Paramount Global replaced Chief Executive Officer Bob Bakish, appointing a management committee as the board negotiates a possible change in control of the company. Three of Paramount’s most senior executives — film and kids programming chief Brian Robbins, Showtime/MTV head Chris McCarthy and George Cheeks, who leads CBS — will run the company, according to a statement released Monday.

Bloomberg TV and Radio hosts Romaine Bostick, Scarlet Fu, Tim Stenovec and Emily Graffeo discuss the news. Then, Tim and Emily speak with Bloomberg News Entertainment Editor Chris Palmeri for analysis and reaction.  

Paramount Global replaced Chief Executive Officer Bob Bakish, appointing a management committee as the board negotiates a possible change in control of the company. Three of Paramount’s most senior executives — film and kids programming chief Brian Robbins, Showtime/MTV head Chris McCarthy and George Cheeks, who leads CBS — will run the company, according to a statement released Monday.
Bloomberg TV and Radio hosts Romaine Bostick, Scarlet Fu, Tim Stenovec and Emily Graffeo discuss the news. Then, Tim and Emily speak with Bloomberg News Entertainment Editor Chris Palmeri for analysis and reaction.

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Listen for investment news and in-depth company research. Hosts Paul Sweeney and Scarlet Fu harness the power of Bloomberg Intelligence to analyze investments on Wall Street. Watch Bloomberg Intelligence LIVE on YouTube, weekdays from 10AM to 12PM ET: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

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Instant Reaction: Paramount CEO Bob Bakish Is Out

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Jake Bleiberg, Bloomberg News Cybersecurity reporter, on how the US government is preparing to make a version of Anthropic PBC’s powerful new artificial intelligence model available to major federal agencies

-Mark Douglas, Mark Douglas, MNTN President and CEO, breaks down Netflix Earnings

-Randall Williams, Bloomberg News sports reporter, on how LIV Golf, the upstart league that challenged the supremacy of the PGA Tour, might be losing its funding from Saudi Arabia

- Jen Rie, Bloomberg Intelligence Antitrust analyst, on Live Nation losing it's antitrust case

 

 

Watch Scarlet and Paul LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF" data-destination="rte:bind">http://bit.ly/3vTiACF</a>. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu
-Jake Bleiberg, Bloomberg News Cybersecurity reporter, on how the US government is preparing to make&nbsp;a version of Anthropic PBC&rsquo;s powerful new artificial intelligence model available to major federal agencies
-Mark Douglas, Mark Douglas, MNTN President and CEO, breaks down Netflix Earnings
-Randall Williams, Bloomberg News sports reporter, on how LIV Golf, the upstart league that challenged the supremacy of the PGA Tour, might be losing its funding from Saudi Arabia
- Jen Rie, Bloomberg Intelligence Antitrust analyst, on Live Nation losing it's antitrust case
&nbsp;
&nbsp;

White House Works to Give US Agencies Anthropic Mythos AI

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Netflix gave a forecast for the second quarter that fell short of analysts expectations, sending the shares down in extended trading. The streaming pioneer also announced that chairman and co-founder Reed Hastings is stepping down from the board after 29 years to pursue philanthropy and personal interests.

Revenue rose 16% in the first three months of the year to $12.3 billion, compared with estimates for $12.2 billion, the company said in a statement on Thursday. Earnings per share for the quarter were $1.23 compared with estimates of 76 cents.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Bloomberg Intelligence senior media analyst Geetha Ranganathan
Eric Clark, Accuvest Global Advisors CIO  and LOGO ETF Portfolio Manager

Netflix gave a forecast for the second quarter that fell short of analysts expectations, sending the shares down in extended trading. The streaming pioneer also announced that chairman and co-founder Reed Hastings is stepping down from the board after 29 years to pursue philanthropy and personal interests. Revenue rose 16% in the first three months of the year to $12.3 billion, compared with estimates for $12.2 billion, the company said in a statement on Thursday. Earnings per share for the quarter were $1.23 compared with estimates of 76 cents. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
<ul>
<li>Bloomberg Intelligence senior media analyst Geetha Ranganathan</li>
<li>Eric Clark, Accuvest Global Advisors CIO&nbsp; and LOGO ETF Portfolio Manager</li>
</ul>

Instant Reaction: Netflix Misses, Reed Hastings Steps Down

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Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- Ken Shea, Bloomberg Intelligence Senior Consumer Products Analyst, to recap PepsiCo earnings. PepsiCo Inc. said it’s starting to see salty snack sales grow after the company cut prices earlier this year. The maker of Doritos and Lay’s said its strategy of slashing prices by up to 15% in some brands and reducing internal costs through layoffs and plant closures was starting to pay off. After years of declines, organic revenue in its North American foods division increased 1% and volume grew 2%, the company said in its first quarter earnings Thursday.

- Siddharth Phillip, Bloomberg News Chief Correspondent for Global Aviation on Airline Issues, on Spirit Airlines at Risk of Liquidation. is at risk of being liquidated as rising jet fuel prices spurred by the US war with Iran further squeeze the bankrupt budget carrier’s finances, according to people familiar with the matter. Any decision by the company to potentially liquidate could come as soon as this week, said the people, who asked not to be named because the discussions are private. The situation is fluid as Spirit engages in ongoing talks with its creditors, and its plans could still change, they added. A Spirit spokesperson declined to comment. Representatives of creditor groups didn’t return calls seeking comment.

-Herman Chan, Senior Analyst, US Banks for Bloomberg Intelligence, discusses U.S bank earnings. U.S. Bancorp posted first-quarter profit that beat estimates, as Chief Executive Officer Gunjan Kedia rounds out her first year leading the largest regional bank and boosting its stock. Net income of $1.84 billion surpassed the $1.78 billion consensus estimate from analysts. The bank also posted net revenue that was up 4.7% to $7.29 billion compared with a year earlier, helped by momentum in capital markets and investment services, according to a statement Thursday.

- Matthew Griffin, Bloomberg Equities reporter on Madison Air Prices Biggest US Industrial IPO in Nearly 27 Years. Madison Air Solutions Corp. raised $2.23 billion in the biggest US listing of an industrial company in close to three decades. The Chicago-based provider of ventilation and filtration systems sold 82.7 million shares at $27 each after marketing them for $25 to $27, according to a statement Wednesday. The offering was multiple times oversubscribed, people familiar have said.The pricing gives the company a market value of $13.2 billion based on the number of outstanding shares listed in its filings.

Watch Scarlet and Paul LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF" data-destination="rte:bind">http://bit.ly/3vTiACF</a>. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu - Ken Shea, Bloomberg Intelligence Senior Consumer Products Analyst, to recap PepsiCo earnings. PepsiCo Inc. said it&rsquo;s starting to see salty snack sales grow after the company cut prices earlier this year. The maker of Doritos and Lay&rsquo;s said its strategy of slashing prices by up to 15% in some brands and reducing internal costs through layoffs and plant closures was starting to pay off. After years of declines, organic revenue in its North American foods division increased 1% and volume grew 2%, the company said in its first quarter earnings Thursday. - Siddharth Phillip, Bloomberg News Chief Correspondent for Global Aviation on Airline Issues, on Spirit Airlines at Risk of Liquidation. is at risk of being liquidated as rising jet fuel prices spurred by the US war with Iran further squeeze the bankrupt budget carrier&rsquo;s finances, according to people familiar with the matter. Any decision by the company to potentially liquidate could come as soon as this week, said the people, who asked not to be named because the discussions are private. The situation is fluid as Spirit engages in ongoing talks with its creditors, and its plans could still change, they added. A Spirit spokesperson declined to comment. Representatives of creditor groups didn&rsquo;t return calls seeking comment. -Herman Chan, Senior Analyst, US Banks for Bloomberg Intelligence, discusses U.S bank earnings. U.S. Bancorp posted first-quarter profit that beat estimates, as Chief Executive Officer Gunjan Kedia rounds out her first year leading the largest regional bank and boosting its stock. Net income of $1.84 billion surpassed the $1.78 billion consensus estimate from analysts. The bank also posted net revenue that was up 4.7% to $7.29 billion compared with a year earlier, helped by momentum in capital markets and investment services, according to a statement Thursday. - Matthew Griffin, Bloomberg Equities reporter on Madison Air Prices Biggest US Industrial IPO in Nearly 27 Years. Madison Air Solutions Corp. raised $2.23 billion in the biggest US listing of an industrial company in close to three decades. The Chicago-based provider of ventilation and filtration systems sold 82.7 million shares at $27 each after marketing them for $25 to $27, according to a statement Wednesday. The offering was multiple times oversubscribed, people familiar have said.The pricing gives the company a market value of $13.2 billion based on the number of outstanding shares listed in its filings.

PepsiCo’s Snacks Business Starts to Rebound After Price Cuts

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Instant Reaction: Paramount CEO Bob Bakish Is Out

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