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Paramount Global board members to resign amid merger talks

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Four members of Paramount Global’s board are anticipated to step down soon as the entertainment conglomerate, overseen by Shari Redstone, engages in discussions regarding a potential merger with Skydance Media.

The individuals expected to resign include former Spotify executive Dawn Ostroff, former Sony Entertainment president Nicole Seligman, Redstone attorney Rob Klieger, and investment banker Frederick Terrell.

According to sources familiar with the matter cited by the report, their departure from the board is expected to occur within the next few weeks.

Paramount declined to comment on the matter, while Klieger did not immediately respond to Reuters’ request for comment. Efforts to reach the other three directors were unsuccessful.

Following this news, shares of Paramount Global experienced a decline of nearly 4%.

Merger talks

Earlier this month, a Reuters source revealed that Paramount’s board had reached an agreement to engage in exclusive merger discussions with Skydance Media, led by CEO David Ellison, the son of Oracle co-founder Larry Ellison. A potential merger between Paramount and Skydance Media would unite Paramount with Ellison’s independent media company, known for producing blockbuster films such as “Top Gun: Maverick” and “Mission: Impossible – Dead Reckoning Part One.”

Seligman, Terrell, and Ostroff are part of a special committee of independent directors tasked with securing the most favorable deal for Paramount, whether it involves Skydance or another potential suitor, as reported by the Journal.

The report further mentioned that at least one of the departing directors had expressed reservations regarding the potential merger with Skydance.

The proposed deal structure has faced criticism from certain investors, who have raised concerns in letters to the board regarding the potential dilution of Paramount’s non-voting shareholders, according to the Journal.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Google’s AI-powered search engine goes wild

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Google’s AI-powered search engine has been suggesting unconventional combinations, leaving users bewildered and even concerned at the results.

Users have taken to social media platforms to express their astonishment and amusement at the unusual search results.

Dr Karen Sutherland from UniSC joins to discuss. #featured #trending

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Tim Cook eyes a worthy successor to the Apple empire

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As Apple CEO Tim Cook’s tenure at the company enters its later years, speculation swirls regarding who will succeed the tech giant’s iconic leader.

On this episode of Ahron & Mike Live – Canva makes a break for Broadway, AI has been likened to a ‘demigod’, astronomers develop new tech to counter asteroids and has Apple found its next successor? #featured

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Netflix CEO is confident AI will not replace writers

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Netflix CEO Ted Sarandos reassured writers that artificial intelligence won’t replace them or jeopardize their jobs.

While acknowledging AI’s role in content recommendation and production efficiency, Sarandos emphasised the importance of human creativity in crafting compelling narratives.

Tom Finnigan from Talkingbrands.ai joins to discuss.

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