Viacom CEO Bob Bakish continued his aggressive reorganization of the media conglomerate on Wednesday, announcing that Brad Grey will leave as CEO of Paramount Pictures. In a mover that follows a reorganization of Viacom’s cable TV network group, Bakish on Wednesday announced that Brad Grey will leave Paramount Pictures after 12 years atop the Hollywood studio.
Category: Viacom
The New Power of “Yes”: Who Actually Has Greenlight Authority at the Movie Studios
Paramount re-evaluates Brad Grey’s influence as industry upheavals alter internal politics all over town and committees become the norm. Gripes one producer, “You used to know whom to appeal to – and now you’re not sure.”
Tech Investor Jackson to Drop Activism With New Fund
Eric Jackson, an outspoken investor whose barbs have targeted Apple Inc., Yahoo! Inc. and Viacom Inc., plans to turn his back on activism to start a new hedge fund. Jackson left as managing director at SpringOwl Asset Management LLC in December and plans to launch the as yet unnamed new fund in the middle of this year, he said.
Daily Dividend Report: ICE, ADM, MA, EMR, VIAB, CDW
Intercontinental Exchange announced board authorization of its first quarter 2017 dividend of $0.20 per share, up 18% from its $0.17 per share quarterly dividend in 2016. The first quarter dividend is payable on March 31, 2017 to shareholders of record as of March 16, 2017.
‘Split’ Tops Domestic Weekend Box Office for Third Time
Split took first place for the third straight weekend, grossing $14.6 million, slightly above analysts’ estimates . New release Rings from Viacom’s Paramount Pictures unit came in second place with $13 million, while carryover title A Dog’s Purpose from Universal finished third with revenue of $10.8 million, according to comScore data.
Super Bowl to Dwarf New Releases at Weekend Box Office
Theater traffic typically plunges on Super Bowl weekend and revenue from the top 10 films could total an “unexciting” $78 million this weekend, according to analysts at MKM Partners. Thriller Split from Comcast’s Universal Pictures unit should take first place at the domestic box office for the third straight weekend with revenue of $14 million, per the firm’s estimates.
5 Great Media Stocks for 2017
With the pay-TV landscape continuing to evolve in an over-the-top world, analysts are singling out their top media stocks ahead of the new year. The media and entertainment industry was turbulent in 2016, as the arena for over-the-top services became more crowded than ever and a number of mega-deals were announced or fizzled out.
Hollywood’s Chinese Growth Engine Stalls in 2016
After growing nearly fourfold in the past five years, ticket sales in China are set for only a slight increase this year, bad news for studio profit margins. China’s box office, the engine of growth and safety blanket for Hollywood’s biggest budget films, is starting to show signs of age.
CBS Swallows AMC Networks, Viacom Unloads Paramount and More 2017 Media Predictions
As 2017 comes into view, we offer some media industry predictions at a time when content companies and pay-TV operators are playing musical chairs, hoping not to be left behind. When making predictions, it’s generally safe to say the future is uncertain and change is coming.