Given the anxious vibes in the entertainment business of late, the NBA and NHL playoffs have been a welcome throwback to happier times.
26.05.2023 - 14:55 / thewrap.com
slashed its dividend by 79% amid a cash crunch on May 6.The deal will see BDT Capital Partners, an affiliate of merchant bank BDT & MSD Partners, receive preferred equity in National Amusements. The cash infusion will help Paramount, formed when CBS and Viacom combined in 2019, steady itself as it navigates the shift from cable to streaming.
The company’s streaming losses reached $511 million in the first quarter of this year and it’s been going through major restructuring to save cash, including shutting down MTV News earlier this month.“The investment will position NAI for sustainable growth and further post-pandemic recovery in its underlying operations as movie theater attendance continues to increase,” National Amusements said in a statement. It plans to use the part of the funds to cut its interest expenses and pay down both short-term and long0-term loans.“NAI has conviction in Paramount’s strategy and execution, and we remain committed to supporting Paramount as it takes the necessary steps to build on its success and capitalize on the strategic opportunities in our industry,” Redstone said in the statement.The dividend cut dramatically reduced Redstone’s income, The Wall Street Journal reported, noting the infusion of cash means National Amusements won’t have to sell part of its stake.
As of March 31, National Amusements held 27% of the company’s stock, according to a regulatory filing.Yet far from selling, Redstone increased her personal holdings by 165,000 shares on May 16, a separate regulatory filing shows, after the stock price had dropped about 34%.Paramount has been exploring the sale of some of its vast holdings, including BET Media Group in an effort to generate cash. Tyler Perry, retired basketball
.Given the anxious vibes in the entertainment business of late, the NBA and NHL playoffs have been a welcome throwback to happier times.
Kate Beckinsale may have the internet beat with her Keanu Reeves story! On Monday, the actress took to her Instagram to share a throwback picture from her first appearance at the Cannes Film Festival with the cast of in 1993. Along with the pic, which was found by her mother, Beckinsale shared the story about how her male co-stars, Keanu Reeves and Robert Sean Leonard, stepped in to help after her bodysuit took on a mind of it's own ahead of her moment on the carpet.«So my mum DID find one of the original Cannes pictures but unfortunately it’s not full length so you can’t see the Dr Martens.
overrules California Gov. Gavin Newsom, who last year vetoed a recommendation by the state’s parole board that Van Houten be set free.Van Houten was convicted in 1971 of killing Leno and Rosemary LaBianca as part of the string of murders carried out by followers of cult leader Charles Manson in August, 1969.
ITV bosses face further questions about what they knew of Phillip Schofield’s affair with a This Morning colleague after claims emerged that the younger lover received a financial settlement from the broadcaster. The Daily Mail has been told that he was given a payment following the end of the on-off relationship, which Schofield described as ‘unwise but not illegal’. ITV have repeatedly declined to comment on the alleged pay-off or deny it.
Ticks can be a real pain to get rid off, and removing then can actually turn dangerous if not done correctly.
Arnold Schwarzenegger is speaking out about Bruce Willis.
ITV News journalist Emily Morgan, who played a key role in covering the Covid pandemic has died aged 45, the broadcaster has announced.
ITV News journalist Emily Morgan has died, the broadcaster has announced. Emily was the broadcaster's health and science editor, playing a major role in the channel's coverage of the coronavirus pandemic.The news of her death was officially confirmed by ITV this evening, posting the update online and to their social media channels, saying that she played a "pivotal role" in her coverage of Covid-19 and was an "incredibly talented" journalist. Emily passed away following a short battle with lung cancer, the broadcaster confirmed.
Hilari Baldwin is returning to her online fitness demonstrations.
Blake Lively is hard at work on the film adaptation of It Ends With Us and we have new photos from set!
National Amusements, the controlling shareholder of Paramount Global run by Shari Redstone, has received a $125 million preferred equity investment from BDT Capital Partners.
Cynthia Littleton Business Editor National Amusements, the parent company of Paramount Global, has received a $125 million investment from BDT Capital Partners, an investment firm that specializes in supporting family-controlled businesses and estates. The influx of cash is designed to take pressure off of Paramount Global stock price, which has been under water in recent months in part because of concern about National Amusements’ financial health. The deal will allow National Amusements to pay off some existing loans that have been secured by the company’s Paramount Global shares. “Our expanded partnership with BDT & MSD reflects our strong belief in Paramount’s ability to deliver value to all shareholders. Paramount has the best assets in the media industry, with an incredible content library and IP spanning all genres and demographics, as well as the No. 1 broadcast network, the leading free ad-supported streaming television service and the fastest-growing pay streaming platform in the U.S.,” said Shari Redstone, Chair, CEO and President of NAI. “NAI has conviction in Paramount’s strategy and execution, and we remain committed to supporting Paramount as it takes the necessary steps to build on its success and capitalize on the strategic opportunities in our industry.”
For the green-fingered among us, the warmer summer weather is good news as it means better conditions for growing fresh produce.
Jimmy Buffett is sharing a health update for his loyal fan base after he was hospitalized for an unnamed medical issue. On Friday evening, Buffett shared a statement to his social media accounts.
Rochelle Humes was told that she's 'not on her own' as she posted an honest snap of herself in tears. The presenter was celebrating over the weekend and her first-born daughter, who she shares with husband Marvin, turned 10.
Lindsay Lohan mesmerized in a behind-the-scenes snap from her new beauty ad campaign on Sunday.
Bethenny Frankel will never hold back her thoughts on a situation – especially if Meghan Markle and Prince Harry are involved!
Lance Bass and his husband, Michael Turchin, are learning for themselves that the «terrible twos» don't start when children turn 2. Their twins -- Violet and Alexander — are already exhibiting «terror»-like behavior, albeit «cute terror.»ET's Brice Sander spoke with Bass and Turchin on Thursday night at the 5th annual Vanderpump Dog Foundation Gala at the Maybourne Hotel in Beverly Hills, and the couple opened up about the best part of being parents to twins, who in just a matter of months will turn 2.«Apparently my mom says they already started,» said Bass about the twins, whom the couple welcomed in October 2021 via surrogate.
A man has been arrested on suspicion of money laundering after a 'six figure sum' of cash was found in a car pulled over by police on the M61. Lancashire Constabulary said the suspect was travelling along the motorway in a Nissan Juke on Thursday (May 18) when he was stopped at around 1pm near Botany Bay near Bolton.
“Republicans are back on the air. Republicans weren’t on the air,” on CNN, Warner Bros. Discovery CEO David Zaslav told a media conference Thursday as he said the storied brand is moving to become less of an “advocacy network” under new leadership.