JOURNAL ARTICLE

Edgar Bronfman's Paramount Plans Include Partnership With Big Tech.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Palmeri, Christopher 3 of 3

Abstract

Edgar Bronfman Jr. is considering partnering with a technology giant like Amazon or Apple to enhance Paramount Global's streaming-TV business. He believes that legacy media companies have not effectively adapted to the streaming market and thinks Paramount needs expertise in customer acquisition and ad sales. Paramount's streaming-TV business earned $26 million in the last quarter, with 68 million subscribers on Paramount+. Bronfman is also interested in finding a company to help license Paramount's brands for consumer products. He has submitted a $6 billion bid to acquire control of Paramount and is competing with independent film producer David Ellison. The final decision will be made by a special committee of Paramount's board on August 28. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/08, pN.PAG
  • Document Type:Article
  • Subject Area:Biography
  • Publication Date:2024
  • Accession Number:179243901
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