Paramount Global Sells Stake In Viacom18 To India’s Reliance For $500 Million

Christine Quinn‘s marriage to Christian Dumontet has been rocky for a long time! And we mean REALLY rocky!

Video game publisher Take-Two Interactive Software has acquired Gearbox Entertainment, the company behind the Borderlands franchise, for $460 million in an all-stock deal with Embracer, the latest big deal in the video game business.

Jennifer Maas TV Business Writer Take-Two Interactive has acquired video game developer Gearbox, the maker of the “Borderlands” franchise, from Embracer Group for $460 million. Per Take Two, the company “expects the transaction to deepen its successful relationship with Gearbox Entertainment and to provide increased financial benefits through a fully-integrated operational structure.” As part of the deal, Take-Two will acquire Gearbox IP, including “Borderlands” and “Tiny Tina’s Wonderlands” franchises, games published by Take-Two’s 2K Games, as well as “Homeworld,” “Risk of Rain,” “Brothers in Arms” and “Duke Nukem.” Currently, Gearbox has six “key interactive entertainment projects in various stages of development,” per Take Two, which includes five sequels, two from “Borderlands” and “Homeworld” universes, and at least one “exciting new intellectual property,” all of which have been acquired in the sale.

Todd Spangler NY Digital Editor Paramount Global‘s debt rating was cut to junk status by credit-rating agency S&P Global, which cited the media conglomerate’s ongoing challenges with free cash flow generation relative to its debt. S&P on Wednesday said it expects Paramount Global’s free operating cash flow-to-debt will remain “well below” 10% through 2025, and that adjusted leverage (debt-to-equity ratio) will stay above 3.5 times through then.

James Cameron’s “Titanic” was officially sold at the Treasures From Planet Hollywood auction last week for a whopping $718,750. According to Heritage Auctions, the prop was the most bid-upon item despite being surrounded by other iconic pieces of Hollywood’s legacy. In the film, the door is used when Rose (Kate Winslet) and Jack Dawson (Leonardo DiCaprio) attempt to lie on the piece of wood while awaiting rescue shortly after the RMS Titanic sinks.

George Harrison and Eric Clapton, has sold for almost £3million at auction.The collection included letters from when she was in a “love triangle” with Harrison and Clapton, along with artwork, photos and more.The internationally famous fashion model has been cited as the inspiration behind classic rock songs like ‘Something’, ‘Layla’ and ‘Wonderful Tonight’.The full collection sold for a total of £2,818,184 at auction, which was led by the original artwork Clapton chose for the cover of Derek and the Dominos’ 1970 album ‘Layla and Other Assorted Love Songs’.The artwork was estimated to fetch between £40,000 and £60,000, but went for £1,976,000 after a prolonged bidding battle, according to The Guardian.The collection went on public display at auction house Christie’s London headquarters, before going up for sale.How Pattie Boyd inspired some of the 20th century's greatest love songs. As mementoes from the iconic rock muse's collection come to Christie's, the model-turned-photographer looks back on her relationships with two legendary songwriters.

Jennifer Maas TV Business Writer What does the future hold for Paramount Global? The odds of a seismic M&A event seem to be increasing: Private-equity firm Apollo Global has reportedly offered $11 billion for Paramount’s Hollywood studios. Short of carving up the “mountain of entertainment,” as the Paramount+ tagline boasts, analysts say the overture could drive up bidding for the entirety of Paramount Global — which is what Shari Redstone, who owns a controlling stake in the media conglomerate, is understood to prefer. Given that backdrop, let’s consider what Paramount Global comprises — and the potential effect of selling it off in its entirety or in pieces.

Shares of Paramount Global popped in afternoon trade on a report that Apollo Global has made an $11 billion bid for the company’s film and TV studio. The private equity giant has been in and out of the mix of suitors, which also include David Ellison‘s Skydance Media and Byron Allen.

Todd Spangler NY Digital Editor Pocket FM, a fast-growing audio entertainment startup based in India, said it banked $103 million in Series D funding as it looks to boost its presence in the U.S. and expand into Europe and Latin America. The round — which brings Pocket FM’s total funding to date to $196.5 million — was led by previous investor Lightspeed Ventures with participation from StepStone Group.

A planning application has been submitted for a new £20 million community hub in Marple.

EXCLUSIVE: After seeing his Amazon MGM romantic drama The Idea of You debut to glowing reviews on the closing night of SXSW, Michael Showalter has been set to reteam with the studio on Oh. What. Fun, a holiday comedy to star Golden Globe winner and Academy Award nominee Michelle Pfeiffer (French Exit).

Attorneys for Donald Trump said that they have been unable to secure a bond as they appeal his $464 million civil fraud judgment.

Paramount Names Australia/New Zealand Chief

Rebecca Rubin Film and Media Reporter “Dune: Part Two” is barreling toward another box office milestone. Director Denis Villeneuve’s science-fiction sequel has grossed $494.7 million globally, including $208 million in North America and $289.4 million internationally. It should surpass the $500 million mark by Monday, a figure that few films have reached in post-pandemic times.

A Florida woman has been arrested after allegedly trying to sell her infant daughter to a stranger for $500. Jessica Woods (pictured above

Todd Spangler NY Digital Editor Paramount Global has sold its 13% ownership stake in TV and streaming company Viacom18 to Reliance Industries for $517 million. Reliance was already the majority owner of Viacom18. The pact comes two weeks after Disney and Reliance Industries announced a blockbuster $8.5 billion deal merging their massive Indian TV and streaming businesses.

Owen Wilson is taking to the golf course for a comedy series for Apple TV+.

Meghan Markle has reportedly hired a UK-based PR person, sparking questions like "Why now? " This is the first time Prince Harry and Meghan have had a UK-based employee since they left the UK in 2020, according to Pandora Forsyth who recently appeared on GB News. Forsyth finds the timing curious, asking, "Why now? Why the business change? " Anne Diamond, the host of GB News, suggests that the new PR hire might be planning to recommend that the Sussexes spend more time in the UK as a way to win over the public.

When a world famous cookie store opens its first shop in the north of England, there are likely to be queues. When that shop is inside the shopping mecca that is The Trafford Centre, well, you can guess the result.

Harrison Ford revealed that he can’t escape the music of John Williams, who scored Ford’s “Indiana Jones” and “Star Wars” movies — even during a certain delicate medical procedure. “As I often remind John, his music follows me everywhere I go — literally,” Ford, 81, said in a Variety profile of the “Indiana Jones” theme song.“When I had my last colonoscopy, they were playing it on the operating room speakers.”Ford, who’s a famous curmudgeon, also said that his admiration for Williams’ music extends beyond the movies on which they’re both associated.