ViacomCBS CEO Bob Bakish said the company now anticipates 100 million streaming subscribers in 2024 - well above a previous forecast of 65M-75M, after record ads in the fourth quarter and ami Walt Disney Co. llana dijous la versi del seu servei amb publicitat Redstone controlled about 80% of the voting stock of Viacom and CBS through his private holding company, National Amusements. Tom Ryan, for example, oversees global streaming, with executiveslike Paramount+ international chief Marco Nobili and Pluto TV international head Olivier Jollet reporting into Ryan and Kaufman. He has net worth is estimated to be $21.5 Million dollars. He pointed to CBS season 2 of the BBC remake Ghosts. However, engagement and retention require a programming mix inclusive of international originals [Paramount+ this summer set the goal of commissioning 150 international originals by 2025], such as The Envoys, regionalized versions of hit series, such as The Challenge: War of Worlds, and local live events and sports, such as the MTV EMAs and UEFA soccer matches. If a series is working outside the U.S., whether its from the U.K., Australia orMexico, it has the ability to travel.. Shari called the allegations "baseless.". Expansion Despite Macroeconomic Impact: I'm Not Going To Risk A Strategy That Was Fundamentally Working', Layoffs Loom As Paramount Preps For Consolidation Of Showtime Networks And Paramount+, Paramount Shares Fall After Q3 Profit Slump. In free-to-air TV, the new approach required a big change though. ", On May 9, 2016, the judge dismissed the lawsuit after the billionaire asserted in videotaped testimony that he didn't want the former girlfriend, Manuela Herzer, to play any role in his life. He later became the center of a jilted lover's lawsuit that nearly cost his family his financial legacy. He has been President and CEO of Paramount Global since December 4, 2019, formerly holding the same position at Viacom before the merger with CBS Corporation. "I am determined to act in the best interests of the company and all of its shareholders. One former mainstay attendee who will not be part of the festivities is former CBS chief Les Moonves who was ousted from the company in 2018 amid sexual harassment allegations. We want to hear from you. Both companies came to an agreement on the management team for the merger, with Bob Bakish serving as CEO of the combined company with president and acting CEO of CBS, Joseph Ianniello, overseeing CBS-branded assets. Two months later, Dauman agreed to step down as Viacom executive chairman as part of a reported $72 million settlement. Robert Marc Bakish ( / bk / BACK-ish; [1] born December 14, 1963) is an American business executive. Later, in May 2016, Sumner fired Dauman from the seven-member trust, and in June, he moved to push Dauman off the Viacom board. Watch live (UK only) (TVPlayer Plus subscription required) Comedy Central Extra is a European pay television channel that launched in the United Kingdom and Ireland in 2003, followed by the Netherlands in 2011 where it was available until 31 December 2022. Now, great content is great content, no matter where it originated, and international content is more popular than ever in the U.S. "ViacomCBS will remember Sumner for his unparalleled passion to win, his endless intellectual curiosity, and his complete dedication to the company. Despite the streaming division's profitability struggles, subscribers continued to surge with Paramount+ adding nearly 10 million in the quarter to reach a total of almost 56 million. Choisissez parmi des contenus premium de Selena Gomez With Bob de qualit. Deal talk already circulating at Sun Valley ranges from mega-media deals to smaller streaming takeovers. Sumner graduated from Harvard and served in Army intelligence during World War II, helping to break the Japanese code. This copy is for your personal, non-commercial use only. Redstone poses with Megan Fox at the 2014 LA premiere of "Teenage Mutant Ninja Turtles. With our new global approach, local hits can quickly be transformed into global hit franchises, allowing us to capitalize on our local content teams to serve as global development this new approach enables us to move faster, more efficiently and have a higher hit ratio, said Chris McCarthy, president/CEO of Paramount Media Networks & MTV Entertainment Studios. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. Paramount Global Getty. flashdance the musical script flashdance the musical script. But well look back at it two years from now, and itll be very cool., Sign up for THR news straight to your inbox every day. He previously worked as a partner with Booz Allen & Hamilton in its Media and Entertainment practice. That prompted a series of negative comments on ViacomCBSs internal chat feature, which allows staffers to post questions and responses to speakers in real time. But in late January 2016, Viacom said in a regulatory filing that Redstone's annual pay had been cut to $2 million in fiscal 2015, from $13 million the previous year. Under pressure from shareholders because of reports of Redstone's declining health and mental competency, the CBS board on Feb. 3, 2016, announced his resignation as executive chairman and appointed CEO Les Moonves as his successor. Amazon has been on the deal-making hunt as well recently with itsacquisition of MGM Studios for $8.5 billion. Now their CEO Bob Bakish sits down with Recode's Peter Kafka to talk about the company's future, and its bets on streaming.Featuring: Bob Bakish, CEO of ViacomCBSHost: Peter Kafka (@pkafka), Senior Editor at RecodeMore to explore: Subscribe for free to Recode Media, Peter Kafka, one of the media industry's most acclaimed reporters, talks to business titans . Bill Gates is also said to be on the list following a tumultuous year for the Microsoft founder including a divorce and rumored ties with the late disgraced financier, Jeffrey Epstein. They, in this case, includesPam Kaufman, president and CEO of international markets, global consumer products & experiences, andthe executives overseeing the companys big free-to-air TV networks in the U.S. (CBS), Australia (Network 10), the U.K. (Channel 5), Argentina (Telefe) and Chile (Chilevision), who spoke during a recent Bob Live, a regular series of internal Paramount events for employees that feature Bakish and other execs talking about their businesses. Suffering third-degree burns over 45% of his body, he underwent surgery after surgery to graft his living skin onto the wounded areas. Its holdings included Showtime and publisher Simon & Schuster. Bakish oversees one of the world's leading producers of media and en tertainment content, driven by a global portfolio of powerful consumer brands and flagship streaming platforms, including CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy . ", Bakish added "in 2022, Paramount Pictures had 6 films open at #1 in the U.S. box office and Paramount regained its position as the most-watched media family in linear television. The suit was settled in 2007 with Brent receiving $240 million while selling back his stake in National Amusements and relinquishing his board seat, according to Forbes. 'GREASE,' 'GODFATHER' TO RETURN ON PARAMOUNT+ AS VIACOMCBS MOUNTS STREAMING CHALLENGE. We are leveraging the power of one Paramount and our global footprint to broaden reach and fulfill our mission of entertaining the planet, said Ryan. ties with the late disgraced financier, Jeffrey Epstein. Posted on February 27, 2023 by how much is tim allen's car collection worth Meanwhile, Paramounts streaming revenue grew four times as fast as that of Powered and implemented by FactSet Digital Solutions. I didnt mean to offend anyone who has lost loved ones or lost friendswhat I meant was its a phenomenon thats impacted everyone around the globe, Bakish said. We saw it coming around the curve on that one, says Bakish, 58. We made some money. Written by on 27 febrero, 2023.Posted in fd150 phone line not connected.fd150 phone line not connected. It sought an order that he undergo a brain scan and other tests to determine whether he could still make decisions about himself and his estate. His thesis is the real opportunity is about piloting in the U.K. as a step towards a global franchise, not necessarily trying to launch a global franchise out of the gate, which has often proven difficult. Abaikan. Sumner Redstone died Tuesday at age 97, National Amusements said in a statement Wednesday. Were looking at global IP development, franchise expansion, production hubs and joint content acquisitions, to name just a few areas., Bakish lauded his leaders for being ready and eager to take such a global view. All rights reserved. had to sell a fifth of his family's stake. The Hollywood Reporter is a part of Penske Media Corporation. During the financial crisis in October 2008, Redstone had to sell a fifth of his family's stake in Viacom and CBS $400 million in nonvoting shares to cover National Amusements debts. The bad blood between ViacomCBS President and CEO Bob Bakish and investment bank Allen & Company continues. 2023 CNBC LLC. In 2007, News Corporation's Fox International Channels bought a 51% . Advertising revenue has also been a headwind with ad growth in the company's TV media division decreasing 7% year-over-year in the quarter amid lower impressions and an unfavorable impact from foreign exchange. Bakishlater that day was elevated from acting CEO to permanent CEO. The Paramount Veterans Network hosted a series of VIP Meet and Greets for the second year in a row during Summer 2022. This material may not be published, broadcast, rewritten, or redistributed. Quotes displayed in real-time or delayed by at least 15 minutes. Redstone also sparred several times with his daughter, then president of National Amusements and vice chairwoman of Viacom and CBS. Meanwhile, Cheeks runs the companys global broadcast operation,with Kyriacou overseeing the free-to-air networks outside the U.S., reporting into Cheeks and Kaufman. And that was a great business decision at the time. Get this delivered to your inbox, and more info about our products and services. Through a strategy to deepen and expand Viacoms presence in digital and live experiences, Bakish also stewarded the key acquisitions of free streaming television service Pluto TV; Gen-Z focused brand Awesomeness; influencer marketing firm WHOSAY; and VidCon, the worlds largest celebration of online video fans and creators. He and his wife Dee have two daughters together and they make their home in New York. Shari Redstone arrives for Variety's Power of Women luncheon in New York City, U.S., April 21, 2017. ViacomCBS has set Jan. 10 as the date it wants staffers to return to the office for 50% of the time. However, Paramount Global President and CEO Bob Bakish have since called the timing of the deal "unfortunate" due to the show's improved reception, viewership, and popularity in later seasons. ViacomCBS CEO Bob Bakish will discuss media censorship on Friday night's episode of 'Barron's Roundtable.'. Robert M. Bakish is President and Chief Executive Officer of Paramount Global. New York, NY 10027 It was international and local. All Rights Reserved. 2023 The Hollywood Reporter, LLC. (Silver Screen Collection/Getty Images). Remember I'm in control!". The resort area will for a week house more billionaires than possibly anywhere in the country. in Operations Research from Columbia's School of Engineering and Applied Science. The e-commerce giant's stock has been pretty stagnant over the past year, only posting 8% returns year-to-date. You plan for success., Bakish told THR that it would take a bit more time for this effort to bear full fruit though. But its an example of essentially piloting a show, making it for the U.K. and then upscaling it. In addition to MTV, the Viacom empire later included such TV properties as BET, Comedy Central and Nickelodeon. Following is the unofficial transcript of a CNBC exclusive interview with Paramount Global CEO Bob Bakish on CNBC's "Squawk on the Street" (M-F 9AM - 11AM ET) today, Wednesday, December 7 th. REUTERS/Brendan McDermid - RC145C2CC810, Investment bankers say Redstone will be shopping for deals at the conference including a possible Comcast merger, which would face significant antitrust hurdles since such a deal would have the companies combining rival broadcast networks CBS and NBC, the latter of which is owned by Comcast. Sign up for free newsletters and get more CNBC delivered to your inbox. "I hope Sumner lives to be 150," he said, according to the Los Angeles Times. Chris McCarthy leadsthe MTV brands and networks globally along with Showtime,with Kelly Bradshaw responsible for international markets. (No Ratings Yet) Legal Statement. thanks in part to strong gains in advertising. And even with more exceptional content coming this year, we expect to return . Columbia University in the City of New York, BS in OR: Engineering Management Systems (BSOR:EMS), BS in OR: Financial Engineering (BSOR:FE), Industrial Engineering and Operations Research. But he also underlined how the premium pay TV channel's brand is still very "valuable" to the overall company by revealing Paramount is planning to franchise out some Showtime IP in the new year. Abaikan. We are all working incredibly closely together to bring this unified, global strategy to life, said Kaufman. He's a family man. Sydney Holland, left, and Manuela Herzer at an LA awards luncheon, Oct. 26, 2013. A powerful franchise is like a beacon that draws in loyal and passionate audiences from around the world and can build brands and grow platforms globally, said Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon, as well as chief content officer, movies & kids & family at Paramount+. As part of the presentation, Bakish and other ViacomCBS executives yielded the stage to a taped bit in which Late Show host Stephen Colbert saluted essential workers. relinquished his position as Amazon CEO on Monday to Andy Jassy. Gates also stepped down from Microsofts board in March of 2020, Stock futures volatile as oil continues rise, Fitch, Moody's slash Russia's sovereign rating to junk, Russian oligarch Alisher Usmanovs $600M yacht seized in Germany: reports, Russia-Ukraine war: Russian oligarch Roman Abramovich set to sell Chelsea as pressure mounts, What you need to know about grants for graduate school, TransUnion to include buy now, pay later loans on credit reports, Private student loan rates tick up: Still well below January highs, Car insurance rates 'aren't skyrocketing' despite 4% annual inflation: report, 10-year mortgage refinance rates plummet below 3% | March 2, 2022. We caught up with Bakish at Mobile World Congress in Barcelona, where we discussed: "The group of trustees would have to make fiduciary decisions for the benefit of the trust and the companies it controls," Dauman told the conference. In 2006, Brent sued his father, alleging breach of fiduciary duties in connection with a buyback plan of National Amusements stock. In a subsequent court filing, Redstone's lawyers said he had revised his will in October 2015 to cut Herzer out of $70 million of his fortune, including his $20 million mansion. Redstone built his family's drive-in theater chain into a multibillion-dollar empire encompassing CBS and Viacom. In the 2012 interview with CNBC, Redstone said there was never a time he was ready to give up. He was also eligible for a cash bonus of up to $3.5 million for that latter role. Holland spent five years with Redstone, living at his Beverly Park, California, mansion until he kicked her out in 2015 after finding out she was involved in a relationship with a former actor, according to Vanity Fair. The 2021 event comes after a one-year hiatus due to theCOVID-19pandemic. Robert M. Bakish is President and Chief Executive Officer of Paramount. In 1979, Redstone nearly died in a fire at Boston's Copley Plaza hotel. ViacomCBS CEO: The notion of censoring media is a very bad idea, Discovery ultimately won the bidding war for the $12 billion takeove, Currently Federal Communications Commission rules. Born in 1964, Bob Bakish has been the CEO of Viacom since 1997. AndBrian Robbins oversees Paramount Pictures and Nickelodeon globally, in addition to all kids content across streaming, with Jules Borkent responsible for Nickelodeon in international markets. ViacomCBS Inc. (VIAC) Q3 2021 Earnings Conference Call November 4, 2021 08:30 AM ET Company Participants Anthony DiClemente - Executive Vice President, Investor Relations Bob Bakish -. It does come out of the U.K., so thats an example, even if it wasnt an in-house example, Bakish said. Shares of the streaming giant were down more than 1% as of early afternoon trading on Thursday. As streaming services featuring classic films have risen in recent years, many have grappled with the rapidly changing social mores of modern society. Viacom chairman Sumner Redstone in screening room at National Amusements. Mutual Fund and ETF data provided by Refinitiv Lipper. In their conversation, Bakish shared lessons from his long career as a top media executive, including his recipe for smart risk-taking, keys to innovative leadership, and how to foster a dynamic corporate culture that actively increases diversity, equity and inclusion. (Paramount Pictures/Sunset Boulevard/Corbis via Getty Images). Moreover, he would also be receiving a . Viacom in a regulatory filing on Wednesday detailed the compensation for new permanent CEO Bob Bakish. Paramount Global (PARA) reported its fiscal fourth-quarter earnings before the bell on Thursday, missing on both the top and bottom lines amidweak ad revenue and accelerated streaming losses. Abaikan. This copy is for your personal, non-commercial use only. This button displays the currently selected search type. In November, when he was named acting CEO,Bakish also got stock grants valued at $3.25 million. Under his leadership, VIMN more than doubled revenues and broadened its portfolio with new, broadly distributed pay-TV networks, including Spike and the Paramount Channel, as well as major broadcast networks Channel 5 in the U.K., Telefe in Argentina and Colors in India. 2023 FOX News Network, LLC. Again, the big caveat is whether this is what Iger means by "general entertainment" in the first place. He added that Paramount+ a value offering compared to other platforms won't maintain its $9.99 premium price point forever. How did he survive this trauma at age 55? And I do everything possible to bring that result about.". The bad blood between ViacomCBS President and CEO Bob Bakish and investment bank . In 2014, she rejected her father's $1 billion buyout offer for her 20% stake in National Amusements, the newspaper said. FAQ - New Privacy Policy, ViacomCBS CEO Bob Bakish will discuss media censorship on Friday night's episode of Barrons Roundtable.. Paramount Global is suddenly leading the way for Hollywood's heavyweights. Dauman's appointment as Redstone's successor as Viacom chairman was opposed by Shari Redstone, who had said in a statement that she wanted "a leader with an independent voice" rather than someone who was a trustee of her father's trust. He led the revitalization and evolution of Viacoms core businesses, returning the company to growth, and extending its leadership across multiplatform entertainment content, next-generation distribution and advertising. 1 box office hits in early 2022 (Sonic the Hedgehog 2, The Lost City, Scream, Jackass Forever) then soared into the stratosphere with Top Gun: Maverick, which grossed $1.5 billion worldwide. are prince william county schools closed on monday. Paramount Global CEO Bakish said Tuesday that while it "didn't make sense to run Showtime as a 100% stand-alone organization," he wanted "to make it clear that the [Showtime] brand still . Aside from finding a possible suitor for ViacomCBS, Lionsgate, the independent movie and TV studio, has long been said to be an acquisition target. Without Viacom, there would have been no Paramount. The Hollywood Reporter is a part of Penske Media Corporation. And frankly, if it is true, that Disney is getting out of broadly appealing fare, it gives Paramount+ . "Through it all, we shared a great love for one another and he was a wonderful father, grandfather and great-grandfather. "From an early age. Market data provided byFactset. Nine months after the spinoff, Redstone fired Freston, furious that the latter lost a bidding war for MySpace.com to Rupert Murdoch's News Corp., which paid $580 million for the then-dominant social network. Bezos, who relinquished his position as Amazon CEO on Monday to Andy Jassy. Hes one of several execs tasked with building out content for the media congloms new streaming service. "There's no question the crisis has proven the power of streaming, and we're moving quickly to seize on the significant revenue opportunity," ViacomCBS CEO Bob Bakish says Paramount Pictures, on the mend since studio head Jim Gianopulos took over in 2017, has taken a different approach to Hollywood's obsession with proprietary . ViacomCBS CEO Bob Bakish saw his pay increase slightly in 2020 to $38.9 million in 2020, according to an SEC filing on Friday. "These audiences and themes are complementary to the Paramount+ brand, which is much broader, appealing to the entire family and general market . (Five years later, she became chairwoman of the media empire.). On Dec. 16, Viacom said in a regulatory filing that chairman emeritus and controlling shareholder Sumner Redstone will leave the companys board as of its annual shareholder meeting in February. Bakish said when he was the companys international CEO he led Viacom International Media Networks from 2011 to 2016 the top leadership in the U.S. wasnt fully ready for a global approach to free-to-air, cable and streaming businesses. All Rights Reserved. Sign up for THR news straight to your inbox every day. Bakish is working on a plan to reinvigorate Viacom and its performance with a focus on Paramount Pictures, MTV in the U.S. and relationships with TV distributors in the U.S. Paramount Global CEO Bob Bakish reiterated Tuesday that Showtime is no longer capable of standing on its own within the company. Delayed by at least 15 minutes partner with Booz Allen & amp ; Hamilton its. That result about. `` he said, according to the Los times. Mega-Media deals to smaller streaming takeovers. `` company continues in Operations from! Of Penske Media Corporation Viacom in a row during Summer 2022 the second year in a fire Boston! Ceo, Bakish told THR that it would take a bit more time for this effort to full... Been pretty stagnant over the past year, only posting 8 % returns year-to-date for THR News straight to inbox. His family 's stake in the country School of Engineering and Applied.... Bring that result about. `` essentially piloting a show, making it for the second year in row! 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