Apollo Global Offered $27 Billion for All of Paramount Global but the Bid Was Rebuffed

Joe Otterson TV Reporter Callum Turner has been cast in the lead role of the series adaptation of the William Gibson novel “Neuromancer” at Apple TV+, Variety has learned. The series was originally announced in February. Per the official description, the 10-episode drama follows “a damaged, top-rung super-hacker named Case (Turner) who is thrust into a web of digital espionage and high stakes crime with his partner Molly, a razor-girl assassin with mirrored eyes, aiming to pull a heist on a corporate dynasty with untold secrets.” This will mark the second starring role in an Apple series for Turner.

BAFTA Award-nominee Callum Turner (Masters of the Air, The Boys in the Boat) is joining Neuromancer, a new 10-episode drama based on the sci-fi novel of the same name by William Gibson.

Paramount Global CEO Bob Bakish saw his total compensation dip slightly in 2023, to $31.3 million from $32 million in the prior year.

Todd Spangler NY Digital Editor Netflix made a surprise announcement in reporting its (very good) first-quarter 2024 results this week: The streaming TV powerhouse will stop reporting quarterly subscriber figures starting in 2025. In response, Netflix shares have taken a hit: The stock is down 8.7% Friday on the news, as investors fret that the lack of visibility into the streamer’s customer numbers signals a looming slowdown in the company’s growth.

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.

Todd Spangler NY Digital Editor A media consultant sued Chicken Soup for the Soul Entertainment, alleging he is owed “at least several million dollars” for work he did related to the company’s $370 million acquisition in 2022 of Redbox, the DVD kiosk and streaming company. Keith Knee, described in his legal complaint as an advisory and consulting services professional in the media industry, filed suit against Chicken Soup for the Soul Entertainment on Friday, April 19, in the U.S. District Court for the Southern District of New York.

Remember those rumors, oh, eight years ago about how Sony was a target for acquisition?

Todd Spangler NY Digital Editor TikTok says it’s going to block accounts from appearing in its algorithmically generated For You feed if they repeatedly post content that runs afoul of its updated eligibility standards. As part of a larger update to its community guidelines, TikTok is updating its For You eligibility standards.

Todd Spangler NY Digital Editor Wonya Lucas, former president and CEO of Hallmark Media Networks, has joined Comcast‘s board as an independent director. Comcast announced Lucas’s addition to the board, effective as of April 15, in an SEC filing Monday. She has not yet been appointed to serve as a member of any board committee, according to the filing.

Todd Spangler NY Digital Editor DoubleVerify, which provides brand-safety measurement ratings for digital platforms to major advertisers, incorrectly displayed X‘s Brand Safety Rate — a measure of how frequently ads appeared adjacent to content that met advertiser-approved criteria — on the DoubleVerify dashboard for nearly five months. From Oct. 24, 2023, to March 14, 2024, DoubleVerify’s dashboard provided the wrong data for X to advertisers.

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.

What do you do when your conglom might be a target for a takeover. Don’t sweat it and laugh.

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

Todd Spangler NY Digital Editor Disney‘s games group has bulked up executive ranks with new hires and promotions after the announcement of its $1.5 billion investment in Epic Games and partnership to create a virtual world featuring the Mouse House’s brands and characters. Ray Gresko, formerly chief development officer at Blizzard Entertainment (who left prior to its the Microsoft acquisition of Activision Blizzard), joins the Disney Games team as senior VP, product and development.

The nearly two-year old dogfight between Paramount and the family of the writer of the 1983 article that inspired the franchise is over.

Cynthia Littleton Business Editor Charter Communications is about to play a guest-star role in the corporate drama surrounding Paramount Global. As if Shari Redstone’s media empire wasn’t under enough pressure, Paramount Global now is in the final few weeks of its most recent carriage agreement with Charter, the nation’s second largest cable operator behind Comcast. The two companies are in renewal discussions, the outcome of which will have significant influence on Paramount’s ability to deliver the free cash flow that media investors are expecting from the company that has lately posted big losses on streaming operations.

Todd Spangler NY Digital Editor Women’s pro hoops are coming back to Amazon‘s Prime Video for at least two more years. Prime Video and the WNBA on Friday announced a rights renewal deal under which Prime Video will continue to be the exclusive U.S. streaming partner for a package of 21 games each season, including the Championship Game of the WNBA Commissioner’s Cup.

Todd Spangler NY Digital Editor Some subscribers to Disney‘s streaming services will start seeing some new messaging up this summer: Pay up for anyone outside your main household who’s illicitly piggybacking on the services — or face potentially getting disconnected. According to Disney chief Bob Iger, the Mouse House this June will “be launching our first real foray into password sharing” enforcement.

Todd Spangler NY Digital Editor Trian Partners founder Nelson Peltz has accepted defeat — for now. Peltz, a day after the activist investor lost a costly proxy battle with Disney, went on CNBC’s “Squawk on the Street,” Thursday to discuss what happened. “The shareholders have voted.

UPDATED with stock price: Shares of Paramount Global jumped more than 15% Wednesday afternoon with Skydance chief David Ellison in pole position to clinch a majority stake of National Amusements.