Suitors are wooing Paramount
The drama highlights the parlous state of the entertainment industry
From “GREASE” to “Breakfast at Tiffany’s”, Paramount Pictures has produced plenty of good romances during its 112-year history. Now the Hollywood studio is itself the subject of a courtship drama involving streaming rivals, private-equity buccaneers, a billionaire’s son and the owner of the Weather Channel. The wooing of Paramount Global, the studio’s parent company, has begun because Shari Redstone, president of National Amusements, which has a controlling stake in the firm, appears ready to sell. The battle to buy Paramount from the Redstones marks the fading of a Hollywood dynasty—and shows the sorry state of the entertainment industry.
This article appeared in the Business section of the print edition under the headline “Paramount’s paramours”
Business February 17th 2024
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