The biggest risk to the Paramount-WBD deal now is regulatory. David Ellison and his father, Larry, the billionaire Oracle cofounder helping backstop the $110 billion deal, certainly aren't backing out. And neither are WBD shareholders, since they'd lose a lot of value if they didn't take this deal with Netflix out of the picture.
Together, Paramount and WBD will deliver greater choice for consumers through its leading streaming platforms with an exceptional intellectual property portfolio that has produced popular franchises such as Game of Thrones, Mission Impossible, Harry Potter, Top Gun, the DC Universe and SpongeBob SquarePants.
CNN staffers' anxieties stem in part from Paramount's recent stewardship of CBS News, which has faced internal turmoil and declining ratings. Paramount's early moves including installing former opinion journalist Bari Weiss in a top editorial role have sparked complaints from staffers concerned about perceived ideological direction and newsroom interference.
The nearly $111 billion Paramount-Warner marriage would unite their studios and their back catalogue of shows and movies. It would add such franchises as D.C. Comics, Harry Potter and Game of Thrones to Paramount's Top Gun, Mission Impossible and Star Trek powerhouse. Paramount+ and HBO Max. CBS and CNN.
Netflix said Thursday that it won't raise its bid for Warner Bros. Discovery's streaming and studio assets, allowing Paramount Skydance to emerge as the winning bidder of the entire Warner Bros. portfolio, which includes cable networks like CNN, TBS, TNT, HGTV and others.
Teen Vogue covered fashion and celebrity, but also took in-depth looks at politics and social justice issues. Their writers have tackled everything from climate change to political pressures on universities, celebrity style to Billie Eilish's recent comments about billionaires. According to a statement posted on X from Conde United, a bargaining unit of the union the NewsGuild of New York, six of its members who worked for Teen Vogue are being laid off.
Her contract expires next May, and there are rumors that she might shift to another role on the CBS News team amid the Skydance and Paramount merger. However, according to CBS News, there have been no talks with King yet. In a statement shared with Vulture, a CBS News spokesperson shares, "There have been no discussions with Gayle about her contract that runs through May 2026. She's a truly valued part of CBS, and we look forward to engaging with her about the future."
Trouble for your San Francisco 49ers, as Brock Purdy is almost certainly out for this week's matchup against the New Orleans Saints, and could be out for as many as five weeks. Purdy apparently has both a shoulder and a toe injury, and the Niners could be stuck with Mac Jones at quarterback possibly as long as until October 12. [CBS Sports]
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"News partners: We recognize it's been a challenging period and we're deeply grateful for your resilience, professionalism, and unwavering commitment to the news business. We take immense pride in CBS News' legacy of impactful journalism and look forward to continuing to foster a newsroom culture where journalists are empowered, trusted, and equipped to do their best work."
On Thursday evening, the Federal Communications Commission voted to approve Paramount's $8.4 billion merger with fellow entertainment firm Skydance Media, a deal that took considerable lobbying from the Trump administration and connections to Larry Ellison.
