The media company, which aims to cut more than $2 billion in costs, is offering severance for those who don't want to return full-time.
Federal Communications Commission Chairman Brendan Carr defended the agency's review approving Skydance Media's acquisition of Paramount Global as routine and in the public interest.
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Since it began trading under its new name on August 7, shares of Paramount Skydance NASDAQ: PSKY have put on an impressive showing. As of the August 18 close, shares are up 15%.
Paramount Resources completed its processing plant ahead of schedule. The company is positioned to flexibly shift between highly profitable dry and rich gas production. Paramount is targeting roughly 50,000 BOED production by early next fiscal year.
"It's going to be a bloodbath," a source with knowledge said. "It's going to be ugly.
Paramount's stock has climbed more than 50% this year on the back of its merger with Skydance.
The Duffer Brothers signed an exclusive four-year agreement with Paramount Skydance for feature films, television and streaming projects. The creative team of Matt and Ross Duffer is best known for creating Netflix's "Stranger Things.
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Gabelli's GAMCO alleged that Redstone's investment vehicle, National Amusements, received $60 for each of its Class A Paramount shares while public shareholders only received $23.
Shares, which trade under the ticker PSKY, may have experienced a short squeeze this week.
Paramount Global unveiled plans on Wednesday to retain and develop its stalwart entertainment brands Nickelodeon, MTV, and BET, while sharply increasing feature film production following its $8.4 billion merger with Skydance Media.