David Zaslav Sidesteps Paramount Global M&A Question, Talks NBA Rights Deal and High CEO Paychecks at Milken Conference

Todd Spangler NY Digital Editor Julia Phelps, Paramount Global‘s executive VP and chief communications and corporate marketing officer, is exiting after almost 20 years with the company and predecessor Viacom. Phelps had long worked with Bob Bakish, who was ousted as CEO of the company last month and replaced by a three-exec committee. Phelps, in a memo to her team Friday, said she will leave Paramount at the end of May.

Former CBS Media Ventures licensing and distribution executive Jonathan Bingaman has been named President, Domestic Multi-Platform Licensing & Distribution for Paramount Global Content Distribution. He will report to Dan Cohen, Chief Content Licensing Officer, Paramount Global and President, Republic Pictures, who announced the appointment in a note to staff.

Annika Pham The Swiss/French “Dog on Trial” is set to disrupt, move and entertain the Croisette from what is revealed in a first clip from sales outfit MK2 Films, exclusively shared with Variety. The film world premieres at Cannes Un Certain Regard May 19. Writer/actor-turned-director Laetitia Dosch, who delivered what Variety reviewer Peter Debruge called a ‘blazing-wildfire performance’ in the 2017 Camera d’or winner “Jeune Femme”, is herself taking a chance this year on the coveted award. Meanwhile Cosmos the Dog (aka Kodi in the film) will battle for the leather dog collar Palme Dog win.

EXCLUSIVE: Colombian actress Diana Hoyos (Sniper: Ultimate Kill, Oye Bonita, Nurses) has joined the cast of the action pic Diablo, which Grindstone Entertainment Group has acquired for North America. 

Nobody does it better than Perez!

Jennifer Maas TV Business Writer Warner Bros. Discovery kept up with TV upfronts week’s biggest trend at their presentation out of The Theater at Madison Square Garden Tuesday: Promoting not just its TV slate as a prime ad-buying opportunity — but also its film franchises. First up from CEO David Zaslav’s team, WB Discovery revenue and strategy chief Bruce Campbell addressed the Madison Avenue crowd following a sizzle featuring top WBD IP and brands across film and TV series.

The finale of the new NBC series Deal or No Deal Island aired this week and the winner was revealed. There was even a twist at the end!

Ahead of its season one finale, NBC is banking on another season of Deal or No Deal Island.

Warner Bros. Discovery chief David Zaslav largely evaded questions about NBA talks and Paramount Global‘s potential as a WBD merger partner, but he did weigh in on the hot topic of executive pay.

Cynthia Littleton Business Editor Paramount Global goes back to playing the field this week with two suitors still pursuing the company that has been surrounded by a highly public M&A drama for months. And it’s unlikely to end any time soon. The company reached the end of its 30-day exclusive negotiating window with Skydance Media on May 3 without coming to an agreement.

Warren Buffett says he has sold all of his shares in Paramount Global at a significant loss.

Keeping up with the subset cult around whispering David Lynch rumors can be a little taxing and trying, but as we know, the filmmaker hasn’t released anything since the transformative “Twin Peaks: The Return” series in 2017. But as it turns out, there appear to be some truths to some of the rumors and speculation circulated over the last five years.

Todd Spangler NY Digital Editor UPADTED: After months of M&A talks, Paramount Global and controlling shareholder Shari Redstone might be going it alone after all — for now. Insiders tell Variety that the expectation at the company is that neither of the two offers in play — Skydance Media-RedBird Capital Partners and Sony Pictures Entertainment-Apollo Global Management — will come to fruition. And Redstone is said to have reluctantly concluded that a deal with David Ellison’s Skydance, a longtime partner of Paramount Pictures, will not be possible.

Three days after he was named to the newly formed Office of the CEO of Paramount Global, George Cheeks, President and CEO of CBS, faced reporters at the unveiling of the broadcast network’s fall 2024 schedule.

Partners Sony and Apollo have formally reached out to Paramount‘s special board committee asking to discuss a potential $26 billion offer, Deadline has learned. It comes as Par’s exclusive negotiating window with David Ellison‘s Skydance is set to expire.

Todd Spangler NY Digital Editor In the latest twist in Paramount Global‘s M&A saga, Sony Pictures Entertainment and Apollo Global Management reportedly have made a bid to take Paramount private with an all-cash buyout offer of $26 billion. Sony and private-equity giant Apollo submitted an offer letter Wednesday to Paramount Global, the Wall Street Journal reported Thursday. The report comes as Paramount Global board’s special committee established to consider M&A proposals is evaluating the best and final offer from Skydance Media to merge Paramount and Skydance, while keeping Paramount Global public.

Paramount Global, which is in the midst of corporate upheaval on a number of fronts, got a slight reprieve in one key area, extending carriage negotiations with Charter Communications.

Todd Spangler NY Digital Editor Amid Paramount Global’s removal of Bob Bakish as CEO and the ongoing uncertainty of a company sale, it was business as usual for the first quarter at the media conglomerate — which included a $1.3 billion charge for content write-offs as well as layoffs. Paramount Global reported Q1 2024 earnings Monday, announcing Bakish’s exit and the installation of an unusual three-in-a-box “Office of the CEO”: CBS’s George Cheeks, Chris McCarthy, Showtime/MTV Entertainment Studios and Paramount Media Networks, and Paramount Pictures’ Brian Robbins.

The NBA‘s new round of rights negotiations has reportedly lured NBCUniversal back to the league after an absence of more than two decades.

Todd Spangler NY Digital Editor The three Paramount Global executives installed to run the company after Bob Bakish was removed as CEO sought to reassure employees that they have a long-term strategy. On Monday, Paramount Global said Bakish was stepping down as CEO and leaving the board. In his place, the company established an “Office of the CEO” committee led by three divisional heads: George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon.