| CEO DISCUSSES 'BUY VS. BUILD' STRATEGIES, GROWING TV & FILM OUTPUTS, WHY UFC IS A "UNICORN" FOR PARAMOUNT+ |
Paramount's third-quarter revenue fell shy of Wall Street analysts’ consensus forecast, but the company upped its target for cost savings from the Skydance merger.
Revenue for the period from July to September totaled $6.7 billion, flat on a pro forma basis, while analysts were expecting $7 billion.
CEO David Ellison refused to comment amid ongoing merger speculation around Warner Bros. Discovery.
“I think it’s important to note that we really look at this as ‘buy versus build’ and we absolutely have the ability to build,” said Ellison, in content, in streaming, in long-term cash flow generation. That said, “we are fortunate that we have the balance sheet to be able to be opportunistic when we think M&A will accelerate our goals."
Speaking of that balance sheet, Paramount brass said about 600 employees chose to take a severance package as the company instituted a five-day-a-week return to office mandate starting in January.
While the company is laying off 2,000 workers and upped its cost savings projection from the Skydance deal to $3 billion from $2 billion, Ellison said his focus is on growth, not retrenchment.
“We anticipate a significant expansion of our total television studio output over the coming years, encompassing titles to be distributed both on our own platforms and licensed to third-parties,” the top exec said.
Paramount also announced that its theatrical release slate is growing to at least 15 movies for 2026. Currently, there are nine dated in Comscore. Paramount Co-Chair Josh Greenstein emphasized that the ultimate goal down the road is 20 movies annually. >>>Par+ Set To Raise Prices |
Deadline Exclusives & Originals |
Conservative Coup At The BBC? - There is a deep sense of shock at the BBC over the events of Sunday and Monday, but also of anger. “Bewildered fury,” is how one insider described the mood following the resignation of director general Tim Davie and BBC News CEO Deborah Turness. For some, that rage appears to be driven by a sense of injustice that the UK national broadcaster has been the victim of a right-wing plot. >>> Key Figure
BBC DG Runners & Riders - While the resignations of Tim Davie and Deborah Turness came out of the blue on Sunday, thoughts have immediately turned to who will succeed Davie in what remains undoubtedly the biggest job in British broadcasting. Given the scale of the uncertainty surrounding the loss of two key execs, the BBC board will need to act quickly to install someone who can lead the corporation into charter renewal talks with the government. >>> The Possibilities Renner Raises Voice - Actor Jeremy Renner is vowing to sue a documentary filmmaker for “multi-millions” over what the Hawkeye star claims is the unauthorized use of his voice in an AI-created film. Director Yi Zhou claims that Renner fully agreed in writing to participate in the AI-animated Stardust Futures: Stars and Scars. >>>Cease-and-Desist Letter
Building 'Cocaine Empire' - Entertainment A.R.E.U. principal and former Tyler Perry Studios president Ozzie Areu has secured funding for his planned adaptations of The Last Kilo: Willy Falcon and the Cocaine Empire that Seduced America. Stepping up is FilmHedge founder/CEO Jon Gosier, who’ll fund to the tune of $50 million planned adaptations of the story of infamous Cuban drug kingpin Willy Falcon. >>> Film, TV, Docuseries & Podcast
'Killer' Decision - Aaron Zelman (Lucky Hank) and Glenn Kessler (Damages) have been named new co-showrunners of Fox's upcoming Memory of a Killer starring Patrick Dempsey, which received a straight-to-series order in May. They replace in the role the project’s developers, British writers Ed Whitmore and Tracey Malone, and New Amsterdam creator David Schulner. >>>6 Episodes In
Contenders Film: L.A. Lineup Set - Deadline's exclusive movie-awards-season showcase for voting guild members that this year takes place Saturday, November 15 will include discussions with Christy‘s Sydney Sweeney, Hedda's Tessa Thompson, Sinners' Ryan Coogler and many more. >>>Full List
In Brief - Ashley Greene, Russell Quinn, Elizabeth Tabish leading faith-based One in a Million... Apple Original Films acquires J S Mayank & David Carlyle’s manuscript Fallen Astronaut |
Ron Howard and Brian Grazer are celebrating the 40the anniversary of their Imagine Entertainment, which the pair founded in November 1985. They join Deadline for a special edition of our video series Behind the Lens. Among the wide range of topics is the secret to surviving and thriving in a business that seems to change every week. Theirs is a marriage longer than almost any other in Hollywood. >>>Watch |
exclusiveDan Fogelman is recruiting another This Is Us alum for his upcoming Hulu football drama. Omar Epps is set to recur on the untitled series, whose cast, led by Christopher Meloni, includes This Is Us star Mandy Moore.
Oscar winner Nicole Kidman has joined Osgood Perkins’ The Young People alongside previously-announced stars Lola Tung and Nico Parker.
exclusiveElsa Pataky is among several new additions to The Mark, the forthcoming spy thriller from director Justin Chadwick (Mandela: Long Walk to Freedom). Others include Mark Coles Smith, Jessica McNamee and Rena Owen.
In Brief - Euphoria S3 casts Jeff Wahlberg in recurring role... Mia McKenna-Bruce, Charly Clive & Herbert Nordrum join Everybody Wants to F*ck Me |
MORE NEWS
📺 Amazon says the advertising reach of Prime Video is now 315 million monthly viewers, up from 200 million in April 2024.
🏛️ The Senate on Monday passed legislation to end the government shutdown, the longest in history, as eight Democrats joined with Republicans to fund the government through January. The bill, which passed 60-40, next will go to the House, which could take it up on Wednesday.
🖥️ Netflix is inviting a whole new generation to Hillman College, as the streamer officially orders the A Different World continuation to series. The single-camera comedy will have 10 half-hour episodes. Felicia Pride (Grey’s Anatomy, Bel-Air) will serve as showrunner and executive producer. |
BY THE NUMBERS $93M - Sony Pictures' Q2 profit |
OBITUARIES
🕯️ Actress Sally Kirkland passed away overnight on Tuesday after entering a Palm Springs hospice following a period of ill health. She was 84. Known for her Oscar-nominated turn in 1987 indie Anna, Kirkland appeared in over 250 films and TV shows throughout her career. 🕯️ Japanese actor Tatsuya Nakadai, who was best known internationally for his role in Akiro Kurosawa’s 1985 epic Ran , died in Tokyo on November 8 at the age of 92. 🕯️ Iranian architect turned actor Homayoun Ershadi, who had roles in such films as Cannes Palme d’Or winner The Taste of Cherry and Marc Forster’s The Kite Runner, died today after a battle with cancer. He was 78. 🕯️ 2025 Deaths Photo Gallery |
ON THE RADAR
Wed - Netflix House opens in PA
Thu - Disney earnings
Fri - BravoCon begins
Sat - Deadline Contenders Film; Glen Powell hosts SNL
Sun - Landman S2 drops |
'Good' Vibes - Cynthia Erivo and Ariana Grande attend the Wicked: For Good European premiere at Cineworld London Leicester Square. |
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