Sony In Talks To Team With Apollo In Bid For Paramount Global

Confusion and anxiety reigned at a CBS-Politico joint party today ahead of the annual White House Correspondents’ Dinner, with staffers shocked at news that Bob Bakish, CEO of parent Paramount Global, is set to exit abruptly as early as Monday morning.

Paramount Global is set to announce as early as Monday morning that Bob Bakish is stepping down as CEO amid talks with Skydance and ahead of the company’s quarterly earnings that afternoon.

Steven Spielberg has made no secret of his support for Joe Biden’s reelection, and now the Oscar winner is rolling up his shirt sleeves for the team.

EXCLUSIVE: New York Times best-selling author Neil Gaiman is teaming with Graphic India for the English-language animated movie, Cinnamon.

Skydance and Paramount are deep into hashing out a complicated deal that would see the David Ellison’s studio and its backers take control of the storied film and television company owned by Shari Redstone. The exclusive month-long negotiating period through May 3 is likely to be extended perhaps by a few weeks, Deadline hears, given the complexity of the transaction.

Leanne Morgan‘s current tour is called Just Getting Started, and the 58-year-old comedian is living up to that with a comedy series and two more specials at Netflix. The streamer has given a 16-episode order to an untitled multi-cam series, headlined by Morgan in her TV acting debut and executive produced by top comedy showrunner Chuck Lorre (The Kominsky Method, Bookie). Additionally, Netflix has picked up two more stand-up specials from Morgan following the success of her 2023 debut, Leanne Morgan: I’m Every Woman.

Mel B got candid about her five-year relationship with a woman!

EXCLUSIVE: Wattpad/Webtoons has hired Josh Campbell & Matt Stuecken (10 Cloverfield Lane, Horizon Line) to adapt I’m The Grim Reaper from the Webtoon created by Grave Weaver. 

Rebecca Rubin Senior Film and Media Reporter AMC Theatres, the world’s largest cinema chain, is leaning into distribution. The company is expanding its distribution team with a key hire and promotion, underscoring its committment to releasing its own movies in addition to showcasing titles from traditional and independent studios. AMC Theatres launched its distribution team with the premieres of last year’s concert films, “Taylor Swift: The Eras Tour” and “Renaissance: A Film by Beyoncé.” Stephanie Terifay has joined AMC in the newly created position of VP of Distribution.

EXCLUSIVE: Post Malone and A Quiet Place Platinum Dune producers Michael Bay and Brad Fuller’s are partnering with Vault Comics to create an all-new IP universe based on an original story by the 8x diamond recording artist.

Celine Dion is opening up about that viral moment on stage with Taylor Swift at the 2024 Grammy Awards.

EXCLUSIVE: The ancient Scottish town of St Andrews was hit with a heavy bout of  Spidey fever this past weekend as the third annual Sands International Film Festival opened, pulling in an eclectic set of films, filmmakers, and speakers alongside one popular guest of honor. 

Paramount Global shares jumped 13% Friday as investors cheered news that Sony Pictures Entertainment is talking with Apollo Global Management about joining Apollo’s bid for Paramount.

Cynthia Littleton Business Editor Sony Pictures Entertainment and Apollo Global Management are considering a possible joint bid for Paramount Global. News of the discussions was first reported by the New York Times. Sources close to the situation confirmed the conversations but cautioned that there are numerous obstacles that would need to be overcome before the sides could formally submit an offer.

After nearly 40 years in Park City, the Sundance Film Festival may be pulling up stakes.

EXCLUSIVE: Hulu has picked up The Killing Kind, the thriller series adapted from the Jane Casey bestseller.

On the heels of its premiere to critical acclaim at this year’s Sundance Film Festival, the documentary Kneecap on the Irish rap trio of the same name has been slated for release by Sony Pictures Classics in theaters nationwide on August 2, when it will open against Columbia Pictures’ family film Harold and the Purple Crayon.

Todd Spangler NY Digital Editor Four members of Paramount Global‘s current 11 board of directors will step down, the company disclosed, coming as the company has stepped up talks with Skydance Media about an M&A deal. The four directors — Dawn Ostroff, former chief content and advertising business officer of Spotify; Nicole Seligman, former president of Sony Entertainment; Frederick Terrell, vice chairman of investment banking at Wells Fargo; and Rob Klieger, partner at Hueston Hennigan LLP, who had served as legal counsel to Sumner Redstone — will not stand for reelection at Paramount Global’s annual meeting, set for June 4.

Mel Gibson is crediting friend Robert Downey Jr. for being “generous and kind” after he was shunned from Hollywood.

Paramount Global‘s beleaguered stock faltered Monday as investors fretted over the ongoing talks between controlling shareholder National Amusements Inc. and Skydance Media.