Paramount Global Predicts Streaming Loss Of $1.8 Billion In 2022, Defends Content Spending

Jennifer Maas TV Business WriterNexstar Media Group revealed Monday it is set acquire a 75% majority stake in the CW Network from Paramount Global and Warner Bros. Discovery, more than six months after first beginning negotiations for the deal.Warner Bros.

Wiz Khalifa and Logic are currently on the road for their co-headlining Vinyl Verse Tour 2022 and you can check out the set list right here!

Zsuzsi Bánkuti Appointed Head Of Locarno’s Open Doors

Latest DealsA score or more of new deals announced since Sunday in exclusivity to Variety:*Germany’s Pluto Film has been in negotiations with several theatrical distributors on Locarno Piazza Grande title “Semret,” ahead of its world premiere on Aug. 10.

Imagine Dragons just launched their North American stadium tour and they’ll be on the road for the rest of the summer!

Brian Steinberg Senior TV EditorEven Tom Cruise can’t fly past the costs of making great content.Despite seeing strong revenue gains from its streaming operations and from the success of the sequel to Cruise’s “Top Gun” in theaters, Paramount Global saw profit drop in its second fiscal quarter as it increased investment in new content while seeing decreases in advertising and affiliate fees at its main TV businesses.The owner of the CBS broadcast network, the Nickelodeon cable channel and the Paramount movie studio said operating income fell by 33% in the period, down to $819 million, compared with more than $1.2 billion in the year-earlier period. Revenue during the quarter increased 19% to nearly $7.8 billion, compared with nearly $6.6 billion a year earlier.

Paramount Global said Top Gun: Maverick powered a 126% surge in filmed entertainment revenue last quarter, surpassing Titanic to become the studio’s biggest domestic release of all time.

Cindy Crawford and Rande Gerber appear to be going strong.

A dog walker was left awestruck after capturing her very own Mission Impossible film - when her childhood hero Tom Cruise paraglided over her head then landed next to her in the Lake District.

There’s nothing quite like visiting a garden during the summer and wandering among colourful blooms and lush greenery on a sunny day. A well-designed garden can capture your imagination and transport you to a different place.

John Hopewell Chief International CorrespondentCannes Cinéfondation winner Michael Labarca will hit Locarno’s Open Doors next week with his feature debut project, “Kids Swimming in the Lake,” produced by Venezuela’s Todos Los Ríos, France’s Ticket Shoot Films and Chile’s Oro Films.For Venezuelan movie projects, such international co-productions are not only a virtue but a necessity, “due to the crisis of our public funding for production, our limitation of access to the Ibermedia fund and the complex situation of our country,” said “Kids” producer Patricia Ramírez Arévalo at Todos los Rios.Set in contemporary Venezuela, “Kids Swimming in the Lake” deals with emigration, but from the point of view of those left behind. During constant blackouts, 11-year-old Dayana and her little siblings dream of leaving Venezuela and reuniting with their father, who migrated fleeing the crisis.

Mike Fazioli If you purchase an independently reviewed product or service through a link on our website, Variety may receive an affiliate commission. There is one constant truth when it comes to gaming: Today’s ultra-new, ultra-powerful, ultra-expensive technology will end up in tomorrow’s bargain bin.And that’s where we’re looking today in our quest for the best budget gaming laptops: one generation behind.

Paramount Global has unveiled Pamela Kaufman as replacement for Raffaelle Annecchino overseeing international.

Paramount Global/Comcast JV SkyShowtime has snapped up an HBO Max and Walt Disney exec to lead on strategy and legal.

George Clooney was joined by an NBA legend on a recent day on the water. Pics show that the 61-year-old actor spent July 22 on a boat in Lake Como, Italy, with Michael Jordan and his wife, Yvette Prieto.The trio, who had others with them for their day at sea, was all smiles as they lounged on the water.

Stevie Nicks is hitting the road once again for her fall 2022 tour.The "Edge of Seventeen" singer has a busy couple of months ahead after she announced on Monday via Instagram that she was going on a fall tour with special guest Vanessa Carlton.  "Here we go! I’m so excited to be back on the road and can’t wait to see everyone," Nicks wrote on her Instagram post.  The tour kicks off on September 13 in Clarkston, Michigan and wraps up on October 28 in West Palm Beach, Florida. Some of Nick’s other stops include Los Angeles, California, Phoenix, Arizona and Nashville, Tennessee.