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Paramount, Skydance enter exclusive merger talks



Paramount, the renowned entertainment conglomerate, has embarked on exclusive merger discussions with Skydance, a prominent production company led by David Ellison.

It thereby sidelined a substantial $26 billion bid from Apollo, sources familiar with the matter revealed.

  • Paramount enters exclusive merger talks with Skydance, sidelining Apollo’s $26 billion offer.

  • Skydance’s potential acquisition of Paramount could mark the end of Shari Redstone’s control over the media empire.

  • Paramount’s management excluded from decision-making as Skydance seeks approval for studio merger from an independent committee.

This decision effectively halts any ongoing negotiations with other potential bidders for a period of 30 days, signaling Paramount’s inclination towards striking a deal with Skydance over Apollo’s enticing offers.

Despite Apollo’s substantial bids, Paramount’s directors have opted to explore prospects with Skydance due to uncertainties surrounding Apollo’s financing arrangements.

Skydance’s potential acquisition of Paramount would signify a significant shift in control, potentially marking the end of Shari Redstone’s influence over her family’s media empire, Paramount Global.

Shari Redstone says she did not support a Viacom/CBS split | Reuters

National Amusements sale

Redstone, Paramount’s controlling shareholder, has been engaged in discussions with Ellison since late last year regarding the sale of National Amusements, her family’s media holding company, which commands a significant stake in Paramount.

While Redstone and Ellison have reached preliminary agreements, Skydance’s insistence on merging their studios necessitates a separate deal with Paramount, subject to approval by an independent committee of directors.

Paramount’s management, including CEO Bob Bakish, is reportedly excluded from the decision-making process.

The involvement of Ellison’s father, billionaire Larry Ellison, co-founder of Oracle, is anticipated to bolster Skydance’s financial capabilities in pursuing the merger.

Skydance, backed by investors such as RedBird Capital Partners, KKR, and Tencent, raised substantial capital in 2022, positioning it as a formidable player in the entertainment landscape.

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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AI tracks enigmatic cancers back to origins in new study



In a groundbreaking development, scientists have unveiled a remarkable AI tool that promises to revolutionise the detection and treatment of metastatic cancers.

These elusive cancers often evade detection until they have already spread to distant organs, posing a significant challenge for diagnosis and treatment. Published in Nature Medicine, the study showcases an AI model developed by researchers at Tianjin Medical University (TMU) in China, led by Tian Fei and Li Xiangchun. Trained on a vast dataset of 30,000 images from 21,000 individuals, the AI model demonstrated an unprecedented accuracy rate of 83% in identifying the origins of metastatic cancer cells found in fluid samples from abdominal or lung regions.

Impressively, the model’s top three predictions included the tumour’s source with a staggering 99% accuracy.

This breakthrough not only surpasses the capabilities of human pathologists but also offers a beacon of hope for the 300,000 people annually diagnosed with cancer at TMU-affiliated hospitals, where approximately 4,000 cases rely on such image-based diagnoses.

By significantly reducing the need for invasive tests and providing timely and accurate predictions, this AI tool could potentially extend the lives of late-stage cancer patients. Faisal Mahmood of Harvard Medical School praises the study’s findings, highlighting the potential of AI as an indispensable assistive tool in healthcare.

Looking ahead, the integration of AI with tissue samples and genomic data holds the promise of further enhancing outcomes for individuals battling metastatic cancers of unknown origins, ushering in a new era of precision medicine and personalised care.

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Surprising Netflix subscriber surge despite price hikes



Netflix Surpasses Expectations with 9.33 Million New Subscribers in Q1 2024

Netflix stunned analysts and the industry alike with its first-quarter 2024 earnings report, revealing a remarkable surge of 9.33 million paid subscribers, soaring past the anticipated 3.93 million additions and bringing its total subscriber count to an impressive 269.60 million.

This surge follows a record-breaking fourth quarter of 2023, where Netflix added 13.1 million subscribers. Despite this remarkable growth streak, Netflix announced it would cease reporting quarterly subscriber totals from 2025 onward, signalling a significant shift in industry dynamics. Notable contributors to this growth included high-profile releases like the live-action adaptation of “Avatar: The Last Airbender” and “3 Body Problem” by the show-runners behind “Game of Thrones.”

Regionally, the U.S. and Canada saw a growth of 2.53 million paid subscribers, while Europe, the Middle East, and Africa added 2.92 million, Latin America saw an increase of 1.72 million, and the Asia-Pacific market experienced a rise of 2.16 million.

Alongside surpassing subscriber expectations, Netflix exceeded financial projections, reporting a 15% increase in revenue from Q1 2023, with diluted earnings per share of $5.28 on $9.37 billion in revenue.

Looking ahead, Netflix forecasts robust financial performance for Q2, with expectations of $9.49 billion in revenue and diluted EPS of $4.68, aiming for revenue growth of 13% to 15% for the full year 2024, reflecting a bullish outlook on its operational margin.


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Why are Americans moving abroad?



Inflation and the rising cost of living in the United States is motivating Americans to consider moving to other countries.

Have you ever dreamed of working or retiring abroad?

Well, more and more Americans are discovering that their income can stretch much further in other countries, allowing them to save more, pay off debts, and even get ahead financially.

Kelli Maria Korduck a contributor with Business Insider joins Veronica Dudo to discuss why Americans are deciding that the only way to get ahead is to leave.

#IN AMERICA TODAY #featured #livingabroad #movingabroad #inflation #travel

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