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NEW YORK - EverPass Media, a platform catering to commercial clients, has entered into a multi-year agreement with Paramount+ to distribute CBS Sports’ UEFA Champions League matches to establishments across the United States. Starting today, EverPass customers can stream all matches that are available on Paramount+, marking the first time these games are accessible for commercial venues in the country. The deal represents another strategic move for Paramount Global, which InvestingPro data shows is a prominent player in the media industry with annual revenue reaching $28.87 billion.
The deal enhances EverPass’ library of live sports offerings, including select CBS Sports UEFA ancillary programming such as The Golazo Show. Alex Kaplan, CEO of EverPass Media, stated that the partnership aims to provide bars and restaurants with the ability to offer an unrivaled viewing experience, potentially driving increased patronage and creating a vibrant atmosphere through live sports.
Paramount+, which streams UEFA men’s club competitions, seeks to expand its reach and audience for UEFA Champions League coverage through this collaboration. Dan Weinberg, Executive Vice President of Programming at CBS Sports, emphasized the goal of reaching fans in out-of-home settings.
CBS Sports holds the exclusive English-language rights to the UEFA Champions League in the U.S., with all matches available on Paramount+ and select games, including semi-finals and finals, broadcasted on CBS Television Network. Paramount+ offers a wide range of content, including original series, movies, and live sports, with UEFA Champions League as a cornerstone of its soccer portfolio.
EverPass, launched in April 2023, provides a centralized platform for streaming premium sports and entertainment content, equipped with engagement tools aimed at boosting business growth for commercial venues like bars, restaurants, and hotels.
The information for this article is based on a press release statement.
In other recent news, Paramount Global has received a new acquisition bid from Project Rise Partners (PRP) for $13.5 billion, challenging the existing $8 billion bid by Skydance Media and RedBird Capital Partners (WA:CPAP). PRP’s proposal offers a substantial premium on Paramount’s B shares and plans to infuse an additional $2 billion into Paramount’s balance sheet. This all-cash proposal is backed by credible investors with committed financing.
Simultaneously, Paramount Global is considering options to settle a $10 billion lawsuit filed by Donald Trump over a CBS News interview, amidst their merger plans with Skydance Media. The lawsuit could potentially complicate the review process for the merger, leading the companies to consider offering concessions for approval.
In other developments, Paramount’s merger with Skydance Media has drawn scrutiny due to the involvement of China’s Tencent Holdings Ltd (HK:0700) (F:NNND)., which is on a U.S. military blacklist. Congressman John Moolenaar has called for a review of the merger by the Committee on Foreign Investment in the United States (CFIUS).
Furthermore, money manager Mario Gabelli is petitioning a judge to compel Paramount Global to disclose documents related to its merger with Skydance Media. Gabelli’s intention is to allow investors to understand the benefits that controlling shareholder Shari Redstone is deriving from the deal and to ascertain its fairness. These are recent developments in the ongoing narrative surrounding Paramount Global.
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