Goodbye Colbert, hello Baliweis? Paramount stands on a fork on the road after ultimately winning FCC approval
This week’s FCC approvedmerger between Paramount Global Skydance Media is also expected to be completed at a value of $8 billion over the next few weeks. The question of the new company is whether psychic costs are much higher.
It took a few months, especially at Paramount-owned CBS. Litigation “60 minutes” Announced the end of Stephen Colbert’s late-night show Critics have led them to suggest that corporate leaders are succumbing to President Donald Trump.
Following Thursday’s approval of the Federal Communications Commission, one of the current Paramount Leader’s victory, Christ McCarthy, said he would leave the company. McCarthy is responsible for the decline of cable properties such as MTV, Comedy Central and Nickelodeon, and is expected to bear the brunt of an estimated $2 billion cost savings identified by Skydance leaders.
Skydance Head’s David Ellison is expected to lead a new company, and he has identified former NBC Universal Executive Jeff shell As the next president.
CBS News’ trajectory is examined
After the August 7 deadline for the merger, the new leaders will be most closely monitored how they handle CBS News, especially considering the $16 million paid in settlements of Trump’s complaints that last fall’s “60 Minutes” interview, which was compiled and settled the look of his opponent, Kamala Harris. Two News Executives – News CEO Wendy McMahon “60 Minutes” Executive Producer Bill Owens – Resigned because he opposed the transaction.
The appointment of respected insider Tanya Simon to replace Owens this week was seen as a positive sign by “60 minutes” people.
A few days before the FCC vote, Paramount agreed to hire an ombudsman on CBS News on its mission to investigate complaints of political bias. “In all respects, Skydance ensures that CBS’s report is fair, fair and factual,” Skydance said in a letter to FCC Chairman Brendan Kerr.
The role of the ombudsman or public editor looking into the work of news outlets is often positive. Kelly McBridean ethics expert who has been in that role for five years at NPR. “I really want you to be loyal to your judgment and the organization’s journalistic mission,” she said.
However, it can be problematic that there is only one mission to look into bias. To be fair, she said that the work of journalists should be studied closely before making the decision, rather than being judged based on a single report or passage.
In an interview with CNBC on Friday, Kerr said the role “should do a great job in restoring America’s trust in the media.” FCC Commissioner Anna Gomez, who voted to reject the contract on Thursday, interpreted the arrangement as a way for the government to control journalists.
“They want to report to the news media about them in the positive views and light they want,” Gomez told MSNBC. “So they don’t want to work in the media, meaning they want to explain to the government without fear or favor.”
How Mergers Ripples across Paramount Properties
According to published reports, Ellison has Exploring Free Press Purchasea thriving news site founded by Bali Weiss, perhaps best known for his previous NPR editor’s research into liberal bias in public broadcasting. An Ellison spokesperson did not reply to a message seeking comment Friday.
Colbert’s slow motion layoff – he works until the end of his contract next May – was described as a financial decision by CBS given the collapsed economics of late-night television. Colbert’s Trump’s ruthless lambhoon and his criticism of “60 minutes” reconciliation brought doubts of those motives.
“Was this really financial?” Comic John Stewart wondered. “Or perhaps the path to the least resistance to a $8 billion merger was killing a show you know you’ve been ranked vulnerable and revenge president?”
Stewart’s profan criticism of his own top priority show may offer a unique test for Skydance. “The Daily Show” is one of the few original programs left at Comedy Central, and his contract ends later this year.
Oddly, buttress CBS’s claims of Comedy Central’s “South Park” claim that Colbert’s decision is financial rather than political. Creator’s Tray Parka and Matt Stone Episode was released This week I drew a naked card on a bed with the devil. Paramount has just signed Parker and Stone for a new $1.5 billion deal that Skydance executives have certainly cleared. Allows the entire “South Park” library to be streamed on Paramount+. A platform where Colbert shows barely work.
Understanding what to do with Paramount’s cable network or with others across the network is an early decision for his heavily-paid son Ellison. Oracle co-founder Larry Ellison.
“By letting go of these assets there is a clear opportunity to improve Paramount’s growth profile,” TD Securities analyst Doug Krutz told investors on Friday. “On the other hand, it appears that Ellisons didn’t buy Paramount to split the parts.”
The merger has brought Paramount Movie Studio to one of its most legitimate partners. David Ellison has been one of the industry’s top investors and producers since founding SkyDance in 2006.
Ellison also has a challenge. The longstanding uncertainty about the future and modest investment in the film pipeline has reduced Paramount’s market share among major studios. Paramount+ Streaming Service was Money Rose.
To bring Paramount back, Ellison will revamp its streaming operations, leverage the franchise and try to strengthen the family’s content.
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Associated film writer Jake Coyle contributed to this report. David Bauder writes about the intersection of media and entertainment on the AP.