Paramount And Skydance Merger Facing A Class Action Lawsuit By A Shareholder

The suit, which was filed in Delaware court by Class B common stockholder Scott Baker, broadly alleges that controlling shareholder Shari Redstone forced through an “unfair” deal that benefits her and Paramount’s parent company National Amusements Inc (NAI) at the expense of Class B shareholders, who had no say in the deal.

The suit argues Redstone was intent on selling her interest in Paramount to Skydance “regardless of its impact on other Paramount shareholders.”

Through a unique ownership structure, the Redstone family’s holding company NAI owns 77% of the voting shares in Paramount, though it only holds a roughly 10% equity stake.

Under the proposed deal, Paramount’s Class B stockholders can cash out their shares at US$15. However, the suit alleges there isn’t enough money in the deal to buy out all of the non-NAI Class B shares. Instead, argues the suit, shareholders would get a mix of cash and Class B stock in the merged entity amounting to only US$12.23 per Class B shares.

The suit also alleges that Paramount’s board is “packed with Redstone insiders, over whom she exercises control,” and that Redstone has a history of controlling company boards and ousting directors in order to bring merger deals to fruition.

On the latter point, it cited the 2019 CBS-Viacom merger as an example of Redstone doing “everything in her power” to force a deal through, “even if it took her a couple of years and required ousting directors, packing boards of both merging companies with directors who would support her, and using NAI’s status as controlling shareholder to get what she wanted.”

In addition to Redstone, Paramount and NAI, the lawsuit also names Paramount board members Barbara Byrne, Linda Griego, Judith McHale, Charles Phillips and Susan Schuman as defendants, in addition to Skydance and its CEO David Ellison.

The filing of the lawsuit comes three weeks after Paramount and Skydance announced they had come to terms on a deal to form New Paramount following a lengthy negotiation process that saw several other bidders in the picture. The companies said they expect the transaction to close in the first half of 2025.

Through the deal, Skydance, which is backed by private equity firms RedBird Capital and KKR, will invest around US$2.4bn to acquire Paramount Global’s parent company, National Amusements, for cash and US$4.5bn for the stock/cash merger consideration to be paid for publicly traded Class A shares and Class B shares. It will also invest US$1.5bn to help improve Paramount’s balance sheet.

Ellison will serve as chairman and CEO of New Paramount, while Jeff Shell, the former NBCUniversal CEO who is currently chairman of sports and media at RedBird Capital, has been named president. Those appointments will become effective when the transaction closes.

The deal also includes a 45-day ‘go shop’ period, which allows Paramount to look for better offers before going with Skydance. However, going with another company would mean Paramount would have to pay Skydance a US$400m “breakup fee.” On Friday, billionaire Barry Diller, who emerged as a potential suitor last month, indicated that his company IAC was likely out of the running.

It had been widely assumed that the Paramount-Skydance deal would draw shareholder scrutiny and lawsuits, and there are expected to be several others filed in the coming months.

Primedia, Parent Company For 947 And Eyewitness News Reportedly Up For Sale

Private equity shareholders of Primedia are considering strategic options for their stakes in the South African broadcasting group, according to people with knowledge of the matter.

The company, owned by EPE Capital Partners, FirstRand, Old Mutual and the Mineworkers Investment Trust, has turned around under CEO Jonathan Procter, helping boost its valuation, said the people who asked not to be identified because the talks are private.

A jump in operating cash flow at Primedia makes it easier for the private equity firms to begin discussions with local and international companies, they said.

Primedia attracts interest from international and local investors from time to time

Interest in broadcasting firms in Africa — home to the youngest and fastest growing population in the world — has been on the rise in tandem with the surging use of mobile phones and declining data prices.

France’s Canal+ is in the process of acquiring DStv parent MultiChoice Group in a deal that values the company at R55-billion.

Primedia, the owner of Eyewitness News and Radio 702, is targeting a 25% increase in earnings before interest, taxes, depreciation and amortisation to R1-billion in the near term, two of the people said. Improving finances at the broadcaster may value the firm at R6.4-billion to R9.2-billion, the people said.

Primedia “attracts interest from international and local investors from time to time”, the company said in an emailed response to queries. “These expressions of interest are considered by the board and shareholders, although no process has been announced by the board.”

Content

EPE Capital and Old Mutual Private Equity referred queries to Primedia. Rand Merchant Bank, a unit of FirstRand, and Mineworkers Investment didn’t respond to requests for comment. The process is still at an early stage and there’s no guarantee any deal will go ahead, the people said.

Primedia was founded in 1994 and operates in eight African countries including South Africa, Nigeria and Zimbabwe.

The company recently established a studio production business that holds the licensing rights to local versions of shows including the Masked Singer and Deal or No Deal.

The company has also started selling content to streaming services such as Netflix and Apple+, and opened a sporting business for advertising and sponsorships as it increasingly pivots the company to becoming more digital focused. 

Vivendi Posts First-Half Revenues Of $9.8 Billion, Bolstered By Canal+, Lagardere

Vivendi, the parent company of French pay TV banner Canal+ Group, saw its 2024 first-half revenues reach $98 billion, a 5.8% year-on growth. The media conglomerate also posted a 98.4% spike in second-quarter revenues.

Lagardère, the media, publishing and travel retail conglomerate which was acquired last year, as well as Canal+ Group, bolstered revenues. Vivendi also boasted an EBITA of $671 million — 39.3% up compared with the first half of 2023, driven by the consolidation of Lagardère and the growth of Havas. At constant currency and perimeter, EBITA increased by 13.5%, while adjusted net income reached $357 million.

Canal+ Group’s revenues went up by 4.6% to $3.2 billion, helped by TV operations in mainland France and overseas. Revenues from Canal+’s film and TV group Studiocanal also increased by 8.6%, thanks in part to the performance of Amy Winehouse biopic “Back to Black” which was released on April 24 and has sold around the world.

Under the leadership of CEO and chairman Maxime Saada, Canal+ has also increased its interest in Scandinavian pay TV banner Viaplay to 29.33%, becoming its largest shareholder; and recently took a stake in leading Senegalese production company Marodi TV. Canal+ has also made a tender offer to buy the African service MultiChoice Groups.

Asia is also part of Canal+’s international expansion plans. The company has increased in the leading Asian OTT service Viu to 36.8% and is now looking to have it go up to 51%.

Back in France, Canal+ Group has bought OCS, pay-TV package and Orange Studio, the film and series co-production subsidiary. Some of the new editorial developments include the creation of Studiocanal Stories, a new label dedicated adapting literary works into films and TV series in France and several European countries. Canal+ Group is also continuing to strike deals and partnerships with big U.S. players, including Warner Bros. Discovery which signed a distribution agreement with the French banner for its standalone streaming service Max.

Vivendi’s management board gave an update on the group’s plan to split into three separate entities and list assets. Under current plans, Canal+ will be listed at the London Stock Exchange, Havas at the Euronext Amsterdam, and an entity which will bring together publishing and distribution, including Louis Hachette Group, at the Euronext Growth Paris. Vivendi will remain listed on Euronext Paris.

Vivendi said Canal+ and Havas will maintain their leadership and operational teams at the Paris headquarters, and they will also remain French tax residents for French corporate income tax purposes.

Yannick Bolloré, chairman of Vivendi’s Supervisory Board, said the group’s half-year results were “driven by our three main businesses, which contributed to organic revenue growth of nearly 6% and organic EBITA growth of 13.5%.”

Arnaud de Puyfontaine, Vivendi CEO, meanwhile, said its “various businesses have demonstrated their dynamism, both in terms of organic growth and acquisitions, the strength of their respective business models and their ability to transform and adapt to their environment and the expectations of their customers.” The executive said the group is currently “strengthening its international positions.”

Teenage Mutant Ninja Turtles And Naruto Collaborating In New Comic Book Line

The Teenage Mutant Ninja Turtles comic book line is having a banner year in 2024. Not only is IDW kicking off a star-studded relaunch of the monthly TMNT series and continuing the Last Ronin saga, now they're gearing up for a crossover with one of the biggest anime and manga properties on the planet. That's right, the heroes of TMNT and Naruto are joining forces.

Teenage Mutant Ninja Turtles x Naruto is a joint effort between IDW Publishing and Viz Media. This four-issue series is written by Caleb Goellner (Sonic the Hedgehog) and illustrated by Hendry Prasetya (Mighty Morphin Power Rangers), with colors by Raúl Angulo (NYX) and letters by Ed Dukeshire (The Woods). Jorge Jiménez (Batman) and Prasetya provided cover art for issue #1.

Here's IDW's official description for issue #1:

It’s the coolest ninja matchup you could have ever dreamed of, had you dared! The Heroes in a Half-Shell meet the host of the Nine-Tailed Fox in the crossover everyone will be talking about.

When teenage reporter April O’Neil has a clandestine meeting with Tsunade, the leader of the Hidden Leaf Village, it garners the attention of Naruto, Sasuke, Sakura, and Kakashi. They aren’t the only ones who are wondering what the two women were discussing, though. The sinister Foot Clan have their own interest in April’s visit, as they think she might hold the valuable information on mutation research being conducted by the scientist Baxter Stockman. With April caught between the forces of the Hidden Leaf Village and the Foot Clan, it can’t be long before the Teenage Mutant Ninja Turtles show up to lend her a hand!

Working with acclaimed manga publisher Viz Entertainment, IDW is pulling together two of the most popular comics in the world to bring you the four-issue comic book event of 2024!

Teenage Mutant Ninja Turtles x Naruto #1 will be released on November 13, 2024.

Maxwell Atoms On When Cartoon Network Originally Died: "We Also Had To Cut Ourselves...Which Is When CN Died"

Cartoon Network is an international children's channel operated by Warner Bros. Discovery alongside TNT and Cartoonito. It is home to shows like Adventure Time, Tiny Toons Looniversity, Craig Of The Creek and Dexter's Laboratory.

As some readers know, one of the channel's remaining primetime shows Jellystone will be having a crossover special. Similar to Teen Titans GO! WB100 special, it would feature a variety of animated characters that had already been viewed on Cartoon Network. 

A fan had asked Maxwell Atoms (creator of The Grim Adventures Of Billy And Mandy) if all animated characters would appear on the show and his response was mentioned below in bold:

We put as much as we could. More than a recommended doctor. But we only used shows made at CN Studios (not Teen Titans GO!). I believe Mixels was an acquisition. We also had to cut ourselves around 2008, which is when CN originally died.

Taking to account that shows like Steven Universe, Adventure Time and Chowder were all conceived after that timeline of Cartoon Network. Atoms views on the network had somewhat got a lot of mixed reactions from former and current viewers.

Even after 2008, Cartoon Network continued having a lot of great shows from what we can gather with Atoms views. That timeline coincides with when he and Genndy Tartakovsky had exited the network as there was a lot of corporate changes behind the scenes.

But even then like I said Cartoon Network was still a go to channel for children and animation lovers alike. If we had to guess when Atoms views materialized on the network it was no less than the 2010s era with the latest residing by 2015/6.

At this time, Cartoon Network was building a wall between shows like Ben 10: Omniverse and Steven Universe as these were their more action-ie shows. With the current slate being dominant around comedic styles with Teen Titans GO! and Uncle Grandpa. 

Following the merger of WarnerMedia and Discovery, Cartoon Network has never recovered from the after effects. At the moment, there's only 4 originals with 1 imported from Europe, 2 produced by Warner Bros. Animation and the last being an actual original.

It is believed that this merger had since scared potential animators from associating themselves with the network as they try to navigate the current landscape. 

Additional Afrikaans Voice Actors For Annekan Die Swa Kry, Doodsondes, Chrysalis, Die Put And Elif

Ayden Cory as Tolga

Pierre Nelson as Ahmet

Amalia Uys as Sevval

Jacques Theron as Burak

Nell Van Der Merwe as Suzan

Wanda Banda as Yasmin

Joce Engelbrecht as Gönül

Marina Botha as Ayla

Tanja Franzsen as Nebahat

Kira Joy Huizies as Layla

Meggan Lee Johnstone as Afra Yildiz

Caleb Felix as Omer

Susanne Beyers as Handan

Hendri Mouton as Sedai

Richard Van Der Westhuizen as Çetin

Juandre Kim Anderson as Kumru Yildirim

Morne Esben as Çağatay

Willie Fritz as Docan

Electra Hartman as Feyza Üstündag

Conradie Van Heerden as Omer

Meggan-Johnston as Canan

Cedwyn Joel as Cavt

Pierre Nelson as Alp

Joce Engelbrecht as Seren

Mario Haupt as Arik

Margo Kotze as Layla

Miche Van Wyk as Burcu

Clarissa Saaiman as Asli

Marunzo Thomas as Mahir

Marissa Claasen as Rana

Margo Kotze as Filiz

Susanne Beyers as Kiymet

This was originally published on Die Afrikaans Voice Actors.Pagie

NBA Signs New 11-Year Media Agreements With The Walt Disney Company, NBCUniversal And Amazon Prime Video

The National Basketball Association (NBA) today announced the renewal of its partnership with The Walt Disney Company and new agreements with NBCUniversal (NBCU) and Amazon under which ABC/ESPN, NBC/Peacock and Prime Video will telecast NBA games beginning with the 2025-26 season and running through the 2035-36 season.

The NBA App will be a universal access point – seamlessly directing fans to every national game on Disney, NBCU and Amazon platforms.

The new media deals will expand the reach of NBA telecasts, with all national games available on broadly distributed streaming services – Prime Video, Peacock and ESPN’s forthcoming direct-to-consumer service – and with dramatically increased exposure on broadcast television.  Approximately 75 regular-season games will be on broadcast TV each season, up from the minimum of 15 games under the current agreement.

“Our new global media agreements with Disney, NBCUniversal and Amazon will maximize the reach and accessibility of NBA games for fans in the United States and around the world,” said NBA Commissioner Adam Silver.  “These partners will distribute our content across a wide range of platforms and help transform the fan experience over the next decade.”

“We look forward to building upon our incredible legacy of innovation and growth with our longstanding partners at the NBA,” said ESPN Chairman Jimmy Pitaro.  “The NBA is a vibrant, ascendant league and through this premium collection of rights, including every NBA Finals on our platforms, we will continue to evolve together while successfully navigating the global digital transition and delivering the highest quality coverage for fans.”

“We are proud to once again partner with the NBA and WNBA, two iconic brands and the home of the best basketball in the world,” said Mike Cavanagh, President of Comcast Corporation.  “We look forward to presenting our best-in-class coverage of both leagues with our innovative programming and distribution plan across NBC and Peacock to entertain fans and help grow the game.”

“We are honored that the NBA has entrusted Prime Video to deliver its one-of-a-kind action and excitement to viewers around the world,” said Mike Hopkins, Head of Prime Video and Amazon MGM Studios.  “We look forward to continuing to innovate and evolve live sports coverage for our customers, and are fully committed to building an incredible video experience for millions of NBA fans starting in 2025.”

Disney, NBCU and Amazon also secured the right to distribute an unprecedented number of WNBA live game telecasts, with a significant increase in the reach of WNBA games across broadcast, cable and streaming.  Full details regarding the WNBA’s media agreements will be issued in a separate press release.

The Walt Disney Company

Disney (ABC/ESPN) will distribute a total of 80 NBA regular-season games per season, including more than 20 games on ABC (generally on Saturday nights with NBA Saturday Primetime and on Sunday afternoons with NBA Sunday Showcase) and up to 60 games on ESPN (generally on Wednesday nights and, on occasion, Friday nights).  ABC/ESPN will continue to telecast all five NBA games on Christmas Day and provide exclusive national coverage of the final day of the regular season.

During the playoffs, ABC/ESPN will telecast approximately 18 games in the first two rounds each year and one of the two Conference Finals series in 10 of the 11 years of the agreement.  ABC will remain the exclusive home of the NBA Finals, which it has broadcast since 2003.

All NBA games and events on ABC/ESPN will be available on ESPN’s forthcoming direct-to-consumer service.  ABC/ESPN will continue to telecast the NBA All-Star Celebrity Game, NBA Draft, NBA Draft Lottery and half of all NBA Summer League games.  ABC/ESPN platforms will also continue to distribute a package of WNBA and NBA G League regular-season and postseason games.

Disney will distribute NBA games on ESPN-branded assets in several international markets, including Latin America, Sub-Saharan Africa, Oceania and the Netherlands, and via Disney+ in select markets in Asia and Europe.

By the end of this renewal, the NBA’s partnership with ABC/ESPN will reach 34 years.

NBCUniversal

NBCU (NBC/Peacock) will distribute up to 100 NBA regular-season games per season – with more than half of the games airing on NBC (on Sunday and Tuesday nights).  NBCU will telecast the league’s opening night doubleheader on NBC each year and at least two games on MLK Day on NBC and/or Peacock each season.

Peacock will stream a doubleheader each Monday night of the season.  Every Tuesday night, NBC will telecast two games across certain NBC affiliate broadcast stations in different regions of the country.  The first game will start at 8 p.m. ET and be available on NBC across affiliate stations in the Eastern and Central time zones.  The second game will start at 8 p.m. PT and be available on NBC affiliate stations across the Pacific and Mountain time zones.  All Tuesday games will be available on Peacock nationally and certain stations may choose to televise both games.

NBC will become the home of NBA All-Star, including Rising Stars, State Farm All-Star Saturday Night, featuring AT&T Slam Dunk, Starry 3-Point Contest and Kia Skills Challenge, and the All-Star Game.  In the playoffs, NBC and/or Peacock will telecast approximately 28 games in the first two rounds of the playoffs, with at least half of those games airing on NBC.  NBC will also telecast one of the two Conference Finals series in six of the 11 years on a rotating basis with Amazon, beginning with the 2025-26 season.

As part of the partnership, NBCU will distribute NBA games in several European markets through Sky Sports as well as in the Caribbean and Sub-Saharan Africa.  Additionally, NBCU will distribute WNBA games and be the home of all USA Basketball Senior Men’s and Women’s National Team games.

Xfinity will become the Official TV Service of the NBA, WNBA and USA Basketball.  The partnership includes collaboration on marketing and storytelling opportunities, virtual signage during game telecasts and activations at marquee NBA, WNBA and USA Basketball events.

Amazon

Amazon will distribute 66 NBA regular-season games on Prime Video each season, including Thursday night doubleheaders beginning in January, Friday evening doubleheaders, select Saturday afternoon games, at least one game on Black Friday (the day after Thanksgiving), and the Quarterfinals and Semifinals in the Knockout Round of the Emirates NBA Cup.  In addition, Prime Video will stream the Championship Game of the Emirates NBA Cup.

Prime Video will also distribute all six SoFi NBA Play-In Tournament games.  In the playoffs, Prime Video will stream approximately one-third of the first and second rounds each year.  Additionally, Prime Video will stream one of the two Conference Finals series in six of the 11 years on a rotating basis with NBCU, beginning with the 2026-27 NBA season.

Amazon will distribute NBA games globally as part of Prime Video, with an expanded package of games in select territories, including Mexico, Brazil, France, Italy, Spain, Germany, the United Kingdom and Ireland.  This expanded package includes a minimum of 20 additional primetime regular season games each year, a Conference Finals series each year, and the NBA Finals in six of the 11 years.  Prime Video will also become the NBA’s strategic partner and third-party global destination of NBA League Pass – the league’s live NBA game subscription service, with expanded distribution rights for NBA League Pass in the U.S. and internationally.   Additionally, as part of the agreement, Prime Video will stream half of all NBA Summer League games as well as a package of WNBA and NBA G League regular-season and postseason games.

PSL Partners With Betway To Launch The Betway Premiership

The Premier Soccer League (PSL) is proud to announce Betway, South Africa’s leading online sports and gaming brand, as the premier division’s new title sponsor.

The premier division of football will now be known as the Betway Premiership.

Chairman of the Premier Soccer League, Dr Irvin Khoza welcomed the new deal as a major boost to the sport: “This is a massive boost for every lover of football in this country. Our partnership with Betway confirms our league’s standing as one of the best in the world and heralds a wonderful future for our game. Betway’s energy and enthusiasm will have immediate impact across all facets of the game, and on behalf of the PSL, I am proud to welcome them on board as title sponsor and partner.”

Laurence Michel, Betway Africa, believes that the deal marks the beginning of a new era for the premier division, adding that Betway looks forward to help in writing a new chapter in the PSL’s rich soccer history.

“Football is a fundamental part of South African life. It really is in our blood and has been for generations. We are incredibly proud to be the title partner of the Betway Premiership. It further demonstrates not only our respect of the history of the league, but our vision for the development for its future. The PSL aligns with our values as a brand that commonly champions great South African success stories,” Michel said

Formally established in 1996, but with roots that go back nearly a century, the Premier Soccer League is indisputably the most popular sporting competition in South Africa, with legendary characters, dearly-loved clubs and rivalries that capture the essence of football and culture in this country.

Michel explained that the Betway Premiership will lean heavily on the legacy and rich history of a football league already entrenched as one of the top ten domestic league competitions in the world and is excited by what the future holds for football in South Africa.

“We appreciate how much football has done for people and for our country. As we begin this partnership, we want to acknowledge and celebrate what the game has accomplished in the past. We also want to enhance the game as it stands today and, most importantly, we want to help build an even better future for the next generation of footballing stars from this country,”

Michel added, “We are so excited by what this partnership will do for football fans in South Africa. As a brand, we are known globally for our sponsorships of the world’s biggest clubs and tournaments and that experience is going to play a huge part in driving the PSL forward.”

This partnership further reaffirms the brand’s commitment to the South African sporting industry. It is the latest addition to an enviable sporting partnership portfolio, which spans across a number of sports, which also includes the world champion Springboks, as well as the Betway SA20.

Warner Bros. Discovery's Plan To Split Up Studios From Cartoon Network And HBO Could Come With Everlasting Effects

Warner Bros. Discovery after accumulating so much debt even after the formation of Discovery and WarnerMedia is exploring a separation of assets. This would see Warner Bros. Studios operating independently away from linear brands like Cartoon Network and HBO.

With that huge debt, no company can afford it to absorb it unless some cost cutting measures were implemented in an attempt to reduce that debt. The only other option in mind at this point would be splitting up as seen prior or selling assets separately. 

Separating Cartoon Network from Warner Bros. Studios could come with various risks like if there's no funding coming from Warner Bros. Discovery how will it survive. Even if the idea were to sell, Cartoon Network could become more like The CW and TBS.

It could lose credibility and give brands like Nickelodeon and Disney Channel more of an advantage. Maybe, it's possible that the channel could survive the purge and build similar positioning to DreamWorks and Moonbug which serves as promotional. 

Cartoon Network unveiled several new projects at Annecy like Foster's Funtime For Imaginary Friends, an untitled Regular Show series and Scooby-Doo! Go Go Mystery Machine. These are likely projects they want to distribute on other platforms.

Max had join the likes of SABC+ and BBC iPlayer platforms with little to no original content as they shift focus on archived material. Those titles are likely being shipped from platform to platform.

The splitting of Warner Bros. Discovery also guarantees job losses and the possibility of cord cutting. If two people were managing TNT and TBS separately they could let go of one and also seek to merge TNT and TBS alongside its programming. 

Warner Bros. Discovery was operating independently in other countries with Warner TV and Cartoon Network continuing to add new content. There's no guarantee that the services in those markets will stay afloat especially if the lot depend on its studios for survival. 

The PFL Partners With SuperSport To Broadcast Live MMA Action In English Speaking Countries Across Sub-Saharan Africa

The Professional Fighters League (PFL), the fastest-growing and most innovative sports league, on Wednesday announced a media rights deal with SuperSport, for all PFL and Bellator programming to air across SuperSport channels.

The partnership kicked off in thrilling fashion as fans in the region were able tune into the opening event of the 2024 PFL Europe Season on March 7 when global superstar Cedric ‘The Best’ Doumbe took on Baissangour ‘Baki’ Chamsoudinov at the Accor Arena in Paris.

Through the partnership, all PFL programming - including live coverage of PFL PPV Super Fights, PFL Europe and newly announced PFL MENA - will be available on SuperSport, Africa's premier sports broadcaster.

The promotion is set to launch its third international league - PFL Africa - in 2025.

Through its exclusive global strategic partnership with Francis Ngannou, the world’s greatest combat sports athlete today and the baddest man on the planet, the linear heavyweight champion will be an equity owner in and Chairman of PFL Africa, the region’s premier MMA league.

Events will be staged in key countries across the continent live in primetime to meet the major demand for premium and consistent MMA content. More details will be announced later this year.

“Sub-Saharan Africa represents a priority market for the Professional Fighters League as we continue our rapid global expansion,” said PFL SVP, International James Frewin. “We’re thrilled to partner with SuperSport so viewers across the region can watch premium PFL and Bellator MMA content all year-round on SuperSport.”

PFL is the only organisation in MMA with the sports-season format, where individual fighters compete in a regular season, playoffs, and championship each year.

The combined roster of PFL and Bellator boasts 30 per cent of its fighters independently world-ranked in the top 25 of their respective weight class, the same per centage as UFC. PFL has an expansive global vision for the sport and is building the “Champions League of MMA” with PFL Europe, PFL MENA, and more international leagues in development.

PFL leads in technology and innovation, with its proprietary PFL SmartCage, powering fight analytics, real-time betting, AI scoring, and a next-generation viewing experience.

PFL is primetime on ESPN/ESPN+ in the US and is broadcast and streamed in 150 countries with 20 premium media distribution partners.

Kyle Carrozza, Creator Of Mighty Magiswords On Cartoon Network Arrested For Possession Of Child Pornography

Kyle Adam Carrozza, creator of the Cartoon Network series Mighty Magiswords, was booked last month by the Burbank Police Department on two counts of child pornography possession.

Carrozza, 45, was arrested at an apartment complex in Burbank, California, on the morning of Thursday, June 20, at 7:30 am. The arrest was part of an Internet Crimes Against Children (ICAC) Task Force investigation. The arrest was reported in the Burbank Police Department’s daily arrest log.

Carrozza’s Mighty Magiswords debuted on Cartoon Network’s CN Anything app as a 15-second micro-series in 2015. The show was “custom created for the way young audiences consume media today,” Rob Sorcher, then-chief content officer for Cartoon Network, said in 2016. “This is about how stories can be told in new ways and how a community can play together.”

Nearly 400 pieces of platform-specific content were created around Carrozza’s show, including shorts, vlogs, web/mobile games, and interactive narrative content. Then, in 2016, Cartoon Network turned the project into a linear tv series, which lasted for two seasons and over 90 episodes.

According to Carrozza’s Linkedin page, he had most recently been a board artist on Nickelodeon’s The Fairly OddParents: A New Wish and The Casagrandes Movie. His other credits include storyboarding on Warner Bros. Animation’s Animaniacs reboot, Apple TV+’s The Snoopy Show, Disney Junior’s Doc McStuffins, Disney’s Fish Hooks, Frederator’s Bravest Warriors, and Nickelodeon’s Fanboy & Chum Chum, as well as doing character layout on Paramount’s Spongebob Squarepants: Sponge Out of Water. He also created the short MooBeard the Cow Pirate for Nickelodeon’s Random! Cartoons.

Carrozza has been charged under California penal code 311.11(a), which is possession of child pornography, and an enhanced 311.11(c) charge, which is for individuals knowingly in possession of at least 12 videos, or 600 images, of child pornography.

The offenses can be charged as either a misdemeanor or felony and are punishable by up to one year in county jail or up to five years in state prison. If found guilty of either charge, Carrozza will be ordered to register as a sex offender with law enforcement. The crimes he is accused of do not apply to drawings, figurines, statues, or films rated by the Motion Picture Association.

The story was originally published on Cartoonbrew.

Possibly Cancelled. Still No Update Of A Unicorn: Warriors Eternal Season 2 On Adult Swim

Unicorn: Warriors Eternal is an American adult animated fantasy television series created by Genndy Tartakovsky and aired on Cartoon Network's night-time programming block Adult Swim. The series stars the voices of Hazel Doupe, Demari Hunte, and Tom Milligan. 

Tartakovsky originally conceived Unicorn: Warriors Eternal in his early days at Cartoon Network Studios. The series took almost 20 years to get made, with Tartakovsky pitching it to various studios before it was picked up by Cartoon Network and HBO Max.

The series premiered on Adult Swim from May 5, 2023 and concluded on June 30, 2023 literally a year ago with only 10 episodes. Although a second has yet to be commissioned by the network, Tartakovsky has expressed interest in doing multiple seasons.

Why Unicorn: Warriors Eternal may not be returning with a season 2?

No one at Cartoon Network, Adult Swim or Warner Bros. Animation not even Genndy Tartakovsky has talked about the show. As for the creator, he's currently working on Heist Safari and a third season to Primal for the mentioned brands.

If anything, it's possible that with Warner Bros. Discovery being cash constraint that they rather put their focus on lesser projects. Even with Tartakovsky already working on these projects it's possible he may not be able to pencil in Unicorn: Warriors Eternals.

Another theory that comes to mind is the possibility of it being a miniseries I mean that's happened with Infinity Train but surprisingly got additional seasons. Both of which had their first seasons end with a question mark with one that was eventually renewed.

Even My Adventures With Superman which was originally commissioned by Cartoon Network before moving to Adult Swim. Unlike Unicorn: Warriors Eternal, Superman got a 2 season renewal but with that concluding soon was renewed for a season 3.

Paramount Global And Skydance Merger Will Shed $2 Billion In Cost Cutting Measures

Paramount Global parent National Amusements and Skydance Media have agreed to merge less than a month after the sides abruptly ended deal talks.

Paramount, owner of Paramount Pictures movie and television studios, the CBS television network and CBS News, announced in a news release late Sunday that it is combining with Skydance, an entertainment business founded by David Ellison, son of Oracle founder Larry Ellison. Paramount also owns the Paramount+ streaming service, Nickelodeon, BET, MTV, Comedy Central and other media brands. 

The transaction resolves months of speculation around the future of Paramount, which also reportedly attracted a $26 billion bid from a consortium including Sony Pictures and private equity firm Apollo Global Management. A range of prominent media and entertainment industry executives were also said to have expressed interest in a possible deal for Paramount.

Under the two-step deal, Skydance will first pay $2.4 billion for National Amusements, which controls 77% of the voting shares of Paramount. Shareholders with non-voting stock will receive $15 per share, or one share of non-voting stock in the new company. 

Class A shareholders other than National Amusements will receive $23 per share, or the right to get 1.5333 non-voting shares in the merged company. Paramount Global would then merge with Skydance in an all-stock transaction that values the latter at $4.75 billion.

The deal also gives other potential bidders for Paramount 45 days to submit a competing offer, an apparent effort to appease shareholders who felt Skydance's initial bid undervalued their stake in the media company. The transaction is subject to regulatory approval. 

Uniting old and new Hollywood

The deal unites Paramount — a storied movie studio dating back to 1912 that is known for film classics such as "Titanic," "The Godfather" and "Raiders of the Lost Ark," as well as franchises including "Star Trek" and "Mission Impossible" — with a relative newcomer to the entertainment industry. Since David Ellison launched Skydance in 2010, the company has produced or co-produced hit films and TV shows including "Top Gun: Maverick" and the "Reacher" streaming series. 

"This is a defining and transformative time for our industry and the storytellers, content creators and financial stakeholders who are invested in the Paramount legacy and the longevity of the entertainment economy," Ellison said in a statement. "I am incredibly grateful to Shari Redstone and her family who have agreed to entrust us with the opportunity to lead Paramount. We are committed to energizing the business and bolstering Paramount with contemporary technology, new leadership and a creative discipline that aims to enrich generations to come."

Ellison will serve as chairman and CEO of Paramount, and Jeff Shell, chairman of RedBird Sports and Media, a unit of investment firm RedBird Capital Partners, will become president. Shell is the former CEO of NBCUniversal.

Redstone's final act

For Shari Redstone, the controlling shareholder in National Amusements, the deal brings to a close her family's long stewardship of Paramount, which was built on the foundation laid by her late father, entertainment mogul Sumner Redstone. In recent years, that effort has focused on growing Paramount's streaming footprint, along with the continued expansion of its core network TV, cable and movie businesses. 

"In 1987, my father, Sumner Redstone, acquired Viacom and began assembling and growing the businesses today known as Paramount Global," Redstone said in a statement. "He had a vision that 'content was king' and was always committed to delivering great content for all audiences around the world. That vision has remained at the core of Paramount's success and our accomplishments are a direct result of the incredibly talented, creative and dedicated individuals who work at the company. Given the changes in the industry, we want to fortify Paramount for the future while ensuring that content remains king."

The merger with Skydance follows what has been a fraught negotiation in which Paramount executives sought to balance the interests of investors who own the company's voting shares — which are primarily controlled by Redstone — and investors with non-voting stock. The latter are represented by large institutional investors such as Berkshire Hathaway and Vanguard, according to financial data firm FactSet.

The deal also follows the April 29 departure of former Paramount Global CEO Bob Bakish, who was replaced by an Office of the CEO led by three division chiefs: George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO of Showtime and MTV Entertainment Studios; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon.

After the initial deal to combine National Amusements and Skydance collapsed on June 11, Paramount's new leadership disclosed plans to cut costs by $500 million, explore a joint venture or other possible partnerships for Paramount+, and sell non-core assets. It is uncertain how that blueprint could change under Skydance's watch. 

In a call with Wall Street analysts on Monday to discuss Paramount's future, Shell said RedBird and Skydance had identified roughly $2 billion in potential cost savings.

In its most recent quarter, Paramount reported an operating loss of $417 million on revenue of $7.6 billion, compared with a loss of $1.2 billion on revenue of $7.2 billion in the year-ago period. Skydance, which is privately held, expects its annual revenue to reach $1 billion in 2024, according to The Wall Street Journal. 

The sale of Paramount also highlights ongoing consolidation within the media space as industry stalwarts like Paramount and CBS seek to compete with much larger competitors, including technology and entertainment companies. 

Skydance Media Gets Board Committee Approval For Control Of Paramount Global After Lengthy Chase

David Ellison‘s Skydance Media has gained a key approval vote for the company’s proposed acquisition of Paramount Global controlling shareholder National Amusements Inc. after seven months of talks.

The deal was blessed Sunday by a special committee of Paramount’s board of directors, a person familiar with the matter told Deadline. A formal announcement is expected as soon as Monday morning.

Bloomberg News earlier Sunday was the first to report on the special committee vote.

While the board committee action is a milestone, one of the features of the current agreement is a 45-day “go-shop” provision, which allows NAI chief Shari Redstone to field alternative offers. Apollo Global Management, Barry Diller and Edgar Bronfman Jr. are among those who have explored bids. Apollo, both on its own and in partnership with Sony Pictures, has submitted formal offers in recent months but they haven’t gained much traction.

Under terms of the Skydance agreement, Redstone and her family will receive $1.75 billion, with additional funds going toward Paramount debt repayment. The transaction is expected to be the first of two parts, with a full merger between Skydance and Paramount Global to follow. NAI controls nearly 80% of Paramount’s Class A, or voting, shares. It holds only about 10% of its equity value, with that disparity adding to the complexity of deal negotiations in recent months.

Skydance is a longtime partner with Paramount Pictures as a co-financier on marquee franchises like Mission: Impossible, Star Trek, Transformers and Top Gun. Along with the 112-year-old movie studio, Skydance will gain control of a portfolio including CBS, Nickelodeon and Paramount+. Unlike other bidders aiming to break up the company, Skydance is seen as wanting to preserve the entity in much the same shape as it currently exists, though there will undoubtedly be significant cost cutting. That strategic vision helps explain Redstone’s longtime preference for Skydance over some other suitors, according to sources familiar with the deal talks.

Less than a month ago, it seemed that any hope of the parties reaching a deal had evaporated. Redstone pulled out of a planned deal at the 11th hour over concerns regarding her net proceeds and exposure to shareholder lawsuits. While earlier Skydance overtures caused Paramount’s already battered stock to sink even lower due to concerns about shareholder dilution, the most recent go-round has boosted the share price. In Hollywood and media circles, the Paramount M&A watch has punctuated a period marked by existential anxiety and fears emerged of another major studio poised to disappear in the wake of Fox’s absorption by Disney.

Ellison and his backers (reportedly including his father, billionaire Oracle founder Larry Ellison) were undaunted by Redstone’s last-minute reversal in June. Parting with the media empire built by her father, Sumner Redstone, has never been an easy process. Shari Redstone, after taking the reins a decade ago as Sumner Redstone’s health declined, succeeded with signature initiative, bringing Viacom and CBS back under the same corporate umbrella after multiple attempts. The merger of the companies into what is now Paramount Global closed in December 2019.

The triumph of shepherding the merger turned out to be short-lived, with Covid and numerous other difficulties piling up as two companies became one. Today, Paramount faces considerable challenges on many fronts. The company, which is a fraction of the size of top media rivals Disney and Comcast, is straining to make a profit in streaming as it confronts secular declines in its linear TV business and an unsettled moviegoing climate. While Paramount shares have enjoyed an uptick on the merger news, they are still worth less than one-third what they were when Viacom and CBS came together.

As the company has explored various M&A scenarios, it has also jettisoned longtime CEO Bob Bakish in favor of a tripartite Office of the CEO consisting of veteran execs George Cheeks, Chris McCarthy and Brian Robbins. At the company’s annual shareholder meeting and a subsequent town hall with employees last month, the execs laid out their strategy, which consists of reducing expenses (targeting $500 million in annual cost savings), maximizing the asset portfolio and exploring streaming partnerships or joint ventures. Just before the most recent Skydance news broke last week, there were reports of Paramount in talks to sell BET and discussing a streaming partnership with a third party.

“While we recognize that this is not a traditional management structure, we are confident that it will enable them to move quickly to implement best practices throughout the company and to drive improved performance,” Redstone said at the annual meeting.

As the Office of the CEO gets set to pass the baton (former NBCUniversal CEO Jeff Shell is waiting in the wings as part of the Skydance bid), yet another round of downsizing will reshape the company’s workforce. At the end of 2023, the company had 21,900 full- and part-time employees.

“We’d like to take a moment to acknowledge the challenges of all the M&A speculation surrounding our company,” Robbins said during the town hall. “We know what a difficult and disruptive period it has been. And while we cannot say that the noise will disappear, we are here today to lay out a go-forward plan that can set us up for success no matter what path the company chooses to go down.”

Candle Media Restructures, Folding Animation Into Moonbug As Hello Sunshine Chief Sarah Harden Takes Over Rebranded Studio

Blackstone-backed “next generation” entertainment group Candle Media is tightening belts amid the streaming downturn, enacting a series of cost-cutting measures and reorganization of its acquisitions. The outfit will split into two divisions, folding its animation business into CoComelon studio Moonbug (which Candle acquired in November 2021 for nearly $3 billion), while live-action projects are collected under the rebranded Candle Studios.

Sarah Harden, formerly chief of Reese Witherspoon’s Hello Sunshine label (acquired by Candle in August 2021 for $900 million), will head the live-action division rebranded as Candle Studios (also including prodcos Exile, True Stories and Faraway Road). The parent company, established in 2021 by Disney alums Kevin Mayer and Tom Staggs with a $1 billion investment from Blackstone, dissolved Hello Sunshine’s animation division into Moonbug last year.

Candle set up to fill demands of streamers as major studios began damming up their content to reserve for their own platforms, paying hefty sums to acquire popular brands. In an interview with Semafor Tuesday, Mayer said that this angle on approaching streaming buyers was “the one thesis that is holding true, though it’s fraying around the edges slightly.” The co-CEO agreed that Candle had paid “at the top of the market” for its acquisitions. “Have the financials borne out the way we would like, to have to support the prices that we paid? Probably not,” he admitted, adding optimistically, “Talk to us in two or three years.”

A Blackstone spokesperson also told Semafor that one of the biggest impacts on Candle’s financial state were the dual Hollywood strikes by SAG and WGA last year. The company also carries about $1.4 billion in debt, which at 12% is consuming most of its earnings. “We continue to be optimistic about [Candle’s] prospects coming out of the work stoppages and look forward to supporting its growth,” the investor rep noted.

Semafor‘s Ben Smith points out, “Moonbug has almost single-handedly saved [Candle Media]. Despite a drumbeat of questions from the industry about the company’s strategy, properties including CoComelon make Candle a powerhouse in children’s media, a great business on YouTube, and has a solid foothold in streaming.”

Paramount Global Has Applied For A New Trademark Based On SpongeBob SquarePants Called Bikini Bottom News

Paramount, under Viacom International Inc., has applied to register Bikini Bottom News under NICE Class "41 - Education, entertainment, sporting and cultural services", for "Entertainment services, namely, providing a multimedia video segment and online content in the nature of non-downloadable videos". The request was filed on June 25, 2024, and is currently pending approval.

Bikini Bottom News takes it name from the Bikini Bottom News news channel featured in the SpongeBob Universe, which reports events happening in and around Bikini Bottom, with the Realistic Fish Head and Perch Perkins serving as the network's main reporters.

As the name and description suggest, Bikini Bottom News is most likely a SpongeBob SquarePants-themed digital series. Although a launch date has yet to be announced, Bikini Bottom News will most likely form part of Nickelodeon's celebrations to commemorate the 25th anniversary of SpongeBob SquarePants.

Source: NickALive

Paramount And Skydance Are Said To Reach A Deal To Merge

Just weeks after Paramount’s controlling shareholder and Skydance abruptly ended merger talks, the two sides have reached a preliminary deal to create a new Hollywood giant, four people familiar with the negotiations said Tuesday.

The agreement will still have to be approved by a special committee of Paramount’s board of directors, said the people, who spoke on the condition of anonymity as talks resumed.

Paramount — the parent company of CBS, MTV and Nickelodeon — and Skydance, the up-and-coming movie studio that helped produce “Top Gun: Maverick,” called off talks in June just before a scheduled vote on a merger. While the two sides had agreed on economic terms, Shari Redstone, Paramount’s controlling shareholder through its parent company, National Amusements, had clashed with Skydance in the final weeks of negotiations.

But the two sides have continued to talk, and now the Paramount board committee will evaluate whether new terms will be sufficiently palatable for shareholders, some of whom pushed back significantly against the last proposed deal. One likely point of focus will be the extent of protection offered to National Amusements in event of shareholder lawsuits.

In this latest deal, National Amusements’ equity would be valued at $1.75 billion, up slightly from $1.7 billion in the transaction’s last incarnation, three of the people said.

Paramount Global Is In Exclusive Talks To Sell BET For $1.6 Billion

Paramount Global is in exclusive talks to sell its Black Entertainment Television network to buyers that include BET Chief Executive Officer Scott Mills and Chinh Chu, who runs the New York-based private equity firm CC Capital.

The group has been discussing an offer of $1.6 billion to $1.7 billion, people familiar with the matter said, asking not to be named revealing information that’s not public. 

Last year, the same group had discussed an offer of a little under $2 billion, Bloomberg reported in December. Chu and Mills are rekindling discussions with Paramount for BET after Shari Redstone, who has a controlling stake in Paramount, walked away from a proposed merger with Skydance Media, the company led by David Ellison. 

Representatives for Paramount and Chu declined to comment. Mills didn’t respond to a request for comment. The shares jumped on the news and were up 4.2% to $10.56 at 2:28 p.m. in New York.

Paramount, which owns CBS, MTV and other networks, had also previously received an offer from media mogul Byron Allen, who put together a $3.5 billion bid last year for both BET and the VH1 channel, and emphasized that BET should be Black-owned. Actor and filmmaker Tyler Perry, who is an investor in the BET+ streaming service, also held discussions about purchasing a stake in the larger enterprise.

The sale process last year was “disrespectful,” Perry said at a Bloomberg event last year. “Don’t try to get me to pay for something that’s not worth anywhere near the value” Paramount said it was, he said at the time.

Founded in 1980 by businessman Robert L. Johnson, BET was sold to Paramount’s predecessor, Viacom, in 2001 for about $3 billion. The network has strong ties to some of the most successful Black entertainment creators, including Perry, Kenya Barris and Rashida Jones, who are investors in the BET Studios production company.

Paramount has said it’s working to cut $500 million in costs to boost profitability. 

Barry Diller's IAC Is Exploring A Bid To Take Control of Paramount Global

Media mogul Barry Diller is taking a look at acquiring National Amusements Inc., the company owned by Shari Redstone and the controlling shareholder of Paramount, CNBC reported on Tuesday.

Diller's IAC, an internet media and publishing company, has signed a nondisclosure agreement and is looking in the data room of National Amusements, Faber said Tuesday. IAC could make a decision in the near term to place a bid on National Amusements, which would give it a controlling stake in Paramount, he said, citing sources.

These discussions come weeks after National Amusements stopped talks with Skydance on a proposed merger with Paramount.

Following months of deal talks with a consortium that included David Ellison's Skydance and private equity firms RedBird Capital and KKR, the deal was called off as it awaited signoff from Redstone. National Amusements, which Redstone controls, holds 77% of class A Paramount shares.

Prior to calling off the proposed merger, National Amusements had agreed to financial terms of the deal. The proposed deal would have seen Redstone receive $2 billion for National Amusements, with Skydance buying out nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion. Skydance and RedBird had also agreed to contribute $1.5 billion in cash to Paramount's balance sheet to help reduce debt.

Terms of IAC's potential bid are unknown, but it would likely have to be more than $2 billion, Faber reported Tuesday. The New York Times first reported Diller's interest in Paramount.

While Diller, 82, is currently the chairman of IAC and Expedia, he has a long track record in the media industry, including serving as chairman and CEO of Paramount Pictures in the 1970s and 1980s. He followed Paramount with his post at the head of 20th Century Fox, where he greenlit Fox network programs including "The Simpsons."

Diller has been vocal about the need for legacy media companies such as Paramount to give up on chasing Netflix in the streaming wars and focus on their broadcast and pay-TV networks.

During the Hollywood strikes last summer, he said that despite cord cutting, traditional pay-TV is still profitable — unlike most streaming businesses. He called on legacy media to build up traditional networks again.

Diller tried to acquire Paramount Pictures in the 1990s, but went toe-to-toe with Sumner Redstone, the father of Shari Redstone, who now controls the company.

Since then, Paramount has changed and grown in various ways. The company now comprises the movie studio, as well as the CBS broadcast network, a portfolio of cable TV networks such as MTV and BET plus streaming services Paramount+ and Pluto.

While other suitors have reportedly been interested in owning Paramount, the company has been focused on restructuring its business.

Now led by the so-called Office of the CEO — CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins — Paramount has concentrated on exploring streaming joint venture opportunities with other media companies, slashing $500 million in costs and divesting noncore assets.

Cartoon Network Africa Partners With E-Waste Recycling Authority To Tackle Growing E-Waste Challenge In South Africa

Cartoon Network Africa, the leading kids' TV channel in South Africa, is partnering with the local E-Waste Recycling Authority (ERA) as part of its Climate Champions initiative. The collaboration aims to educate and empower children about the increasing challenge of electronic waste.

 

As a registered Producer Responsibility Organisation (PRO), ERA is dedicated to improving e-waste recycling in South Africa and is a leader in electronic waste management. The organisation facilitates and implements the country’s regulations on the proper disposal and management of electronic waste, as laid out by South Africa’s Waste Electronic and Electrical Equipment (WEEE) Extended Producer Responsibility (EPR) Regulations, which came into effect in 2021.

 

The partnership comes at a crucial time as South Africa grapples with an escalating e-waste crisis. With only 10% of e-waste currently being recycled, it contributes to landfills quickly reaching capacity. E-waste is the fastest-growing waste stream, growing three times faster than general municipal solid waste.

 

A research survey undertaken by Cartoon Network found that 70% of children aged 6-11 across the EMEA region had not heard of e-waste or were aware but not sure / had no idea what it means. Results from the study show that:

• Majority of kids aged 6-11 yrs. Claim to have heard of e-waste, but in reality, few (30%) know what it means

• Kids in Poland (47%), Turkey (37%) and South Africa (28%) are more familiar with e-waste than peers in the UK (19%) and France (17 %)

• Polish kids (81 %) are notably more likely to link e-waste with the correct definition vs other markets; South Africa (33%), the UK (26%) & France (19%) under-index

• Most kids (87 %) have at least one e-waste item at home, with South Africa being above the index at 97%, with kids’ toys, headphones, and tablets among the top three items

• 64% of kids in South Africa say they store e-waste items at home or throw them away, highlighting the need for education

Through the partnership with ERA, Cartoon Network will use its beloved characters and engaging storytelling to teach children about e-waste, its problems, and how recycling can be a solution. The aim is to inspire children to become e-waste warriors, advocating for recycling in their homes and communities.

 

"Understanding what happens to rubbish is good to learn from childhood. Technology is such a big part of kids’ lives these days and it’s crucial that they understand the importance of recycling e-waste from a young age,” says Ashley du Plooy, CEO at ERA. “Electronics can have a second life - even broken toys with cables or batteries can be transformed into something new! That's because they often have valuable materials. Recycling them correctly also safeguards the environment for future generations."

 

By combining education with entertainment, Cartoon Network Africa and ERA hope to cultivate a generation of environmentally aware children who comprehend the significance of responsible e-waste management.

 

Cartoon Network Climate Champions’ new e-waste video content will air on the Cartoon Network channel and includes a ‘Guide to E-waste’ video that explains what e-waste is, why it’s an important issue and the basics of how we can help tackle it. Cartoon Network will also air e-waste promos, explaining issues around e-waste with a call to action on how kids can get involved in tackling it, and share weekly uploads to its social and YouTube channels to help broaden the reach and drive key e-waste messages home.

 

Monika Oomen, VP of Brand, Communications, and Digital Content Strategy for Kids EMEA at Warner Bros. Discovery, expressed, "In our efforts to engage kids into climate action, the partnership with ERA is a vital addition to our Cartoon Network Climate Champions campaign, by combining Cartoon Network's commitment to engaging storytelling with ERA's expertise in e-waste management, we can reach kids on a platform they love while empower them to become environmental champions.”

 

This comes as annual electronic waste generation is on track to reach a staggering 82 million tonnes globally per year by 2030, including items such as mobile phones, laptops, MP3 players, plugs, and batteries.

 

Cartoon Network’s Climate Champions initiative empowers and inspires young people to act and help the environment. Kids aged 6-12 can become Climate Champions by taking up daily challenges and making a world of difference together. Among the many e-waste challenges available are the ‘Device Rescue Mission,’ where children check their homes for old electronic devices that can be recycled, the ‘No Crossed Wires’ challenge, which involves taking care of chargers by preventing damage from wire tangles, and the ‘Phone Numbers!’ challenge, where kids count the number of mobile phones in their homes, including unused ones.

 

In addition to helping kids understand the extent of the e-waste problem, ERA has a comprehensive list of e-waste recycling drop-off points around the country. Living sustainably with technology means ensuring all ageing and failed electronic products are discarded using trusted e-waste recycling points that prevent the materials from ending in landfills.

For more information on how to become a Cartoon Network Climate Champion, you can visit the Climate Champions website or download the Climate Champions app and discover facts and trivia about e-waste, new quizzes, new voting cards, and new videos featuring real kids talking about the issue of electronic waste, and new e-waste challenges that can ‘Make a World of Difference.’

Paramount Global Is In Talks For A Streaming Merger

Paramount Global is currently in discussions with other entertainment companies about merging its Paramount+ streaming service with an existing platform. If successful, this could trigger a wave of similar partnerships across the media sector and strengthen the industry as a whole.

The leadership at Paramount Global is actively exploring potential structures for merging Paramount+ with another streaming entity, potentially leading to a co-owned platform. These discussions, which are private, involve various media and tech company executives.

Warner Bros Discovery Inc has shown interest in such a deal, which could strengthen both services by allowing them to better compete with Netflix Inc and Disney’s suite of platforms (Disney+, Hulu, and ESPN) for audience and future content.

Earlier this year, preliminary merger talks were held for a complete deal with Paramount Global, but these discussions did not progress.

Paramount Global is also considering a potential partnership with a technology platform, as revealed by the company's co-CEO Chris McCarthy at an employee town hall on June 25.

A merged streaming service could offer more diverse programming, reducing customer churn and potentially removing Paramount+ losses from Paramount Global’s balance sheet by introducing new ownership.

While the structure for a potential joint venture with Warner Bros. Discovery hasn't been discussed in detail, it is likely that ownership wouldn't be evenly split due to the current nature and finances of the streaming assets.

Max, Warner Bros. Discovery's direct-to-consumer business, boasts about 100 million global subscribers, with 52.7 million based in the U.S. Meanwhile, Paramount+ ended its first quarter with 71 million subscribers.

NBCUniversal, owned by Comcast Corp, has also shown interest in a joint venture with Paramount+. However, these discussions did not progress significantly.

Since late 2019, traditional media companies including Paramount Global, Disney, NBCUniversal, and Warner Bros. Discovery have all launched streaming services, resulting in billions of dollars in losses. The industry consensus suggests there are too many streaming services relative to the number of total paying customers.

If Paramount finalizes a joint venture with either Max or Peacock, it could put pressure on the remaining service to seek a similar deal.

Media companies are now focusing on better monetizing streaming content through bundles and partnerships. For example, Disney and Warner Bros. Discovery have recently become more willing to license some of their content to rival streaming services, such as Netflix, to better monetize shows that aren't adding a lot of new subscribers to their streaming services.