A version of this article first appeared in the CNBC Sport newsletter with Alex Sherman, which brings you the biggest news and exclusive interviews from the worlds of sports business and media. Sign up to receive future editions, straight to your inbox. The big sports business news this week was Paramount’s surprising $1.1 billion-per-year acquisition of UFC rights, starting in …
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“We’re in the business of long-term value creation,” David Ellison proclaimed Wednesday as the stock of his newly minted Paramount, A Skydance Corporation leaped double digits in the first week of his reign. As the majority shareholder in the new Paramount, with strong support from RedBird, Ellison went on to take the win, but also cautioned his plan was not …
Read More »Donald Trump says the new owners of Paramount have promised him that they’ll give him $20 million in free ads. Is that true? Up until now, reporters haven’t been able to directly ask the new owner of Paramount. But when they got the chance on Thursday, at a press conference at Paramount’s Manhattan headquarters, David Ellison wouldn’t confirm or deny …
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Thirteen months after David Ellison and Shari Redstone hashed out an $8 billion megadeal that would shift ownership of Paramount Global from the heir of a media mogul to the heir of a tech mogul, that merger finally closed on Thursday. As the Skydance team, led by Ellison as CEO and former NBCUniversal exec Jeff Shell as president, settles in, …
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Skydance Media on Wednesday confirmed its senior leadership team ahead of its pending merger with Paramount Global. The company has unveiled 10 executives who will form the top table under the executive leadership team that was revealed Monday, led by David Ellison, who will become CEO and chairman of Paramount once the deal closes Thursday. The executives are Don Granger, …
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This isn’t a joke. They’ve made that clear. CBS “Late Show” host Stephen Colbert condemned parent company Paramount Global’s settlement of President Donald Trump’s lawsuit over a “60 Minutes” story as a “big fat bribe” during his first show back from a vacation. Colbert followed “The Daily Show” host Jon Stewart’s attack of the deal one week earlier. Stewart works for Comedy …
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