Paramount is taking its pursuit of CNN’s parent company, Warner Bros. Discovery, to court.
On Monday, Paramount CEO David Ellison announced a lawsuit in Delaware Chancery Court, where shareholders typically bring corporate disputes, as it attempts a hostile takeover of the iconic entertainment company.
Ellison criticized Warner Bros. Discovery, also known as WBD, for a “lack of transparency” around its decision to favor Netflix’s bid for Warner Bros. and HBO.
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Looks like the streaming adage of “new content drives subscribers” is true. Paramount+ announced that it’s had its “most successful week ever,” adding more than 1 million new subscribers, as well as setting a new record for total sign-ups since the streaming service rebranded from CBS All Access in March 2021.
While owner ViacomCBS doesn’t break out specific subscription numbers, we can put things into a little bit of context. Globally, ViacomCBS added 4.3 million subscribers in the third quarter of 2021 for a total of 47 million. So more than a million new subscribers in a single week is a big deal.
Dispatches From The Front 