Bet Networks is no longer bought from third -party buyers.
David Ellison, CEO of the studio, which he acquired last week, said reporters said that Wette and his content franchise company would be an integral part of the streaming strategy of the new regime. Ellison said the plan was to do the company intact with its assets – in contrast to the series of wealth sales that Paramount Global and its predecessors have achieved in recent years. Bet in particular had been bought to a number of potential buyers in private equity and prominent black investors and stars such as Tyler Perry.
Ellison said the concept of holding together Paramount pictures, CBS and other assets was an important point of his earliest discussions last year about buying the studio with the former global chairman of Paramount and the majority shareholder Shari Redstone.
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“When we had the first meeting, we actually had this conversation with Shari.
“We think that the cable network is not so decreasing linear assets that we need to turn them or deal with somehow. We are thinking about the brands that we have to redefine,” said Ellison. “Nickelodeon is also one of them. Fids and family are so important for the world that we do the right thing for Nick and this entire squad of the content is also of crucial importance for us.”
Overall, Ellison and his top lieutenants have outlined a roadmap for the priorities of the new Paramount Skydance Taeam, which include increasing investments in Paramount Pictures Studio, CBS and Paramount+ Streaming platform. Jeff Shell, President of Ellison and Paramount, repeated that the plan is to consolidate the most important streaming assets of the company paramount+ and free ad asshained platform pluto TV-in to save operating costs and make Pluto TV a better driver for subscription for paramount+.
At the meeting, the Chief Strategy Officer and Chief Operating Officer from Ellison and Shell competed. George Cheeks, chairwoman of the TV media; Dana Goldberg, co-chair of Paramount Pictures and Chairman of Paramount Television; Josh Greenstein, co-chair of Paramount images and deputy chairman of platforms; and Cindy Holland, chairwoman of Direct-to-Consumer.
Asked point empty when the programming budget for Paramount+ is increased to make the service with larger competitors such as Disney+ and HBO Max competitive, said Ellison yes. Cindy Holland, the Netflix Alum, who heads streaming operations for the new Paramount, was also dull when she was asked if she was commissioned to hire films from the sibling studio. “For me, there is no priority for me,” she said.
Gerry Cardinale, head of Redbird Capital, who also played a major role in financing the 8 -billion dollar transaction, offered a extensive view of a team that was ready to improve the aging infrastructure of Paramount. Cardinale complements Ellison for an experienced managing director and also had the creative ambition, a film studio, a Big Three Broadcast Network and more.
“I put my company on this deal in my career. That should tell you one thing: we come, we will invest and we will really be refined. This is not other people,” said Cardinale. He even suggested that the Paramount Shaders jump -Thos would not only change corporate culture on Paramount and CBS, but would also influence the broader industry.
The new regime is thinking about “how we build culture, not only for Paramount, but for Hollywood,” said Cardinale. “I couldn't be more excited. Yes, we will invest a lot of money and we will show the great return for this investment.”
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