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Paramount Executives Could Be Exploring Selling Off Parts of the Media Company
Last week, the media company filed an 8-K form with the U.S. Securities Exchange Commission that said top executives like CEO Bob Bakish, CFO Naveen Chopra, and executive vice president Christa D’Alimonte could get severance if they’re let go within two years “following the consummation of a change in control.”
On Monday, the Professional Fighters League (PFL) completed its purchase of Paramount’s Mixed Martial Arts company, Bellator. The deal was announced after Paramount said it was shuttering its Showtime sports division at the end of the year.
This year, “significant buyer interest” has seen Paramount’s stock to climb, according to Yahoo!Finance. Due to its smaller size, Paramount has historically been viewed as a potential acquisition target.
Paramount, like a majority of streaming services, has been struggling over the last few years. The loss of high viewership amid the pandemic in 2020, rising inflation rates, and increasing competition from other streamers has forced media companies to pare down workforce numbers, anticipate financial losses, and raise service prices.
The media company has taken a number of steps to keep itself afloat including relieving itself of “non-core assets.” For example, Paramount completed its sale of publishing company Simon & Schuster to investment firm Kohlberg Kravis Roberts last month. Rumors also suggest Showtime and BET Media Group could be for sale in the future.
Last month — before the actors strike resolved — Bakish said Paramount would continue to license content beyond its own channels, Advanced Television reported. As an example, Paramount unveiled a multi-year deal with Greek pay-TV service Cosmote TV.
Bakish said content licensing provides “a robust supply of content from diverse creatives to entertain consumers” and anticipates that Paramount will begin to recoup streaming losses next year.
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The Fog Of Courage | Courage The Cowardly Dog | Cartoon Network
When Courage finds a mysterious amulet while digging through the yard, a Ghostly Fog covers the farm. Eustace, however, refuses to return the amulet that apparently belongs to the Fog Ghost's long lost love, Cariana. Now Courage must protect his family from the vengeful fog spirit.
Rude Removal | Dexter's Laboratory | Cartoon Network
"Rude Removal" is a cartoon episode originally produced in 1997 for the animated television series Dexter's Laboratory for Cartoon Network. It was intended to air as part of the second season, but was left unaired due to the characters swearing even though the swear words were censored.
