Paramount And Skydance Media Agree To Terms Of A Merger, Awaiting Approval

Paramount and Skydance have agreed to terms of a merger. A deal could be announced in the coming days, he said.

A Paramount special committee and the buying consortium — David Ellison's Skydance, backed by private equity firms RedBird Capital and KKR — agreed to the terms. The deal is awaiting signoff from Paramount's controlling shareholder, Shari Redstone, who owns National Amusements, which owns 77% of class A Paramount shares, Faber said Monday.

The agreement terms come after weeks of discussion and a recent competing offer from Apollo Global Management and Sony Pictures.

"We received the financial terms of the proposed Paramount/Skydance transaction over the weekend and we are reviewing them," said a National Amusements spokesperson.

The deal currently calls for Redstone to receive $2 billion for National Amusements, Faber reported Monday. Skydance would buy out nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.

Skydance and RedBird would also contribute $1.5 billion in cash to Paramount's balance sheet to help reduce debt.

Following the deal's close, Skydance and RedBird would own two-thirds of Paramount, and the class B shareholders would own the remaining third of the company, Faber reported. The negotiated terms were reported earlier by The Wall Street Journal.

The deal will not require a vote from the shareholders, which was part of the negotiations, Faber reported. Paramount's annual shareholder meeting will take place on Tuesday.

The deal is valued at $8 billion, an increase from the $5 billion offer on the table earlier. Under those earlier terms, Redstone would have received less than $2 billion for her stake, and the class B shareholders would have been bought out at a nearly 30% premium at $11 a share.

In early May, Apollo and Sony formally expressed interest in acquiring Paramount for about $26 billion. However, Redstone has favored a deal that would keep Paramount together, and Apollo and Sony planned to break up the company.

In addition to the twists and turns of the negotiations with buyers, Paramount's C-suite has also undergone a shakeup in recent months.

Bob Bakish stepped down as CEO in late April and was replaced by what the company calls the "Office of the CEO." Paramount is now led by three executives: George Cheeks, CBS president and CEO; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, the head of Paramount Pictures and Nickelodeon.

Hi Hi Puffy Amiyumi | Pilot | Cartoon Network

After Sam Register (the creator) pitched the idea of Hi Hi Puffy AmiYumi having their own cartoon series on Cartoon Network, the animation studio Renegade Animation created a pitch pilot, in the hopes of swaying Cartoon Network to green-light the show's production.

The pilot was sent to Cartoon Network and they accepted it and it was to air in late 2003, but for unknown reasons, the pilot was reworked and later premiered on November 19th, 2004. The series premiere was successful and was even at the time one of the highest-rated shows to premiere on Cartoon Network.

Elderly People Seen In Titanic Film Were Based On A Real Life Couple

Not only did the film - starring none other than Kate Winslet and Leonardo DiCaprio - recall the tragic sinking of the RMS Titanic in 1912 and deaths of over 1,500 passengers, but the movie also centred itself on the heart-wrenching love story between Rose and Jack too.

However, there's wasn't the only romance to board the ship.

The true story of another couple has since been revealed.

As well as featuring a scene where Jack paints Rose 'like one of his French girls' and a steamy rendezvous in the back of a car, another couple also makes a cut, spooning one another in bed as the water rushes onto the ship - ultimately deciding to die in one another's arms.

While the scene isn't entirely factually correct - the real-life couple actually deciding to hunker down for a hug on the deck opposed to back in their room - the shot is based on a real couple named Isidor and Ida Straus.

Married in 1871, the Jewish couple had seven children together. Isidor was 67 when he boarded the Titanic and Ida the age of 63.

After the Titanic was struck by an iceberg on that fateful day in 1912, the lives of women and children were prioritised on the lifeboats rescuing passengers from the sinking ship.

However, due to the Straus' status - Isidor a co-owner of Macy's Department Store located in New York - his chance to escape followed shortly after.

Despite being offered a seat due to his status and wealth, Isidor turned the opportunity down, stating: "I will not go before the other men."

Ida resolved to not leave without her husband and according to Historical Honey, said: "We have been living together for many years. Where you go, I go."

Isidor's body was recovered after the ship sunk, however, unfortunately Ida's has never been found.

However, their united love lives on in one of the scenes from the 1997 release - not only portrayed as the couple spooning on the bed, but the design for Rose's cabin room onboard the ship inspired by the Straus' actual room which was the best suite onboard the ship.

Could M-Net Look Into Splitting Some Of Its Assets With Canal+?

Last month, I did a story about Showmax and how rumours had swirled around that MultiChoice was looking to separate it from DStv with some talks expanding further to a possible sale. Canal+ is looking to acquire the pay-tv company and merge their operations.

As some already know, Canal+ is a foreign entity and there's various legal hurdles they'll have to overcome before claiming victory. Since then, they've continued acquiring additional shares and this may a reason and in part it could have to do with its other assets.

MultiChoice isn't the first pay-tv company they sought after as there was Orange SA's film and TV division alongside M7 Group in parts of Europe. The main reason this may prove to be a challenge in Africa has to do with MultiChoice's dominance. 

SuperSport had become the leading destination for sports in Africa and often this had led to legal disputes with various broadcasters such as eMedia Investments. Canal+ is also a monopoly in their respective area something legal entities could explore.

Several media enthusiasts had thought of that possible division of assets with Canal+ funding local broadcasters such as SABC News and Moja Love while controlling daily operations of DStv. MultiChoice or a potential shareholder licensing a few TV channels and Showmax. 

Considering the load of TV channels under M-Net, we presume Canal+ would be able to obtain most of them despite the 20% ruling. In this case, Africa's operations alongside secondary brands Mzansi Wethu and KykNET & Kie with them holding majority sports rights.

M-Net could just limit their operations to a single channel alongside Showmax with M-Net Movies, Mzansi Magic, KykNET, SuperSport Blitz and SuperSport Grandstand. This would form part of a streamlined attempt with further entertainment handled by Canal+.

This separate company and Canal+ would continue working together with Showmax offering the best of the above-mentioned. If anything, this separate company could look into doing more partnerships as seen with NBCUniversal's DStv Glass and Showmax. 

Canal+ with its current assets from MultiChoice would build their own division, Canal+ Africa. This would be where pay-tv platforms DStv and GOtv would reside alongside premium entertainment and sports from Africa Magic, Zambezi Magic, Maisha Magic and SuperSport. 

More Broadcasters Are Reportedly Set To Lose WWE Following Shift To Netflix

Earlier in the year, it was reported that WWE had signed an exclusive deal with Netflix worth $10 billion to bring the trademark exclusively to their services. This would bring WWE's run on linear TV to an end after 31 years as it broadcasts on Netflix in 2025.

Netflix would become the exclusive home to weekly shows Raw, Smackdown and NXT alongside premium live events like WrestleMania and Crown Jewel. This would affect consumers in U.S., U.K., Canada and Latin America with international expansion underway. 

Existing broadcasters such as FOX (U.S.), SportsNet (Canada), TNT Sports (UK) and ESPN (Latin America) will need to find a replacement. Sports journalist Dave Meltzer sites AEW as one of the potential leads for international broadcasting deals. 

But there's a catch as mentioned by Dave:

"Essentially they’re all losing their wrestling, and if the stations want to keep wrestling the best option is AEW. And if AEW is able to get deals with these stations at even half of what WWE gets, or less than half of what WWE gets, that alone would make it profitable even if the WBD deal isn’t a big increase.”

If anything, could SuperSport look into snatching AEW from TNT I mean compared to when WWE was with its previous broadcaster. All events are Express From The U.S. and unlike WWE's endeavors none of the weekly live events were shortened.

Perhaps even Ring Of Honor, it is currently owned by Tony Khan who also manage All Elite Wrestling (AEW). Then lastly New-Japan Pro Wrestling (NJPW), they have done several events with AEW with some familiar faces like Jon Moxley, Matt Riddle and Mercedes Moné.

If anything, don't expect this content to get a standalone channel on DStv for now at least. Considering that these promotions don't have familiarity with audiences it's future is dependent on them and that would determine its growth on SuperSport.