Sherman in his first public interview since leaving Disney to discuss his thoughts on ESPN's future.

Persons: Bob Chapek, CNBC's Alex Sherman Organizations: Former, Disney

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChairman Jimmy Pitaro on ESPN's uncertain futureESPN chairman James Pitaro sat down with CNBC to discuss the company's future as it faces serious cord cutting and competition from tech companies like Amazon and YouTube with deeper pockets than parent company Disney.

Persons: Jimmy Pitaro, James Pitaro Organizations: ESPN, CNBC, Amazon, Disney

☆ Former Disney CEO Bob Chapek breaks silence, says there's no strategic need for ESPN partners
▼ + stars: | 2024-03-21 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

In his first public comments since Disney fired him as CEO in November 2022, Bob Chapek told CNBC he sees no reason for Disney-owned ESPN to add minority partners. The company hasn't yet announced a deal to sell a stake in ESPN. Disney owns 80% of ESPN and Hearst owns the other 20%, a structure that's been in place since 1996. Bringing on a technology or telecommunications company such as Verizon or Apple could give ESPN broader distribution options by reaching larger customer bases. That is something, as Bob [Iger] has said, that we are very much open to, but this is about partnership and accelerating the launch or the adoption of ESPN flagship."

Persons: Bob Chapek, Chapek, Bob Iger, CNBC's David Faber, Disney, Iger, Disney's, Jimmy Pitaro, Pitaro, Bob Organizations: Disney, CNBC, ESPN, National Football League, National Basketball Association, Hearst, Verizon, Apple Locations: American

☆ ESPN’s model is eroding. Past and present execs are split on how it can protect its dominance
▼ + stars: | 2024-03-21 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

For more than 40 years, the world's largest all-sports network has grown annual revenue by increasing cable subscription fees. In 2023, ESPN's monthly carriage fee was $9.42 per subscriber, according to data from S&P Global Market Intelligence. Since 2013, tens of millions of Americans have canceled their cable TV subscriptions, raising questions about ESPN's future in an increasingly fragmented media landscape. Second, in fall 2025 ESPN will launch its flagship streaming service that will include everything ESPN has to offer, both live and on demand. The product will go well beyond ESPN+, which exists as a $10.99 streaming service that doesn't include ESPN's most expensive programming, such as all of "Monday Night Football."

Organizations: Disney, ESPN, P Global Market Intelligence, CNBC, Warner Bros . Discovery, Fox, ESPN Bet

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow ESPN is trying to stay relevant as cable declinesESPN has been the most dominant sports channel for more than 40 years. It holds live sports rights including the NFL's Monday Night Football, the NBA and the WNBA. But as millions of Americans cancel their cable TV subscriptions and big tech companies like Amazon and YouTube bid on live sports, ESPN has had to adjust — or decline along with the pay-TV business. CNBC sat down with former and current executives to talk about the future of the sports juggernaut.

Organizations: ESPN, Football, NBA, Amazon, YouTube, CNBC

☆ CNBC's Alex Sherman talks new CNBC digital doc 'ESPN's Fight for Dominance'
▼ + stars: | 2024-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC's Alex Sherman talks new CNBC digital doc 'ESPN's Fight for Dominance'Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Alex Sherman, Brian Sullivan, “ Organizations: CNBC

☆ Paramount falls short of revenue expectations but posts surprise profit, strong streaming results
▼ + stars: | 2024-02-28 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +3 min

Paramount Global missed revenue expectations for the fourth quarter on Wednesday but posted a surprise quarterly profit and posted strong results from its streaming platform Paramount+. Paramount — home to brands such as CBS, Showtime, BET, Nickelodeon and its namesake movie studio — reported a 6% year-over-year revenue decline but posted notable strides in its streaming segment. Paramount+, its flagship streaming service, reached 67.5 million subscribers during the period, a net increase of 4.1 million, and recorded 69% revenue growth year over year. Subscription revenue in the fourth quarter grew 43%, partially driven by price increases, and revenue across its entire direct-to-consumer segment grew 34%. Paramount saw a 27% jump in global viewing hours across Paramount+ and Pluto TV during the fourth quarter.

Persons: Bob Bakish, we've, CNBC's Alex Sherman Organizations: Paramount Global, Paramount, CBS, Showtime, BET, Nickelodeon, Warner Bros, Discovery, CNBC PRO Locations: LSEG

☆ Warner Bros. Discovery halts merger talks with Paramount Global, sources say
▼ + stars: | 2024-02-27 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Discovery David Zaslav speaks during the New York Times annual DealBook summit on November 29, 2023 in New York City. Warner Bros. Warner Bros. Warner Bros. Paramount Global is also trading close to a 52-week low as it prepares to announce its earnings Wednesday.

Persons: David Zaslav, David Ellison, Byron Allen, isn't, Bob Bakish, Tom Rogers Organizations: Warner Bros, New York Times, Paramount Global, Skydance Media, Media, Comcast, CNBC, Paramount, Wall Street, Warner Bros . Discovery, Discovery Locations: New York City

☆ Altice USA shares spike 50% on report Charter is considering acquisition
▼ + stars: | 2024-02-26 | by ( Jacob Pramuk | ) www.cnbc.com time to read: +1 min

Altice USA shares spiked as much as about 50% on Monday following a report that Charter Communications is considering buying the broadband company. Charter is working with financial advisors as it considers whether it would make sense to buy Altice USA, Bloomberg reported Monday, citing people with knowledge of the matter. Charter declined to comment on the report, while Altice USA could not immediately be reached for comment. Altice USA shares had plunged more than 40% this year before their jump Monday, while Charter's stock has fallen about 25%. Altice USA owns brands led by broadband, TV and phone company Optimum.

Persons: — CNBC's Alex Sherman Organizations: Altice USA, Communications, Bloomberg, Altice Locations: USA, Altice USA

☆ Warner Bros. Discovery misses estimates for revenue and profit but boosts free cash flow
▼ + stars: | 2024-02-23 | by ( Alex Sherman | ) www.cnbc.com time to read: +1 min

Discovery missed analyst targets for both profit and revenue in the fourth quarter but boosted free cash flow as its streaming service Max ended 2023 profitable for the first time. Discovery generated $3.31 billion in free cash flow in the fourth quarter and ended 2023 with $6.16 billion in free cash flow, up 86% from a year prior. Chief Executive Officer David Zaslav has prioritized boosting free cash flow and shrinking the company's debt. Discovery paid down $1.2 billion of debt in the quarter and $5.4 billion in debt in 2023. Here's what the company reported for the quarter ended Dec. 31, versus analysts' estimates, according to LSEG, formerly known as Refinitiv:

Persons: Max, David Zaslav, Zaslav Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, Warner Bros, Discovery, Max, Disney, Comcast, Paramount Global Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S

☆ Warner Bros. Discovery is hyping free cash flow. Investors don't appear to be buying it
▼ + stars: | 2024-02-23 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Discovery investors are The Bobs, Chief Executive Officer David Zaslav is Tom and the disconnect he's worked up about is free cash flow. Discovery on Friday said it generated $3.3 billion in free cash flow during the fourth quarter and ended the year with $6.2 billion in free cash flow, up 86% from a year prior. For more than year, Zaslav has repeatedly told the investment community that his priority is to boost free cash flow to improve the health of the company and to pay down debt. Discovery has paid down $12.4 billion in debt in less than two years since announcing the merger of Discovery and WarnerMedia. We said we were going to generate meaningful free cash flow.

Persons: David Zaslav, Bob, Tom, Zaslav Organizations: Warner Bros . Discovery, Warner Bros, Discovery

☆ Capital One’s acquisition has $1.4 billion breakup fee if rival bid emerges, but none if regulators kill deal
▼ + stars: | 2024-02-22 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Capital One 's blockbuster takeover proposal for Discover Financial includes a $1.38 billion breakup fee if Discover decides to go with another buyer, but no such fee if U.S. regulators kill the deal, people with knowledge of the matter told CNBC. Capital One said late Monday it had an agreement to purchase rival credit card player Discover in an all-stock transaction valued at $35.3 billion. Watchers of the Capital One agreement are taking particular interest in whether U.S. banking regulators will allow it to happen. Neither side will owe the other a breakup fee if regulators block the acquisition, which is said to be typical for bank deals. The deal happened after Capital One approached Discover, and didn't include a wide search for all possible bidders, according to one of the people.

Persons: Richard Fairbank, — CNBC's Alex Sherman Organizations: Discover Financial, CNBC, Capital, Discover, Mobile, U.S . Department of Justice, Regulators, Bank, Federal Reserve, Currency, The Justice

☆ Pay TV distributors may be planning their attack against new sports joint venture
▼ + stars: | 2024-02-15 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

It's been about a week since Disney , Warner Bros. Discovery and Fox announced a new joint venture to offer live sports outside the traditional cable bundle, and pay TV distributors are still trying to figure out just how disruptive the new service will be. If Disney, Warner Bros. Discovery and Fox allow distributors to offer the same product, in addition to the standard cable bundle, there's likely to be minimal consternation about the joint venture. Privately, however, leaders at Disney, Warner Bros.

Persons: It's Organizations: Disney, Warner Bros . Discovery, Fox, Comcast, Charter, DirecTV, ABC, ESPN, ESPN2, TNT, TBS

☆ Paramount Global lays off about 800 employees, a day after announcing record Super Bowl ratings
▼ + stars: | 2024-02-13 | by ( Alex Sherman | ) www.cnbc.com time to read: +1 min

Paramount Global is laying off hundreds of employees, just one day after the company announced CBS had record Super Bowl viewership, Chief Executive Officer Bob Bakish said Tuesday in an internal memo to employees. Paramount Global ended 2022 with about 24,500 full-time and part-time employees. Paramount Global owns a variety of assets including CBS, Paramount Pictures, Pluto TV, Paramount+ and cable networks including Nickelodeon, BET and Comedy Central. The media company had warned employees of impending cuts in an internal memo last month. Bakish said at the time that Paramount Global needed to "operate as a leaner company and spend less."

Persons: Bob Bakish, Bakish, – Organizations: Paramount, MTV, PSD Bank, Paramount Global, CBS, Paramount Pictures, Pluto TV, Nickelodeon, BET, Comedy Central, Skydance Media, Warner Bros, Discovery, CNBC Locations: Duesseldorf, Germany

☆ Wall Street is overreacting to new sports joint venture, says EW Scripps CEO
▼ + stars: | 2024-02-08 | by ( Alex Sherman | ) www.cnbc.com time to read: +1 min

Local TV station owners including Sinclair, TEGNA and EW Scripps all saw their valuations plummet this week after Disney , Warner Bros. Discovery and Fox announced a new sports joint venture set to launch this fall. But Wall Street's reaction is overblown, according to EW Scripps CEO Adam Symson. This means consumers of the new bundle will be able to get their local news and sports from ABC and Fox. A spokesperson for the joint venture declined to comment.

Persons: Sinclair, TEGNA, Adam Symson, Symson, he's Organizations: Scripps, Disney, Warner Bros . Discovery, Fox, ESPN, TNT, CBS, NBC, ABC, wouldn't, CNBC, Affiliates, YouTube, Hulu, Live Locations: Phoenix, Detroit, Cleveland, Tampa

☆ New sports streaming bundle could be a 'monster' — or a dud. Here are the biggest remaining questions
▼ + stars: | 2024-02-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +9 min

The service will launch this fall and cater to sports fans who don't subscribe to the traditional cable bundle. One person associated with the launch of the new venture told CNBC the platform will be "a monster" and massively disrupt cable TV. Cable TV has been relegated to an add-on that helps keep people subscribing to high-speed internet. The cable bundle has largely survived because it still contains exclusive live news and sports. Previously, the only way for cord cutters to get ESPN outside the cable bundle would have been that coming service.

Persons: LeBron James, Jevone Moore, it's, Lachlan Murdoch, NBC's Peacock, Bob Iger, Rich Greenfield, Max, David Zaslav's, There's, David Zaslav, Lightshed's Rich Greenfield Organizations: Los Angeles Lakers, NBA, Los Angeles Clippers, Crypto.com Arena, Warner Bros . Discovery, Fox, Disney's ESPN, Comcast, DirecTV, CNBC, YouTube, Charter, Cable, Verizon, Mobile, Satellite, Google, Hulu, Live, Disney, Warner Bros, NBC, CBS, National Football League, Paramount, ESPN, Fox News, CNN, MSNBC, Wall Street, Financial Times, TNT, TBS, HGTV, Discovery, Paramount Global Locations: Los Angeles

☆ ESPN, Fox and Warner Bros. Discovery to launch a joint sports streaming service
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailESPN, Fox and Warner Bros. Discovery to launch a joint sports streaming serviceCNBC's Julia Boorstin and Alex Sherman join 'The Exchange' to discuss how ESPN, Fox and Warner Bros. Discovery are joining hands to launch a joint sports streaming platform this year.

Persons: Julia Boorstin, Alex Sherman Organizations: ESPN, Fox, Warner Bros

☆ Wall Street loves Disney's kitchen-sink quarter, but Nelson Peltz says he isn't backing down
▼ + stars: | 2024-02-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

Nelson Peltz, founding partner and CEO of Trian Fund Management, speaks with CNBC's Andrew Ross Sorkin on July 17, 2013 in New York. Are you not entertained, Nelson Peltz? Both Disney's higher profits, and string of content and partnership announcements, appeared to form a direct rebuttal to Peltz's concerns about the company. It was hard to keep up with Disney's announcements this quarter:ESPN finally set a launch date for its direct-to-consumer service: August or fall of 2025. It's only logical that the mountain of announcements came this quarter, given activist pressure from Trian and Blackwells Capital.

Persons: Nelson Peltz, CNBC's Andrew Ross Sorkin, Peltz, Jay Rasulo, Michael Froman, Maria Elena Lagomasino, Bob Iger, CNBC's Julia Boorstin, Iger, Boorstin, Taylor, Trian, Disney Organizations: Trian Fund Management, Disney, CNBC, ESPN, Epic Games, Warner Bros . Discovery, Fox, Blackwells, Disney Board Locations: New York, Trian

☆ ESPN will launch its flagship direct-to-consumer service in the fall of 2025
▼ + stars: | 2024-02-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +1 min

ESPN will launch its flagship direct-to-consumer service in either August or the fall of 2025, Disney CEO Bob Iger announced during an interview Wednesday with CNBC's Julia Boorstin. The service will include all of ESPN's programming and feature new personalization and integration with ESPN's fantasy platforms and ESPN Bet. The direct-to-consumer service would have been the first time noncable subscribers could access ESPN outside of the traditional cable bundle. ESPN didn't announce a price for the flagship direct-to-consumer service. Disney already has a sports streaming service in ESPN+, which ended the quarter with 25.2 million subscribers, down from 26 million a quarter ago.

Persons: Bob Iger, CNBC's Julia Boorstin, ESPN didn't Organizations: NFL, ESPN, Chicago Bears, Minnesota Vikings, Soldier, Disney, ESPN Bet, Fox, Warner Bros, CNBC PRO Locations: Chicago

Walt Disney 's ESPN, Fox and Warner Bros. Disney, Fox and Warner Bros. It will consist of all the broadcast and cable networks owned by Disney, Fox and Warner Bros. Warner Bros. Fox will include the Fox broadcast station along with FS1, FS2 and BTN.

Persons: Walt Disney, Max Organizations: Disney, ESPN, Fox, Warner Bros, ESPN2, ABC, TNT, TBS Locations: Brooklyn, New York

☆ Why Shari Redstone is trying to sell Paramount — and why she needs the right deal
▼ + stars: | 2024-02-03 | by ( Alex Sherman | ) www.cnbc.com time to read: +9 min

When Redstone's father, Sumner Redstone, the founder of National Amusements, died in 2020, Shari Redstone inherited his shares. Paramount Global has a market capitalization of nearly $10 billion and about $13 billion of net debt. If she agrees to sell either National Amusements or all of Paramount Global, she'll need buy in from other investors. Talks are further along with Redstone regarding NAI than they are with Paramount Global, two of the people said. Paramount Global charges $5.99 per month for Paramount+ with advertising.

Persons: Shari Redstone, Mike Blake, it's, David Ellison, Byron Allen, SpongeBob, I'm, National Amusements Shari Redstone, Brendan Mcdermid, Redstone's, Sumner Redstone, Shari, John Malone, Bob Bakish, It's, Banker Byron Trott, Warren Buffett, Berkshire Hathaway, Skydance, Spokespeople, There's, CNBC's David Faber, Bakish, Jim Cramer Organizations: National Amusements, WSJ Tech, Reuters Paramount Global, Paramount, Paramount Global, Skydance Media, Paramount Pictures, CBS, Nickelodeon, Comedy Central, Hollywood, Allen, Co, Sun, Reuters, Amusements Inc, National, Warner Bros, Discovery, CNBC, Comcast, NBCUniversal, Paramount Global's, Amusements, U.S, Disney, Charter, CNBC Paramount Global, Viacom Locations: Laguna Beach , California, Israel, Sun Valley , Idaho, Wells Fargo, America, Berkshire, NAI, Skydance, U.S

☆ Byron Allen, offering $14 billion for Paramount, has a long history of media bids that haven't materialized
▼ + stars: | 2024-01-31 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +4 min

Byron Allen, founder, chairman and CEO of the Allen Media Group, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Byron Allen, the media mogul offering $14 billion for Paramount Global , told CNBC on Wednesday that he has the money to finance a deal, despite skepticism around his deal-making. Allen told CNBC he hasn't received a response from Paramount to his most recent offer. Paramount reported in its third-quarter earnings report that its streaming platform, Paramount+, increased its subscriber count to 63 million. Allen told CNBC he wants to buy Paramount for its linear networks, what he says is the most challenging part of the company.

Persons: Byron Allen, Allen, hasn't, Shari Redstone, David Ellison's, Tegna Allen, of Famer Babe Ruth, Babe Ruth, Ruth, Paramount's, — CNBC's Alex Sherman, Julia Boorstin Organizations: Allen Media Group, Milken Institute Global Conference, Paramount Global, CNBC, Federal Communications Commission, Street, Paramount, CBS, Showtime, Nickelodeon, Media, Paramount Pictures, Warner Bros, Black Entertainment Television, VH1, Bloomberg, Scripps, ABC, Disney, National Football League's, The Weather, of Famer, Netflix, CNBC PRO Locations: Beverly Hills , California, U.S, E.W

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