DIRS.INFO The most relevant business & tech news

☆ Paramount Turned Down $3 Billion-Plus Offer for Showtime From Former Executive
▼ + stars: | 2023-02-28 | by ( Jessica Toonkel | ) www.wsj.com time to read: 1 min

Former Paramount Global executive David Nevins offered to buy Showtime for more than $3 billion in recent weeks but was turned down by Paramount executives, according to people familiar with the situation. Mr. Nevins’s approach, which was backed by private-equity firm General Atlantic, was the latest in a number of offers Paramount has received over the past few years for Showtime, people familiar with the matter said. Other suitors included Mark Greenberg, another former Showtime executive who most recently ran the premium network Epix, and Lions Gate Entertainment Corp., some of the people said.

☆ ‘South Park’ lawsuit: Warner Bros. Discovery sues Paramount for $500 million
▼ + stars: | 2023-02-26 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

Discovery filed a lawsuit against Paramount Friday, claiming the rival media company breached its half-billion-dollar exclusivity contract with HBO Max by airing “South Park” on its own streaming platform, Paramount+. Nearly all “South Park” episodes air first on Paramount-owned Comedy Central. Then came the pandemic, and WarnerMedia was told that the new production of “South Park” would be halted, according to the complaint. In March 2021, Paramount launched Paramount+, and Warner Bros. Warner Bros.

Warren Buffett released his latest annual shareholder letter for Berkshire Hathaway on Saturday. "And I doubt very much that any reader of this letter will have a different experience in the future." And I doubt very much that any reader of this letter will have a different experience in the future." Buffett defends stock buybacks "Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. • Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: "Warren, think more about it.

☆ Warren Buffett’s equity portfolio is focused on just 5 stocks. Here’s what they are
▼ + stars: | 2023-02-25 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Warren Buffett's Berkshire Hathaway revealed that 75% of its equity portfolio was concentrated in just five names. The "Oracle of Omaha" kept his top five holdings unchanged last quarter as the stock market experienced heightened volatility amid rising rates and recession fears. At the end of 2022, Apple remained Berkshire's largest holding by far, with a value of $119 billion. Chevron was the conglomerate's third-biggest holding with a $30 billion value. In August, Berkshire received regulatory approval to purchase up to 50%, spurring speculation that it may eventually buy all of Houston-based Occidental.

☆ ‘South Park’ on Paramount+ Prompts Warner Bros. Discovery Lawsuit
▼ + stars: | 2023-02-24 | by ( Joseph Pisani | ) www.wsj.com time to read: 1 min

Warner Bros. Discovery said it paid more than $500 million to exclusively stream ‘South Park’ episodes on its HBO Max platform until 2025. Warner Bros. In the lawsuit, filed Friday in New York State Supreme Court, Warner Bros. Discovery said it paid more than $500 million in 2019 to exclusively stream new and existing “South Park” episodes on its HBO Max platform until 2025.

Feb 24 (Reuters) - Warner Bros Discovery's (WBD.O) shares fell on Friday as Wall Street sees more pain for the media giant that posted more than $2 billion in fourth-quarter losses and cut annual profit forecast as ad market weakness persists. The uncertainty of an ad market recovery in the current market condition, with a potential recession looming, is hounding large media and tech firms such as Paramount Global (PARA.O) and Google-parent Alphabet Inc (GOOGL.O) alike. "The biggest unknown continues to be in the ad sales environment," Gunnar Wiedenfels, chief financial officer of Warner Bros Discovery said. This implies a range of $11 billion to $11.5 billion, below its previous target of $12 billion. The company reported a wider-than-expected loss of 86 cents per share in the quarter due to restructuring charges related to its merger joining Discovery Inc and AT&T (T.N) spin-off Warner Media.

REUTERS/Mario AnzuoniNEW YORK, Feb 24 (Reuters) - The rights to stream "South Park," the popular animated comedy featuring foul-mouthed children, is the subject of a new lawsuit where Warner Bros Discovery Inc is seeking hundreds of millions of dollars in damages from Paramount Global (PARA.O). The complaint said the defendants cemented their apostasy in August 2021 when Paramount's MTV unit announced an agreement to stream new "South Park" content on Paramount+, through season 30 in 2027. Warner said it now expects to receive only 14 of the 30 new "South Park" episodes it had been promised, including two "Pandemic Specials" that Paramount claims constitute season 24. The defendants also include MTV and South Park Digital Studios, a joint venture between Paramount, Parker and Stone. "South Park" was launched in August 1997 on Comedy Central, owned by Paramount.

☆ Warner Bros. Discovery sues Paramount over 'South Park' streaming rights
▼ + stars: | 2023-02-24 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Warner Bros. Discovery sued Paramount Global looking to enforce the streaming rights of "South Park," setting the stage for a legal battle between two media behemoths as the streaming wars intensify. Discovery filed a lawsuit against Paramount, South Park Digital Studios and MTV Entertainment seeking hundreds of millions of dollars for what it believes was a breach of contract. During the bidding process for the "South Park" rights, the filing said, Paramount allegedly asked whether Warner Bros. Discovery plans to launch a combined HBO Max and Discovery+ streaming service this spring.

☆ Lightning Round: If Paramount Global comes down, buy, buy, buy
▼ + stars: | 2023-02-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: If Paramount Global comes down, buy, buy, buyMad Money host Jim Cramer takes calls on all manner of stocks, including CoreCivic, Paramount Global and Booking.com.

☆ Warner Bros Discovery posts quarterly loss after restructuring charges
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

Feb 23 (Reuters) - Warner Bros Discovery (WBD.O) Inc on Thursday posted a $2.1 billion loss in its fourth quarter, reflecting ongoing charges related to the restructuring of the merged media companies. Warner Bros Discovery reported a loss of 86 cents per share, versus expectations of a 21-cent-per-share loss. Warner Bros Discovery said the months-long merger-related restructuring, which resulted in thousands of layoffs and canceled film and television projects, is complete. Warner Bros Discovery also said it has paid down $7 billion in debt since April. Like other media companies, Warner Bros Discovery has yet to turn a profit on its HBO Max and Discovery+ streaming services, though the company has reduced losses from them.

☆ Warner Bros Discovery revenue misses as media giant posts big loss
▼ + stars: | 2023-02-23 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Pedestrians walk past a street commercial advertisement billboard from Warner Bros and DC comics character, The Batman, movie in Madrid. Warner Bros. Warner Bros. Warner Bros. Warner Bros.

☆ NPR to cut 10% of its staff in ‘a major loss’ for the public radio network, CEO says
▼ + stars: | 2023-02-22 | by ( Jon Passantino | ) edition.cnn.com time to read: +2 min

CNN —National Public Radio will lay off 10% of its staff after projecting a $30 million budget shortfall, NPR’s chief executive John Lansing wrote in a memo to staff Wednesday. In his memo, Lansing said the network was grappling with a “sharp decline” in revenues from its corporate sponsors as a result of the uncertain economy. “With approximately 65% of our budget supporting personnel costs, we will need to eliminate many of the vacant positions that have been frozen. In recent months, the media and technology sectors have taken a battering as advertisers tighten spending amid economic uncertainty. CNN, NBC News, MSNBC, Vox Media, Gannett and other news organizations have cut their workforces in recent months.

☆ Paramount Isn’t Buffeted by Streaming Winds
▼ + stars: | 2023-02-17 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

The series ‘1923’ with Harrison Ford had its premiere on Paramount+ near the end of the recent quarter. Warren Buffett may or may not be a “Yellowstone” fan, but he sure seems to like a good drama. Paramount Global was one of the few stocks Mr. Buffett’s Berkshire Hathaway bought more of during the fourth quarter, according to a filing earlier this week. And that was during a period when the famed long-term investor made some uncharacteristic quick exits. Berkshire sold off 86% of its position in Taiwan Semiconductor Manufacturing just one quarter after first buying into the chip-making titan.

☆ This week's best performers include Paramount Global and a little-known pharma stock
▼ + stars: | 2023-02-17 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The average price target on West Pharmaceuticals implies downside of 7.2% over the next 12 months, and only one-third of analysts rate the stock as buy. Paramount Global also popped this week, gaining around 9% after the media giant said it would increase subscription prices for its Paramount+ streaming service . Just 21% rate it as buy, and the average price target implies downside of 13%. Three-quarters of analysts covering the pet medication maker rate it as buy, with the average analyst price target implying upside of 25.3%. Canaccord Genuity upgraded the stock on the back of those results, noting it has 30% upside from here.

☆ Paramount to Raise Paramount+ Prices as It Combines With Showtime
▼ + stars: | 2023-02-16 | by ( Will Feuer | Jessica Toonkel | ) www.wsj.com time to read: 1 min

Paramount Global said it would raise the price of its Paramount+ streaming service later this year, as mounting losses from its streaming business ate into the entertainment company’s quarterly profits. Paramount+ gained 9.9 million subscribers in the fourth quarter, boosting its customer base to nearly 56 million, the company said Thursday. Paramount credited the National Football League, the expansion of franchises like “Top Gun: Maverick” and “1923,” a spinoff of “Yellowstone,” and new shows like “Tulsa King” for driving subscriber growth.

☆ Paramount’s Earnings Fall on Higher Streaming, Film Expenses
▼ + stars: | 2023-02-16 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Paramount Global posted lower earnings for the fourth quarter as losses mounted at its streaming business and higher film costs ate into profit. The New York-based media company said Thursday that higher revenue from its direct-to-consumer and film segments offset declines in its core television business. Higher costs, though, weighed on profit, and results missed Wall Street expectations.

☆ Paramount takes a knock from ad slump as streaming shines
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

Shares in the media company fell about 8% before the bell. TV advertising revenue fell 7% in the three months to December, despite a lift from political advertising on the back of U.S. mid-term elections in November. The company last month said it would integrate Showtime, known for popular shows, including "Billions," "Yellowjackets" and "Dexter", with Paramount+ across platforms later this year as it prioritizes streaming services. Operating losses in the company's direct-to-consumer unit, which houses its streaming services like Paramount+ and PlutoTV, rose to $575 million from $502 million. Investors have focused on the service as the company has outlined plans to spend aggressively on content to fend off competition.

☆ Stocks making the biggest premarket moves: Shake Shack, Virgin Galactic, Paramount and more
▼ + stars: | 2023-02-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Analysts surveyed by Refinitiv were expecting earnings of 23 cents per share on $8.16 billion of revenue. Excluding items, it earned 88 cents per share, slightly above the Refinitiv estimate of 86 cents per share. Cisco also beat revenue expectations. Twilio — The communications tools maker rose nearly 9% after reporting revenue of $1.02 billion, above the $1 billion analyst polled by Refinitiv expected. West Pharmaceutical Services — The drug and health-care products manufacturer gained 5.3% after reporting a fourth-quarter earnings and revenue beat.

☆ Stocks slide as investors worry about more rate hikes
▼ + stars: | 2023-02-16 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +2 min

Stocks tumbled Thursday morning after the US government’s Producer Price Index report showed that prices at the wholesale level rose faster than expected in January. The unwelcome inflation news comes just two days after the Consumer Price Index figures showed that retail prices continue to come in above forecasts. Investors also were unnerved by comments from Cleveland Federal Reserve president Loretta Mester about inflation and the economy. St. Louis Fed president James Bullard, another regional bank president who does not have a vote on the FOMC this year, is giving a speech this afternoon. Streaming media device maker Roku (ROKU) also soared following strong earnings.

☆ Top 10 things the Club is watching in the stock market Thursday: PPI hot, stocks drop, Cisco pops
▼ + stars: | 2023-02-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The PPI data comes two days after a slightly hotter-than-expected consumer price index for last month. Cloud communications platform Twilio (TWLO) finally makes the pivot to emphasize profitability and the stock gets rewarded ... up 9% early Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Paramount+ plans price increases as it hits 56 million subscribers
▼ + stars: | 2023-02-16 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

The Paramount+ streaming service is now available in Germany. Paramount Global said it saw its streaming business grow during the fourth quarter, and announced plans to increase prices for Paramount+ this year. Paramount+ added 9.9 million subscribers during the fourth quarter. In total, Paramount+ reached nearly 56 million customers during the fourth quarter. Overall, Paramount fourth quarter revenue declined 7% compared with last year, to roughly $5.9 billion, due to the drop in advertising.

☆ Berkshire Hathaway Boosts Stake in Apple, Paramount Global in Relatively Quiet Quarter
▼ + stars: | 2023-02-15 | by ( Akane Otani | ) www.wsj.com time to read: 1 min

Photo: Elizabeth Bick for The Wall Street JournalBank of America is one of Berkshire Hathaway’s biggest holdings. Warren Buffett ‘s Berkshire Hathaway sold more shares than it bought in the final quarter of 2022, a regulatory filing Tuesday showed. The Omaha, Neb.-based company added to its positions in Apple Inc., Louisiana-Pacific Corp. and Paramount Global in the final three months of the year while trimming its positions in eight companies, including U.S. Bancorp and Taiwan Semiconductor Manufacturing Co.

☆ Stock futures are flat Wednesday night as traders digest earnings, latest data: Live updates
▼ + stars: | 2023-02-15 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. stock futures were flat on Wednesday night after strong retail sales data suggested a resilient U.S. economy. Dow Jones Industrial Average futures fell by 15 points, or 0.04%. S&P 500 futures climbed 0.02%, while Nasdaq 100 futures rose 0.14%. Stocks closed slightly higher during the regular session Wednesday, despite falling earlier in the day after a stronger-than-expected January retail sales report suggested the Federal Reserve may have further to go in its efforts to tame inflation. On the earnings front, Hasbro and Paramount Global are expected to report Thursday before the bell.

☆ Stocks making the biggest moves premarket: Kraft Heinz, Paramount, Airbnb, Tripadvisor and more
▼ + stars: | 2023-02-15 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Airbnb — The home-sharing company gained nearly 10% in the premarket after posting fourth-quarter earnings that beat analysts' expectations. Airbnb reported earnings per share of 48 cents, compared to the 25 cents expected, per Refinitiv. Generac — Shares added more than 2% after the power generator maker reported fourth-quarter earnings results. Generac posted earnings of $1.78 per share, better than the $1.75 per share expected by analysts polled by FactSet. Analog Devices — Shares were up 6.7% in premarket trading after the company reported better-than-expected earnings for the fiscal first quarter.

☆ Top 10 things the Club is watching in the stock market Wednesday: Retail sales up, stocks dip, Airbnb soars
▼ + stars: | 2023-02-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Retail sales for January came in higher than expected. Remember, retail sales are not adjusted for inflation, which of course remains elevated but growing at a slower rate in recent months. Earnings per share (EPS) of 48 cents versus 25 cents expected. Kraft Heinz (KHC) EPS beats: 85 cents versus 78 cents expected. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Search resuls for: "Paramount Global"

25 mentions found