Launched in 1927, the long-running news service is a victim of budget cuts by the Paramount-owned network In a stunning decision, Paramount’s CBS News announced Friday that it was closing its radio division after 99 years, leaving nearly 700 radio stations affiliated with the network scrambling for replacements. The news impacts Audacy-owned WBBM-AM here in Chicago; the station has been […]
Approved despite lawsuits by states, DirecTV In a historic move, the Federal Communications Commission and the Department of Justice approved the $6.2 billion merger between Irving, Tex.-based Nexstar and McLean, Va.-based Tegna, despite a lawsuit filed by eight state attorneys general and DirecTV. The deal officially closed Thursday night. The FCC granted waivers to Nexstar despite the national ownership cap […]
Comes after the fates of three other syndicated talk shows were decided After the cancellation of Sherri and with Kelly Clarkson retiring from the daytime grind, CBS Media Ventures renewed The Drew Barrymore Show for two more seasons, taking the show through 2028. The talk show began in September 2020, right in the middle of the pandemic. The renewal includes […]
CBS owner outbids tech streamer Editor’s Note: This article was updated on February 27. In 1985, CNN owner Ted Turner made a hostile takeover bid to buy CBS, but the bid failed after Larry Tisch increased his ownership stake in the company, preventing CBS News and CNN from uniting. 41 years later, the two will finally get together – thanks […]
Back to the drawing board as merger media continues Tuesday saw more rejections happen than what Snoopy gets from his publisher. Scripps’ board unanimously rejected rival Sinclair’s $622 million takeover bid, stating it wasn’t in the best interest of their shareholders. Sinclair started buying up Scripps stock, up to 9.9 percent. That prompted Scripps to adopt a “poison pill” strategy, […]
Offering $30 a share to WBD shareholders, saying it’s the best option It’s on. After Netflix agreed to acquire Warner Bros. Discovery for $82.7 billion on Friday, Paramount Skydance on Monday announced a hostile takeover bid for the entire company with an all-cash offer of $30 a share to shareholders. The offer is being financed by hedge fund Apollo Global […]
I Beats Paramount and Comcast in bidding Deal includes HBO and HBO Max; does not include WBD’s cable networks, which will be spun off Passing regulatory tests could be difficult In a move that gained steam in the 24 hours before it was announced, Netflix is buying Warner Bros. Discovery for $82.7 billion, closing a period during which two other […]
Comes after Trump expresses disdain The bid to increase scale in local television has turned into an arms race. Sinclair is the latest to make a bid to acquire a rival, this time Cincinnati-based E.W. Scripps, a company that was founded in 1878 as a newspaper chain. If successful, Sinclair would own and/or operate around 250 stations in the […]
CBS gives up domestic syndication rights, but not until 2028 The year-long feud between CBS and Sony Pictures Television over the distribution rights and profits of Wheel of Fortune and Jeopardy has come to an end as the two parties announced a settlement of their lawsuit on Friday. Sony, who sought to take over distribution rights to both long-running game […]
Friendly regulatory climate, urge to compete with streamers fuels merger talk The future of Warner Bros. Discovery appears to be headed in two directions: a split or an outright takeover by another media company. It’s clear that Paramount head David Ellison, whose Skydance bought the company last year, is looking for more. That’s what media observers are looking at, as […]
Comes as new Paramount owner Skydance takes over Thursday Paramount-owned BET announced on Wednesday that it was “indefinitely suspending” the BET Hip-Hop Awards and The Soul Train Music Awards, as the Black-oriented network is figuring out what to do with them. “So for BET linear, we have suspended the Soul Train and Hip-Hop award shows”, BET President Scott Mills told […]
Comes after the network agrees to concessions [Editor’s note: This post was updated July 25.] After months of waiting, the FCC has officially approved the Skydance-Paramount merger, which will bring changes to the nation’s most prestigious television network. Technically, the FCC approved the transfer of 28 FCC licenses of CBS stations to Skydance. CBS operates stations in eight of the […]
Comedy Central’s signature show moves to Paramount Plus domestically After a contentious back-and-forth with a lot of insults thrown, South Park creators Trey Parker and Matt Stone and their South Park Digital Studios agreed to a new five-year, fifteen billion dollar deal with Paramount Global, bringing the entire library exclusively to Paramount Plus. Paramount Plus will offer next-day new episodes […]
Is the move politically motivated? Colbert was a frequent Trump critic In a stunning move, CBS announced Thursday it was ending The Late Show franchise after 33 years and getting out of the late-night business entirely, claiming the decision was made due to “financial decisions.” Current CBS late-night host Stephen Colbert announced before The Late Show began on Thursday. During […]
National feed to launch June 30; DirecTV also strikes deal with Paramount for ‘MySports’ and other skinny bundles Exactly a year after its launch, Weigel’s MeTV Toons is getting a major distribution boost, courtesy of DirecTV. Starting Monday, the classic animation channel will be available to Choice and Ultimate subscribers, as well as the newly announced MyKids genre pack. “Viewers […]
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