Skydance & Paramount Exclusive Negotiating Window Ends In Hours – Will David Ellison Walk?

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.

Will Mellor discussed the notorious Strictly curse for the first time ever during a candid conversation with co-host Ralf Little on their popular show Two Pints With Will and Ralf. The duo treated fans to an engaging back-and-forth at Nottingham's Royal Concert Hall.The chat kicked off with Ralf teasing his friend: "I believe there's a thing called the curse of Strictly.

EXCLUSIVE: Two well-known UK indies will become one as All3Media’s Objective Media Group consolidates Triple Brew and Betty into a new, as-yet-unnamed single label, Deadline has learned.

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.

Another big Hollywood name is rooting for a Paramount-Skydance deal as Jeffrey Katzenberg says that outcome would be “a great win for Paramount and for people in the industry.”

Cynthia Littleton Business Editor Paramount Global goes back to playing the field this week with two suitors still pursuing the company that has been surrounded by a highly public M&A drama for months. And it’s unlikely to end any time soon. The company reached the end of its 30-day exclusive negotiating window with Skydance Media on May 3 without coming to an agreement.

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.

The Robin Wright (House of Cards)-led The Girlfriend has been ordered to series at Prime Video with Olivia Cooke (House of the Dragon), Laurie Davidson (Mary and George), and Waleed Zuaiter (Gangs of London) also set to star. The series, to be directed by Wright, is based on Michelle Frances’ novel of the same name.

Joe Otterson TV Reporter Amazon Prime Video has ordered a series adaptation of the Michelle Frances novel “The Girlfriend” with Robin Wright set to star and direct, Variety has learned. In addition, Olivia Cooke (“House of the Dragon,” “Sound of Metal”), Laurie Davidson (“Mary and George”), and Waleed Zuaiter (“Gangs of London”) will star alongside Wright. The official description of the series states: “Laura (Wright) wants for nothing.

EXCLUSIVE: Following her breakout role as Shin Hati in the hit Star Wars series Ahsoka, Ivanna Sakhno has found her next big role. Sources tell Deadline she has landed a major part in M3GAN 2.0, a sequel to the hit film from Atomic Monster and Blumhouse in association with Divide/Conquer. She joins a cast that includes Allison Williams and Violet McGraw.

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.

Brian Steinberg Senior TV Editor The recent broadcast of Super Bowl LVIII boosted Paramount Global‘s first quarter of 2024, stabilizing advertising revenue at its TV operations, as the company’s streaming operations added more than 3 million subscribers and cut losses there by more than 40%. Overall, Paramount narrowed its first quarter operating losses while seeing a 6% uptick in revenue, due in large part to audience and advertiser interest in its Big Game presentation, which set a new viewing record.

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.