What many saw as inevitable has finally come to pass. During the company’s annual earnings call, Disney CEO Bob Iger revealed that the Walt Disney Company will roll out a singular streaming app by the end of 2023.
22.04.2023 - 00:11 / deadline.com
Paramount Global said that, pending court approval, it will receive $167.5 million in settlement of a suit by shareholders of the former CBS Corp. against some of the broadcaster’s former officers and directors, including Shari Redstone and Joseph Ianiello. Called a derivative suit, it’s filed on behalf of the company, whose parent is getting the cash.
It marks the ends of longstanding litigation of two shareholder suits, by Viacom and CBS stockholders, in Delaware Chancery Court, both related to the 2019 merger of Viacom and CBS. ViacomCBS changed its name to Paramount Global in Feb. of 2022.
The Viacom suit was settled last year, with Paramount agreeing to pay shareholders $122 million directly in a settlement. The CBS suit was a bit different in structure, brought on behalf of the company against Shari Redstone, National Amusements, CBS board members, and Joseph Ianniello, the former CBS president and acting chief executive officer (following Les Moonves’ exit).
The complaint, a consolidation of three class action suits, alleges breaches of fiduciary duties in connection with the negotiation and approval of the merger agreement. It also alleges waste and unjust enrichment in connection with Ianniello’s compensation. The executive left shortly after the merger closed with a $125 million pay package. It claimed majority owner Shari Redstone stacked the Viacom board with allies and jammed the deal through against the best interests of CBS shareholders.
Defendants had tried get the case dismissed but the judge allowed all but one claim to go forward.
Paramount said in an SEC filing today that parties had agreed to a binding term sheet for the “final dismissal” of the litigation.
The company declined to comment beyond
What many saw as inevitable has finally come to pass. During the company’s annual earnings call, Disney CEO Bob Iger revealed that the Walt Disney Company will roll out a singular streaming app by the end of 2023.
Blink-182 have covered Taylor Swift‘s classic hit ‘We Are Never Ever Getting Back Together’ — watch the footage below.The pop-punk icons are currently on their highly anticipated world tour that features the original lineup of guitarist Tom DeLonge, bassist Mark Hoppus and drummer Travis Barker.
“Succession” is known for surprising twists, but even the directors didn’t see this one coming.
A "Rust" medic was awarded $1.15 million in a partial settlement after the death of cinematographer Halyna Hutchins. Court records show the partial settlement between Cherlyn Schaefer and Sarah Zachry was approved during a hearing Monday after the prop master missed court deadlines. Rust Movie Productions and the movie's former weapons supervisor, Hannah Gutierrez-Reed, and assistant director remain as defendants in the civil case.
Succession stars Brian Cox, Kieran Culkin and Jeremy Strong are on course to make history at the 2023 Emmy Awards, according to a new report.
Taking the mic for the second time in a week, Paramount Global CEO Bob Bakish explained why the company slashed its dividend and talked streaming, advertising and weathering a WGA strike.
Well, “Yellowstone” fans, the rumors are true: Taylor Sheridan‘s hit show will end at the end of the second half of Season 5, which will premiere on Paramount Network in November. But fans of the series won’t need to wait long for the show’s story to continue.
Gene Maddaus Senior Media Writer Paramount has filed a motion to throw out a lawsuit over the 1968 version of “Romeo and Juliet,” arguing that a nude scene with underage actors does not amount to “childhood sexual assault.” Actors Olivia Hussey and Leonard Whiting were 16 and 17 when they starred in the movie, which was directed by Franco Zeffirelli. The film’s famous bedroom scene includes a lingering shot of Whiting’s buttocks and a brief glimpse of Hussey’s breasts. The actors, now in their 70s, filed a $500 million suit in December, alleging that Zeffirelli pressured them into performing in the nude. They accused Paramount, the distributor, of profiting from their sexual exploitation.
Well, “Yellowstone” fans, the rumors are true: Taylor Sheridan‘s hit show will end at the end of the second half of Season 5, which will premiere on Paramount Network in November. But fans of the series won’t need to wait long for the show’s story to continue.
EXCLUSIVE: Bella Thorne is headed to the 69th edition of Italy’s Taormina Film Festival (June 24 to July 1) after being invited to guest curate one of its gala evenings with a special program of short films including her own directorial debut Paint Her Red.
Keanu Reeves’ band Dogstar is making a comeback.
She really had a hold on him. Smokey Robinson claimed he had a year-long affair with Diana Ross while he was married to his first wife.
Smokey Robinson is opening up about his longtime friendship with Diana Ross.
A sequel to Dodgeball: A True Underdog Story is officially in the works after nearly 20 years, with Vince Vaughn set to reprise his role. Deadline reports that a sequel to the cult comedy starring Vaughn and Ben Stiller is in early development at 20th Century Studios, with Vaughn likely to produce.
Smokey Robinson has a lasting love for Diana Ross. The 83-year-old music icon opens up about his and Ross' longtime friendship, even claiming that they had a year-long affair during his first marriage to Claudette Rogers. When asked in an interview with whether he and Ross ever had «a thing,» he replies, «Yes, we did,» adding that it lasted «about a year.» «I was married at the time. We were working together and it just happened,» he shares. «But it was beautiful.
Smokey Robinson has lasting love for Diana Ross. Robinson, 83, is making a major confession about the pair's long-running friendship, claiming that he and Ross, 79, had a year-long affair during his first marriage to Claudette Rogers. Asked, point blank, in an interview with whether he and Ross ever had «a thing,» he replies: «Yes, we did» adding that it lasted «about a year.» «I was married at the time. We were working together and it just happened,» he shares. «But it was beautiful.
Play ball! A Dodgeball sequel is officially in the works — and Vince Vaughn has reportedly signed on to reprise the role of Peter La Fleur.
securities filing. CBS shareholders had alleged that it overpaid for Viacom in 2019 so that Shari Redstone could consolidate her family’s media empire.According to a securities filing Friday, the company will be paid $167.5 million to settle the suit.
Cynthia Littleton Business Editor Producer Steven Paul has optioned the rights to “Unscripted: The Epic Battle for a Media Empire and the Redstone Family Legacy,” with plans to develop the nonfiction bestseller by James B. Stewart and Rachel Abrams as a TV series. The book, published by Penguin Random House in February, tells the sordid, behind-the-scenes story of the battle for control of Sumner Redstone’s media empire. The book has been the talk of the town in Hollywood as industry insiders learn the unvarnished details behind the recent history of Sumner and Shari Redstone, Viacom, CBS Corp., Leslie Moonves and a host of other prominent figures. Paul is in the process of recruiting a writer to develop the property as a limited series through his SP Media Group. The deal was brokered for Stewart and Abrams by CAA’s Ron Bernstein and SP Media president Scott Karol.
They haven’t quite killed Kenny, but Paramount Global tonight took a hard swipe at Warner Bros Discovery over South Park.