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☆ Stocks making the biggest moves midday: Tesla, Verizon, Paramount, Coinbase and more
▼ + stars: | 2024-04-22 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Tesla , Li Auto — Tesla shares declined nearly 4%, hitting a 52-week low, following announcements of price cuts. Verizon reported $33 billion in revenue, slightly under the $33.32 billion figure penciled in by analysts, per FactSet. Informatica — The enterprise data management company tumbled nearly 9% after acquisition talks with Salesforce broke down. Salesforce shares inched higher by less than 1%. Riot Platforms — The bitcoin miner rallied 14% following the " halving" event , in which bitcoin mining rewards were cut in half.

Persons: Li Auto, Li, CNBC's David Faber, Salesforce, Crypto, Coinbase, MicroStrategy, UnitedHealth's OptumRx, Cardinal Health's, Zions, —, Jesse Pound, Samantha Subin, Michelle Fox, Alexander Harring Organizations: Tesla, Reuters, Li Auto, Verizon Communications, Verizon, Paramount Global, Sony, Informatica, JPMorgan, Health Locations: China

☆ Stocks making the biggest moves premarket: Netflix, Paramount, Sunnova Energy & more
▼ + stars: | 2024-04-19 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Intuitive Surgical — Shares of the robotic surgery firm popped 3% after posting a first quarter earnings and revenue beat. Western Alliance — Shares slipped 2% after the firm missed earnings expectations in its latest quarter. Western Alliance reported earnings of $1.60 per share, while FactSet had estimated this at $1.64 per share. The company slightly missed revenue expectations, however, posting $20.20 billion, while analysts expected $20.41 billion. American Express — Shares slid 1.5% despite the financial services company posting a first-quarter earnings and revenue beat above FactSet estimates.

Persons: Ashley Helgans, Sephora, Shopify, Morgan Stanley, Wells, Biden, SLB, LSEG, FactSet, Proctor, Gamble, — CNBC's Hakyung, Jesse Pound, Samantha Subin Organizations: Jefferies, Netflix, Energy, Western, Western Alliance, Paramount, New York Times, Bloomberg, Sony Pictures Entertainment, Apollo Global Management, Skydance Media, Bentley Systems, Schneider Electric, American, American Express Locations: Canada, Wells, North America, — CNBC's Hakyung Kim, Tanana

☆ Earnings season is here. These are the biggest storylines the market is watching.
▼ + stars: | 2024-04-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

JPMorgan CEO Jamie Dimon issued a warning in the bank's earnings report Friday. With so much at stake, here's an earnings season cheat sheet of when some of the biggest companies are reporting and the storylines to follow. Themes to watch: AI could reduce the number of junior bank employees thanks to the tech automating their grunt work . Themes to watch: Netflix was dubbed the king of streaming earlier this year after a big earnings report. The bank's earnings report beat analysts' expectations, but advisory revenues were down 21% year-over-year.

Persons: —, Donald Trump's, iStock, Rebecca Zisser, Jamie Dimon, Dimon, Michael M, Goldman Sachs, Blackstone, Will Meta, Bob Iger's, Brooks Kraft, Jeremy Barnum, it's, Jeff Currie, Justin Sullivan, Tesla, Elon Musk, Musk, Marco Bottigelli, Yevgen Romanenko, Tyler Le, Michelle Grisé, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, JPMorgan . Tech, JPMorgan, New York Stock Exchange, Finance Key Companies, Bank of America, Companies, Meta, Microsoft, Apple, Nvidia, Amazon, Retail, Walmart, Costco, Netflix, Disney, Paramount Global, Boeing, Brooks Kraft LLC, Getty, BI, Healthcare, RAND, Boston Marathon Locations: Israel, Russia, United States, New York, London, Chicago

☆ The U.S. economy is really becoming the envy of the world, says Centerview Partners’ Blair Effron
▼ + stars: | 2024-04-05 | 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 EmailThe U.S. economy is really becoming the envy of the world, says Centerview Partners’ Blair EffronBlair Effron, Centerview Partners co-founder, joins 'Squawk Box' to discuss the Disney's proxy battle win, Paramount's merger discussions, state of the economy, the Fed's interest rate outlook, and more.

Persons: ’ Blair Effron Blair Effron Organizations: Centerview Partners

☆ Paramount stock slumps on reports that Skydance merger would require company to raise new equity
▼ + stars: | 2024-04-04 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

Paramount Global 's stock slumped 8% on Thursday after CNBC's David Faber reported the company would need to raise as much as $3 billion in new equity if it were to merge with David Ellison's Skydance Media, according to sources familiar with the deal. This deal comes as media mogul Shari Redstone, the controlling shareholder of Paramount, is said to be in exclusive talks with Ellison on selling her stake to him, according to Bloomberg. Faber said Ellison and his partners would likely step up to provide a good amount of that equity, but it would be dilutive. Redstone is looking to sell Paramount, as the company has been in talks with Warner Bros Discovery on its acquisition. The MTV and CBS parent company has a market capitalization of nearly $10 billion and about $13 billion of net debt.

Persons: CNBC's David Faber, David Ellison's Skydance, Shari Redstone, Ellison, Faber Organizations: Paramount, David Ellison's Skydance Media, Bloomberg, Wall Street Journal, Apollo Global Management, Redstone, Warner Bros Discovery, MTV, CBS

☆ Barry Diller on Truth Social: It's a scam
▼ + stars: | 2024-04-04 | 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 EmailBarry Diller on Truth Social: It's a scamBarry Diller, IAC chairman and senior executive & Expedia chairman and senior executive, joins 'Squawk Box' to discuss Disney's proxy fight win over activist investor Nelson Peltz, Paramount's merger discussion with Skydance, whether TikTok poses a national security threat, DOJ's antitrust lawsuit against Apple, Truth Social, AI regulation, the prospect of a 4-day workweek, and more.

Persons: Barry Diller, Nelson Peltz Organizations: Truth, IAC, Apple

☆ Watch CNBC's full interview with IAC chairman and senior executive Barry Diller
▼ + stars: | 2024-04-04 | 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 EmailWatch CNBC's full interview with IAC chairman and senior executive Barry DillerBarry Diller, IAC chairman and senior executive & Expedia chairman and senior executive, joins 'Squawk Box' to discuss Disney's proxy fight win over activist investor Nelson Peltz, Paramount's merger discussion with Skydance, whether TikTok poses a national security threat, DOJ's antitrust lawsuit against Apple, AI regulation, the prospect of a 4-day workweek, and more.

Persons: Barry Diller Barry Diller, Nelson Peltz Organizations: IAC, Apple

☆ Barry Diller: Sensible for companies to move to a '4 days in office, Fridays flexible' standard
▼ + stars: | 2024-04-04 | 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 EmailBarry Diller: Sensible for companies to move to a '4 days in office, Fridays flexible' standardBarry Diller, IAC chairman and senior executive & Expedia chairman and senior executive, joins 'Squawk Box' to discuss Disney's proxy fight win over activist investor Nelson Peltz, Paramount's merger discussion with Skydance, whether TikTok poses a national security threat, DOJ's antitrust lawsuit against Apple, AI regulation, the prospect of a 4-day workweek, and more.

Persons: Barry Diller, Nelson Peltz Organizations: Sensible, IAC, Apple

☆ Why streamers are shrinking their content libraries
▼ + stars: | 2024-04-02 | by ( Sarah Whitten | ) www.cnbc.com time to read: +6 min

Last year many streaming services began shrinking their once-robust content libraries in order to pay smaller licensing fees. In the face of profit pressures and growing competition for viewers, streamers have taken to removing content to avoid the residual payments and licensing fees. On one side is Netflix , Amazon and Apple — companies that agnostically license content from other studios to bolster their streaming libraries. Disney-owned Hulu, meanwhile, has seen success with "feel good" 30-minute sitcoms and prestige dramas, Fandom's data shows. Disclosure: Peacock is the streaming service of NBCUniversal, the parent company of CNBC.

Persons: Stephanie Fried, Fried, Hey Arnold, Bell, Severance, Jacob, Jack Ryan, Bel, Universal's, Max, Peacock Organizations: NBC, Netflix, Apple, Universal, Warner Bros . Discovery, Paramount, Hollywood, Nickelodeon, Warner Bros, Disney, Amazon Prime, Hulu, HBO, CNBC Locations: auctioning, Kingstown, NBCUniversal

Keep reading to learn all of your options for live streaming, as well as a list of upcoming games. March Madness quick links USA: Paramount+, Max, Sling TV, Hulu + Live TVParamount+, Max, Sling TV, Hulu + Live TV Access live TV subscriptions from anywhere via ExpressVPNExpressVPN Upcoming games: Arizona vs. Clemson, Thursday at 7:09 p.m. Hulu + Live TV offers CBS, TNT, TBS, and truTV as a part of its live TV package. Hulu + Live TV Hulu + Live TV includes over 90 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN Plus. Sign up for the relevant live TV streaming services mentioned above with a US form of payment.

Persons: we've, truTV, Max, HBO Max, it's, Hulu's, ExpressVPN, Gonzaga, Creighton Organizations: Business, NCAA, UConn, Purdue, North Carolina, Paramount, Showtime, Max, Hulu, Arizona, Clemson, CBS UConn, San, San Diego State, . Alabama, CBS Iowa State, . Illinois, CBS, TNT, TBS, HBO, Warner Bros, Max Paramount, Paramount Plus, Nickelodeon, Comedy Central, BET, MTV, ., Disney, ESPN, Disney Plus, Iowa, NC, Tennessee Locations: Houston, USA, San Diego, Carolina, ., . Sling, North Carolina, Marquette

☆ Asset management firm explains its exit from Asia real estate equity strategy
▼ + stars: | 2024-03-26 | 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 EmailAsset management firm explains its exit from Asia real estate equity strategyMatthew Michelini, head of Asia-Pacific at Apollo Global Management, discusses its decision and the company's $11 billion offer for Paramount's Hollywood studio.

Persons: Matthew Michelini Organizations: Apollo Global Management, Paramount's Hollywood Locations: Asia

☆ The Trump-supporting governor of Montana is staking his reelection on a set of 'miracle' YIMBY housing policies
▼ + stars: | 2024-03-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

Greg Gianforte blames Paramount's hit 2018 soap opera "Yellowstone" for what he calls his state's most pressing crisis: housing affordability. The so-called Montana Miracle has been celebrated by progressive housing advocates across the country. The policies are supply-side fixes for the crisis — creating more housing to drive down costs — rather than subsidizing renters or lower-income homebuyers. Education Images/Getty ImagesRunning on housingGianforte was "pretty distant" when it came to overseeing the housing task force, Dugan said. Last June, he extended the housing task force through the next legislative session.

Persons: —, Greg Gianforte, Paramount's, Kevin Costner's, Gianforte, It's, it's, Kelly Lynch, who've, Mary Vanier, Kendall Cotton, Nathan Dugan, Daniel Zelnikov, Zelnikov, Lynch, Dugan, trickier, I've, he's, That's, Karlen, George Nikolakakos Organizations: Service, Business, Big Sky, Montana League of, Republican, Democratic, Montana, Frontier Institute, GOP Locations: Montana, Bozeman, and Towns, Montana's, Missoula, California, Whitefish, Washington

☆ 'Dune: Part Two' looks to end box office drought with $80 million opening
▼ + stars: | 2024-02-29 | by ( Sarah Whitten | ) www.cnbc.com time to read: +1 min

Since the start of the year, the domestic box office has tallied just $866.4 million in ticket sales through Sunday, a nearly 18% drop from the same period in 2023, according to data from Comscore. A boost at the beginning of the year could prove critical to a box office that's still struggling to reclaim $10 billion in domestic annual ticket sales, a mark last seen before the Covid pandemic. While surprise hits like Sony's "Anyone But You" alongside Paramount's "Mean Girls" and "Bob Marley: One Love" have helped fill cinemas, the box office had few blockbuster holdovers from the holidays and limited new offerings in the new year. Last year, the first quarter was buoyed by $263 million in ticket sales from Disney's "Avatar: The Way of Water," which hit theaters in December of the previous year. Similarly, 2022 had more than $200 million in residual sales from Sony and Marvel's 2021 hit "Spider-Man: No Way Home."

Persons: Warner, Paul Dergarabedian, Bob Marley, Bill Barstow Organizations: ANGELES, Warner Bros, Sony Locations: Comscore

☆ Stocks making the biggest moves premarket: Snowflake, Salesforce, C3.ai, Okta and more
▼ + stars: | 2024-02-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Snowflake said it expects product revenue to range between $745 million and $750 million in the current period, below the $759 million analysts polled by StreetAccount expected. Okta said its expects revenues to range between $603 million and $605 million, surpassing a FactSet estimate of $583.8 million. Celsius posted 17 cents in earnings per share on $347.4 million in revenue for the fourth quarter. Nutanix posted earnings of 46 cents per share on revenues totaling $565 million. The data storage company posted earnings of 50 cents per share on $790 million in revenue.

Persons: Frank Slootman, Snowflake, StreetAccount, Morgan Stanley, Salesforce — Salesforce, Okta, Duolingo, LSEG, Nutanix, —, Alex Harring, Tanaya Macheel, Michelle Fox, Lisa Han, Jesse Pound, Sarah Min, Pia Singh Organizations: Revenue, Bank of America, AMC, AMC Entertainment, Wall, Paramount, LSEG, CNBC Warner Bros, FactSet, HP — Locations: Canada, FactSet .

☆ Stocks making the biggest moves midday: Chemours, Snowflake, Hormel, C3.ai and more
▼ + stars: | 2024-02-29 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

It posted earnings of 41 cents per share, excluding items, on revenue of $3 billion. Analysts polled by FactSet had called for earnings of 34 cents per share on $2.91 billion in revenue. C3.ai — The artificial intelligence software stock advanced more than 24% after C3.ai posted a narrower-than-expected adjusted loss per share of 13 cents. Pure Storage — Shares jumped more than 22% after the data storage company posted stronger-than-expected fourth-quarter earnings and upbeat first-quarter guidance. However, fourth-quarter revenue of $1.1 billion did top LSEG estimates of $1.05 billion.

Persons: FactSet, Morgan Stanley, Chemours, —, Birkenstock, Snowflake, Frank Slootman, LSEG, Duolingo, Alex Harring, Yun Li, Michelle Fox Theobald Organizations: Beverage, RBC, Bank of America Securities, Bank of America, Paramount, AMC Entertainment

☆ 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

☆ Why Paramount's problems should worry the rest of the media giants
▼ + stars: | 2024-02-16 | by ( Peter Kafka | ) www.businessinsider.com time to read: +2 min

Paramount is in trouble: The one-time media giant's ad sales are plummeting, and so is its stock price. This week, the day after the company broadcast the Super Bowl to a record-setting number of viewers, it announced companywide layoffs. AdvertisementBut why should you, a person who doesn't work at Paramount, care about the future of the company? But even under the best-case scenario, it would be hard for Paramount or any other traditional media company to survive the transition to streaming and digital. Which is why two of the biggest traditional giants — Time Warner and Rupert Murdoch's Fox — took the opportunity to sell most of themselves in 2016 and 2017.

Persons: Lucas Shaw, they're, Shaw, Sumner Redstone, Redstone's, Shari, — Time Warner, Rupert Murdoch's Fox — Organizations: Paramount, Bloomberg Businessweek, Hollywood, Disney, Warner Bros Discovery, — Time Locations: Silicon Valley, China, Hollywood

☆ 'Anyone But You' could spark a rom-com renaissance in Hollywood
▼ + stars: | 2024-02-14 | by ( Sarah Whitten | ) www.cnbc.com time to read: +6 min

A sleeper hit at the box office, the film is a "healthy sign" for the romantic comedy genre and other mid-budget Hollywood flicks, said Scott Meslow, author of "From Hollywood With Love: The Rise and Fall (and Rise Again) of the Romantic Comedy." In the seven weeks since, the romantic comedy has tallied $170 million globally, including $80 million from domestic theaters, according to data from Comscore. Between 2004 and 2010, Hollywood consistently released between 15 and 25 romantic comedy or romance films each year. Meslow said there was no rom-com "kill shot," a film or series of films that sparked the decline in theatrical releases of the genre. While some films will still be released only on streaming platforms, Hollywood has rediscovered the importance of theatrical as part of overall downstream revenue.

Persons: Christopher Nolan's, Scott Meslow, Glen Powell, Sydney Sweeney, Meslow, Will Gluck, Gluck, Natasha Bedingfield's, it's Organizations: DC Studios, Hollywood, CNBC, Netflix, Sony, Comcast Locations: Hollywood, NBCUniversal

☆ Paramount's Super Bowl livestream problems are a warning for Netflix and the new mega sports streamer
▼ + stars: | 2024-02-12 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Paramount, which broadcast and streamed the game to what was probably the biggest audience in the game's history. And Paramount, whose Paramount Plus livestream conked out for some users, who took to the internet to complain. AdvertisementWithout more detail from Paramount, it doesn't make sense to speculate about the cause of Paramount's problems. Like Netflix, which struggled to show a live episode of "Love is Blind" less than a year ago.

Persons: —, Taylor Swift, Robert F, Kennedy Jr, ESPN's, it's, Roger Lynch, Lynch, Condé Nast, Comcast's Peacock Organizations: Service, Kansas City Chiefs, Paramount, San Francisco 49ers, Business, HBO, Big Tech, Netflix, NFL

☆ A guide to all of Taylor Sheridan's latest and upcoming 'Yellowstone' spinoffs, sequels, and other projects
▼ + stars: | 2024-02-11 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +1 min

Taylor Sheridan is currently one of Hollywood's most prolific creators. AdvertisementThere's no doubt that Taylor Sheridan is one of Paramount's star writers. Since pivoting away from acting, Sheridan has become one of the most prolific screenwriters in Hollywood and helped redefine the Western genre with his hit series "Yellowstone." And that number could be set to increase as his slate of "Yellowstone" spinoffs and other shows grows. Here's everything we know about all the Sheridan-helmed projects currently in development.

Persons: Taylor Sheridan, —, Sheridan Organizations: Service, Paramount, Street Journal Locations: Hollywood

☆ The 6 biggest questions about ESPN, Fox, and WBD's new sports streamer
▼ + stars: | 2024-02-07 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +4 min

ESPN parent Disney and Fox report earnings on Wednesday, and more answers could be on the way. Here are six of the biggest questions coming out of the new announcement:How much will it cost? This new streamer could be the thing that finally kills cable TV. If they believe it has promise, could it give ESPN, Fox, and WBD more bargaining power in sports-right negotiations and greater ability to shoulder the sky-high costs? Will this new streamer come to the negotiating table for more sports rights to pad out its offering?

Persons: Bernstein, Paul Verna, Brian Weiser, there's, Disney's Bob Iger, Fox's Lachlan Murdoch, WBD's David Zaslav Organizations: ESPN, Disney, Fox, CNBC, YouTube, NBC, English Premier League —, Insider Intelligence, Business, Hulu, Netflix, JV, Amazon Locations: Madison, Disney's

☆ ESPN, Fox, and Warner Bros are launching a new sports streaming service. It could change TV forever.
▼ + stars: | 2024-02-06 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Now combine them on one streaming service. That's what's coming this fall, via a new joint venture, co-owned by Disney, Warner Bros. AdvertisementPeople who are already watching sports on Disney-owned ESPN and the other channels that are joining the joint venture won't lose access to those games, which will stay on the linear channels. Icon Sportswire/Getty ImagesIt's worth noting that all three TV giants have tried a version of a streaming joint venture before. The company that was formerly known as Time Warner, which is now part of Warner Bros.

Persons: —, That's, Disney's, Fox, Time Warner Organizations: Service, ESPN, ABC, Fox, TNT, TBS, Disney, Warner Bros, Fox Corp, Business, NFL, —, CBS, NBC, Discovery, Hulu, Time

“Argylle,” the $200-million star-studded spy thriller from Apple Studios, debuted with $18 million in ticket sales, according to studio estimates Sunday. The first two — Martin Scorsese's “Killers of the Flower Moon” and Ridley Scott's “Napoleon” — could be called successful. Paramount handled “Killers of the Flower Moon,” while Sony steered “Napoleon.”“Argylle," with “Kingsman” director Vaughn at the helm, was made with aspirations of starting a new franchise. On another quiet weekend in cinemas, the rest of ticket sales went mainly to holdovers and awards contenders. Estimated ticket sales for Friday through Sunday at U.S. and Canadian theaters, according to Comscore.

Persons: Apple, “, Matthew Vaughn, Oscar, Martin Scorsese's, Ridley Scott's “ Napoleon ” —, “ Napoleon, ”, Bryce Dallas Howard, Sam Rockwell, Henry Cavill, ” “, Kingsman, Vaughn, Taylor Swift, Swift, Jesus, Wonka, Jefferson's, Jeffrey Wright, Yorgos, Emma Stone, Comscore, “ Wonka, Jake Coyle Organizations: Apple Studios, Apple, Universal Pictures, Paramount, Sony, “, Angel Studios, Warner Bros, MGM

☆ 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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