Jeffrey Katzenberg On Paramount Drama – “Don’t Count David Ellison Out”

Sony has signed an NDA with Paramount Global, a move that will give it access to the books and allow deal talks to move ahead, Deadline hears.

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.

Joe Otterson TV Reporter Country music superstar Tim McGraw is adding to his acting resume with a new drama series at Netflix. Variety has learned that McGraw will star in the untitled series, which is set in the world of competitive bull riding.

Joe Otterson TV Reporter The Anthony Mackie and Jamie Dornan heist series “12 12 12” has landed at Apple TV+ and is nearing a series order, Variety has learned exclusively. The series was first reported to be on the market back in January. Mackie and Dornan will both star in the series in addition to executive producing.

Michaela Zee “Terminator Zero” has set its premiere date at Netflix. The eight-episode animated series, which revolves around new characters in the “Terminator” universe, will premiere globally on Aug. 29.

Shari Redstone strolled onto the red carpet in New York City tonight for the premiere of Paramount Pictures IF, John Krasinski’ star-studded PG adventure that opens this weekend. She was there to support studio chief Brian Robbins.

Carrie-Anne Moss is set to join Arnold Schwarzenegger in Season 2 of Netflix’s spy adventure series Fubar.

Todd Spangler NY Digital Editor Carrie-Anne Moss is joining Arnold Schwarzenegger in action comedy series “Fubar” Season 2 as a former East German spy — who has a passionate history with Schwarzenegger’s CIA operative. Moss (“The Matrix” movies, Disney+’s “The Acolyte”) joins the returning cast of “Fubar,” which includes Schwarzenegger, Monica Barbaro, Fortune Feimster, Travis Van Winkle, Jay Baruchel, Aparna Brielle, Andy Buckley, Milan Carter, Fabiana Udenio and Barbara Eve Harris.In Season 2 of “Fubar,” Schwarzenegger reprises his role as Luke Brunner, a veteran CIA operative who, until recently, was on the verge of retirement.

Should Sony and Apollo get their hooks into Paramount Global their strategy would be to keep theatrical release output steady between both studios –not reduced– while cutting the more burdensome parts of the conglom, read auctioning off CBS, the linear channels like MTV and Paramount Plus streaming service.

EXCLUSIVE: After successfully launching the Extraction film franchise at Netflix, director Sam Hargrave has his eyes set on another potential franchise with a piece of IP that is revving its engines to get out the gate. Sources tell Deadline that Skydance and Mattel Films have closed a deal with Hargrave to direct a live-action movie based on Matchbox, Mattel’s iconic real-world die-cast toy vehicle line. David Coggeshall and Jonathan Tropper are penning the script.

Jeffrey Katzenberg is a man known for choosing his words very carefully most of the time, and tonight the WndrCo boss was pretty candid when it came to Donald Trump and Joe Biden.

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.

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.

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.

Paramount Global‘s CEO Bob Bakish is out. The executive who has been a presence at several iterations of the company since 1997 will exit, effective immediately. A triumvirate of division heads — Brian Robbins, George Cheeks and Chris McCarthy — will step in to lead the company for now in a new office of the CEO.

David Ellison’s Skydance has presented Paramount Global board’s special committee with a revised offer to take control of the company, Deadline has learned. Terms weren’t immediately available, story will be updated when they are. The new proposal is likely designed to make a deal more palatable to Paramount investors beyond controlling shareholder Shari Redstone, something that her family holding company NAI had requested.

Matt Donnelly Senior Film Writer As turmoil continues to surround the future of Paramount Global, details surrounding interim leadership and its proposed Skydance deal are coming to light, multiple sources told Variety. Sunday was a consequential day in Shari Redstone’s ongoing exclusive bargaining window with David Ellison‘s Skydance, one that would see the Hollywood scion take majority ownership of Paramount Global and its owner National Amusements Inc. Skydance offered its “best and final” offer to Redstone on Sunday, sources added.

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.