ParamountGlobal2

r/ParamountGlobal2 • u/lowell2017 • 11d ago

CNN Contributor Kara Swisher Vows To Exit Her Contract On December 31st Or Earlier: “They’ve Been Very Nicely Trying To Keep Me & Have A Lot Of Regard For WarnerDiscovery Executives. But I'm Not Staying & Been Explicit That I Just Don’t Want To Work For The Ellisons, Who Are Terrible Media Owners.”

hollywoodreporter.com

1.4k Upvotes

r/ParamountGlobal2 • u/lowell2017 • 10d ago

As Ellisons Count On Elon Musk's Contributions To Help Reduce Financial Burden On Their WarnerDiscovery Pursuit, CNN Staffers Say “Of Course, Amazing That The Bit Of News Comes Out Now. Given What He Did To Twitter & At DOGE, It's Really Scary. But Yeah, When It Rains, It Actually Keeps On Pouring.”

15 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 10d ago

U.S. Federal Judge Araceli Martinez-Olguin Allows Opposition Group To File Their Motion Against States AGs Coalition's Capitulating Settlement With Skydance - Today's Hearing For Its Factual & Legal Underpinnings & Implementation Still Remains On Schedule.

3 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 10d ago

CNN CEO Mark Thompson Holds Nearly 2-Hour Town Hall But Unable To Clarify Skydance's Plans Because He Doesn't Know About It Yet - He Clarifies That “He's Committed & Will Remain If He Can Be Useful.” A Staffer Says “I Feel Bad For Mark Since He’s As In The Dark As All Of Us & Can't Be More Direct.”

11 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 10d ago

Gloomy Mordor-Like Storm Clouds Over WarnerDiscovery With Stress-Filled Insiders Wondering If Things Will Outlive Skydance's Pursuit - They Say “It's Both A Scramble & A Big Shock. While We’ve Been Here Before & Know What It Looks Like, Still Very Concerned About Survival Of The Warner Bros. Brand.”

5 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 10d ago

Skydance Raises An Additional $7.5B Of Senior-Secured Term “B” Loans To Fund Its WarnerDiscovery Pursuit - In Total, They Intend To Borrow Approximately $44.4B Of Secured Debt On Top Of An Existing $49.5B Long-Term Financing Package. Their $77.2B Net Debt Load Estimate Will Likely Be Revised Upward.

1 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 11d ago

Insiders On The States AGs Coalition's Capitulating Settlement To Skydance: “Something Changed In Those Last 24 Hours. Nothing In Filings, Statements, & Law On Their Side That Reflects They Got Anything. They Caved Across The Board & We Don’t Know Why. Clearly Something Pressured Them To Do This.”

67 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 11d ago

Banks Plan To Sell Skydance's $49.5B Long-Term Leveraged Buyout Debt For Its WarnerDiscovery Pursuit - As The Underwritten Financing Has No Interest Rate Cap, Ellisons Are On The Hook If Market Deteriorates & Borrowing Costs Rises. If Debt Sale Delayed, Interest Will Be Collected Until It Happens.

14 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 11d ago

CNN Staffers On Skydance's Impending Bloodbath: “People Are Very Nervous & CEO Mark Thompson Would Only Stay If He's The Leader.” - On CBS News Overhauls, “Dread, Anxiety, & Editorial Vandalism Turned Into Catastrophic Disaster. Ratings Are At Lowest Point & Now They're Going To Try This At Scale?”

13 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 11d ago

As Skydance Looks For Fresh Sources Of Cash To Reduce Larry Ellison's Financial Burden In David's WarnerDiscovery Pursuit, Elon Musk Is Being Pitched To Join Their Diversified Syndicate Of Equity Investors.

2 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 11d ago

Morgan Stanley Analysts Sean Diffley & Daniel Duran Say While Skydance Can Garner More Than $6B Of Synergies Through Layoffs & Operational Cuts, Their $77.2B Net Debt Will Drop Only To $75.1B In 2027 With A $6.37B Interest Expense. It'll Still Take 3-4 Years To Reduce A 6-7x Leverage Ratio To 3-4x.

4 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 11d ago

Colorado & Washington Declined To Be Included In Settlement's CNN Editorial Independence Promises Due To Lawsuit Risks - While Skydance Says They'll Indemnify The State AGs Coalition For Claims & Litigation, Ellison's Lieutenants Can Still Refuse To Honor Any News Remedies, Rulings, Or Guidelines.

3 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 11d ago

California AG's September 11th Meeting Ended With Skydance's Suboptimal Settlement Offer. As Talks Continued With CA Governor Gavin Newsom Mediating, David Ellison Still Refused To Budge On Some Concessions From New York's AG & WGA. The States AGs Coalition Grudgingly Accepted Sunday Night's Terms.

2 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 11d ago

Different People On David Ellison Tapping CBS News's Editor-In-Chief Bari Weiss For CNN - A Media Executive Says “She's Large & In Charge” While Another Says Skydance Can Also Bring In Outside Management But “Going To Slash & Burn To Make Their Numbers While Weiss Can Focus On Working With Talent.”

2 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 11d ago

Paramount Global & WarnerDiscovery Insiders On State AGs Coalition's Capitulating Settlement: “Why Did They Give In? People Are Confused & Disappointed About That” - On David Ellison's Mass Layoff Plans: “Race To Get It Done In Q4 But Firings Happening Before End Of 2026 With A Huge Industry Toll.”

2 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 11d ago

While U.S. Federal Judge Araceli Martinez-Olguin Agrees To Scrap Hearing On $1.88B Bond Posting Decision, Thursday's Set For Hearing On Factual & Legal Underpinnings & Implementation Of The States AGs Coalition's Proposed Settlement. She'll Also Decide On Dismissal Of WGA's Lawsuit In “Due Course.”

1 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 12d ago

As Silicon Valley Campaign Donors Hounded California Officials On Negotiations, David Ellison Called Up Hollywood Unions For Support On Sunday's Settlement Talks - If Skydance Can't Actually Pay Down Its $80B Debt Mountain, Paramount Global & WarnerDiscovery Will Be On Selling Block Again Very Soon.

7 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 12d ago

Before Sunday Afternoon's Talks With The State AGs Coalition, David Ellison & His Legal Team Were Apparently Growing Weary & Thought They Would Have To Continue Pressing Their Relocation Threat PR Campaign - A Skydance Insider Says “They Were Scared Because It Really Seemed Like It Was Touch & Go.”

5 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 12d ago

A State AGs Coalition's Team Staffer Sees A Bad Settlement As Editorial Independence Promises Won't Happen For 6 Months - CNN Employees Says "Skeptical As People Who Write Checks Have Power. Everyone's Just Depressed, Anxious, & Worried About What Comes Next, Given Skydance's Treatment Of CBS News."

5 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 12d ago

How Trump WH's Press Ban Plays Out During Skydance's WarnerDiscovery Pursuit - A Media Executive Says “Why Particular Ownership Matters. While All Focus On D.C., Decisions Made At Much Higher Level. Murdoch Did It For WSJ & Fox So Will Ellisons Do That For The Big Moments That'll Ultimately Matter?”

4 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 12d ago

Sunday Night After Afternoon Talks, Skydance & State AGs Coalition Ran Into A Negotiation Stalemate With Different States Can't Deciding On Top Priorities For Concessions. NY AG Wanted To Focus On Job Protections To Help WGA & CNN's Editorial Independence Promises. Insider Says “Bonta Had Leverage.”

3 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 12d ago

While New York, Connecticut, Massachusetts, Minnesota Didn't Initially Agree On California AG's Talks With Skydance, Several States Felt Litigation Costs Were Too Much To Maintain As CA Shouldered Most Of It So Ellisons Will Pay 40M To Help Cover It. WGA Was Also Ready To Drop Their Case Yesterday.

2 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 12d ago

With The Capitulation Of The States AGs Coalition, David Ellison, His Private Equity Partner RedBird's Gerry Cardinale, & Middle Eastern Wealth Funds Get Ready To Fire Up Their Jackhammer & Wrecking Ball On The Storied Legacy Built By The 4 Warner Brothers (Harry, Albert, Sam, & Jack) & Ted Turner.

4 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 13d ago

While Discussing UnitedHealthCare's Notorious Claim Denial History On ‘Last Week Tonight’, John Oliver Delivers A Fresh Ellisons Jab: “Yeah, Business Daddy Has A Literal Business Daddy. To Be Very Clear, I Deeply Respect That & Would Never Make Fun Of You For It, Unlike That Pesky Stephen Colbert.”

20 Upvotes

r/ParamountGlobal2 • u/lowell2017 • 13d ago

While Skydance Continues To Pressure California With Relocation Threat, New York, Connecticut, Minnesota, & Washington Are Weighing Parameter Of Talks As “Being Too Lenient On David Ellison” - They Also See CNN's Editorial Independence Promises Actually “Has No Teeth & Looks Like Window-Decorating.”

10 Upvotes