Just saw this about a minority stake in Paramount being "farmed out".
What does it mean for all the (forced) integration that occurred with Paramount, at least on the IT side?
http://www.cnbc.com/2016/02/23/viacom-ceo-pursuing-a-deal-to-farm-out-minority-stake-in-paramount.html
I knew a lot of the reality show people at 1540 Broadway, the old BMG building, all day I heard "is this legal, is that legal"? All their shows are potty or vomit humor and even their target audience of tweens has been bored by it for years. Given their location in New York, New York - actually in Times Square - it's hard to understand why they cannot locate a few individuals with ideas that don't literally stink. Technology is old, staff is old, few women, no blacks, loads of Indian men, mostly 44yo white guys leaving to play golf in New Jersey at 4PM. Both locations on Broadway are dead zones by 6, not exactly a fast-paced media environment.
Farming out to smarter, younger creative firms is probably the best thing they can do as they really have 1.5 feet in the grave.
class b stock continues to get hammered. no sunshine in sight. i'm guessing massive layoffs are still in the near future cards. such a shame that this company lost sight of the prize many years ago.
yikes - http://www.showbiz411.com/2016/02/23/paramount-peril-as-zoolander-2-may-lose-80mil-cause-huge-layoffs-cash-crunch
this particular move is the beginning of the final end. slicing off portions of the company will most likely be the norm over the next few years. this is the only option phillipe has to save his job and appease investors. the heat has been on him for many many months. he's now sailing the ship into murkier waters. the biggest issue that employees will soon face is layoffs. all of these wrong decisions, over the past severals years, have now come home to roost. unfortunately the employees will be the casualties. once the front-running company, viacom's overall "look" has been beaten and abused. it's sad.