Southwest Airlines seeks gate extension at Love Field; Paramount-leased property could get film incentives
Fort Worth is weighing state film incentives for a large, Paramount-leased warehouse. One of the nation's largest airlines is looking to secure its long-term presence at a key Dallas airport, with plans that could reshape the facility's future. And a large plot of land near the UNT Dallas campus might be transformed into a walkable community.
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2 hours ago
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Paramount layoffs: TV and movie giant cuts 3.5% of U.S. workforce ahead of merger with Skydance Media, citing uncertain economy
Paramount Global is cutting 3.5% of its U.S. workforce as customers switch away from traditional pay-TV bundles in today's shifting media landscape and uncertain economy. RIP to the almost future of computing: Apple just turned the iPad into a Mac Why Third Amendment memes are suddenly taking over social media China is arming its space station with 'guard dogs.' They have good reason for it The latest round of layoffs comes as the media giant prepares to merge with movie studio Skydance Media. Paramount Global's parent company, National Amusements, and Skydance Media agreed to merge last July, but are still waiting for regulatory approval. Paramount owns Paramount Pictures movie and television studios, the Paramount+ streaming service, MTV, Nickelodeon, BET, Comedy Central, and the CBS television network including CBS News. Shares in Paramount Global (PARA) were trading up about 1% in late morning trading at the time of this writing. On Tuesday, Paramount's co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins notified staff of layoffs in a memo, which said 90% of those impacted would be notified on Tuesday, according to CNBC. Last August, Paramount began the process of reducing its U.S.-based workforce by 15% after laying out a cost-cutting plan. The layoffs are just the latest to hit the beleaguered media industry, which has also seen staff cuts at Disney and Warner Bros. Discovery, to name a few. In Paramount Global's latest round of earnings, for the first quarter of 2025, ending March 31, 2025, the media company reported earnings per share (EPS) of $0.29, missing analysts estimates; and quarterly revenue of $7.19 billion, slightly beating analyst expectations of $7.14 billion. The company forecast that earnings would grow by 54.67% next year, from $2.25 to $3.48 per share. The company is slated to report Q2 earnings in early August. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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8 hours ago
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Roblox hands $6M in bonuses to CFO poached from Paramount
This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Departing Paramount Global CFO Naveen Chopra is set to receive $6 million in cash bonuses when he takes the top financial seat at immersive game platform Roblox, according to a Tuesday securities filing. Chopra is set to take Roblox's top finance seat on June 30, the San Mateo, Calif.-based game platform said. The bonuses that Chopra, 51, is set to receive from his new employer will be comprised of a $3 million cash signing bonus, which will vest and be paid throughout a three-year period, as well as a second, $3 million signing bonus, '1/36 of which will be earned for each month of completed service,' according to Roblox. His compensation will also include an annual base salary of $735,000. The New York-based media and entertainment conglomerate Paramount appointed Andrew Warren, currently serving as the strategic advisor to the Office of the CEO to the role of interim CFO upon Chopra's departure, Paramount said in a Monday press release. Chopra will from his role effective June 27 after a four-year tenure as Paramount's finance chief, the company said. The incoming finance chief will also receive an award of restricted stock units with a value of $28 million, according to the filing with the Securities and Exchange Commission. Roblox has also earmarked $15,000 per month for temporary housing reimbursement through Aug. 31, 2026, with a maximum of $900,000 in relocation expenses for the new CFO, per the filing. As CFO for the Roblox platform, which enables users to both program and play games, Chopra will succeed Michael Guthrie, Roblox said in a Tuesday filing. Guthrie will remain to provide 'advisory transitional services' to Roblox for a one-month period, the company said. An alum large companies including Amazon and music streaming service Pandora, Chopra has served as Paramount Global's CFO beginning in August 2020, according to his LinkedIn profile. Prior to joining Paramount, he served as CFO, Amazon Devices and Services for the e-commerce company, and served as CFO and interim CEO for Pandora. He also held various executive roles during a 13-year career at TiVo. The CFO appointment comes as Roblox looks to entice new users to its platform, with the company reporting a surge in its daily active users (DAU) for its Q1 2025 ended Mar. 31. The company saw 97.8 million DAUs in the period, a 26% jump year-over-year, according to its earnings report published May 8. Roblox also reported just over $1 billion in revenue for its Q1, a 29% increase YoY, as well as a 31% YoY rise in bookings to reach $1.2 billion, according to its earning report. Despite its most recent growth, Roblox has struggled to reassure investors about its potential for profitability. The company reported a consolidated net loss of $216.3 million for its Q1 2025, after posting a full-year consolidated net loss for 2024 of just over $940 million, according to earnings reports. The company has also faced questions regarding the safety of its platform, especially regarding its use by children: last October, now-defunct shortseller Hindenburg Research published a report accusing the platform of both inflating its user numbers and of being a 'pedophile hellscape for kids.' Questions about the platform's safety have repeatedly surfaced among both parents and other users, with digital behavior researchers Revealing Reality reporting the current safety measures employed by the platform remained 'limited in their effectiveness,' The Guardian reported in April. At Paramount, the CFO switch comes as the entertainment platform is seeking to navigate its own set of challenges after reconstituting its executive leadership last April — now led by a triumvirate of top executives in the Office of the CEO, including George Cheeks, Chris McCarthy and Brian Robbins. Chopra's departure comes as Paramount is reportedly gearing up to lay off about 3.5% of its workforce, CNBC reported Tuesday, citing a company memo. Last year Paramount moved to cut about 15% of its workforce in a three-phase plan, as part of a strategy to reduce its annual costs by $500 million, CNBC reported at the time. The cost-cutting moves also come as Paramount still seeks approval for its stalled $8 billion merger with Skydance, which has also been grappling with President Donald Trump's ongoing $20 billion lawsuit against 60 Minutes. Roblox and Paramount declined to comment beyond its press release. Recommended Reading Saab deputy finance chief moves to CFO chair Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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18 hours ago
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APOS Co-Founder Vivek Couto On Expectations For 2025 Event & How Asia Has Become A Key Battleground For The Future Of Entertainment
The latest iteration of the APOS conference features a who's-who of top-level film, TV and media players changing the course of the business in Asia. Here's just a small sample: DAZN co-founder James Rushton, Candle Media CEO Kevin Mayer, Foxtel boss Patrick Delany, Google APAC President Sanjay Gupta, iQiyi's Yang Xianghua and Kaichen Li, Netflix Korean content chief Don Kang, Nine Entertainment's Amanda Laing, Owl & Co. CEO founder Hernan Lopez and Jiyeon Song from Korean micro-drama platform TopReels. More from Deadline David Harbour On Feeling Relieved Over 'Stranger Things' Ending: "You're Having To Play A Lot Of The Same Beat" List Of Hollywood & Media Layoffs From Paramount To Warner Bros Discovery To CNN & More MTV Entertainment Studios, Comedy Central Executives Depart Amid Paramount Layoffs Add to that bosses from JioStar, Prime Video, NBCUniversal, Warner Bros Discovery, Sony Pictures Entertainment, Disney, Paramount, TikTok, TBS, BBC Studios and Banijay and it's clear why APOS has become a key fixture on the calendar. They've got plenty to discuss this year. APOS Executive Director and co-founder Vivek Couto is gearing up for his C-suite get-together in Bali with a global market facing a fast-changing outlook. Tech giants in Asia such as Google, Meta, Netflix and Amazon have been benefitting from growth in mobile screen, smart TV and fixed broadband usage across the continent, while traditional players have been rolling out new services and attempting to keep their linear businesses alive. 'At APOS 2025, we're focused on helping the industry navigate through disruption and opportunity,' says Couto, the veteran analyst who led the creation and is also Managing Director of Media Partners Asia. 'The next wave of monetization is here, and it's not just about more eyeballs, but better economics. We've designed a program that addresses the big shifts: the monetization of sport and entertainment, the role of AI across the stack, and how platforms are scaling in the big local markets that matter.' So what are the pressing live issues? Couto says one is that both the global giants and scaled local businesses need to find 'more robust' ways of making money and investing on content to seal their spots in the new digital ecosystem. 'Our focus is how that transition and monetization keeps pace, and who has the strategies to drive it,' he adds. APOS begins on June 24 with an invite-only CEO Forum, followed by a welcome reception at the Ayana Resort. Day 1 of the conference (June 25) is a big one for film and TV. An early highlight will be Google's Gupta discussing the power of storytelling in his talk on Asia's digital future. 'Google clearly has a view on the impact of AI on content creation and the growth of creators, who are monetizing through social platforms,' says Couto. 'It could also be a very big opportunity for long-form creators. Everyone is experimenting with AI.' We hear that on the same morning, Netflix's Kang, who is VP of Content, Korea, will discuss the performance of Squid Game Season 2, just days ahead of Season 3's launch. 'Netflix has a view on how it did, and Kang also wants to address [emerging perceptions] of a lull in the Korean creative economy. Korea is critical for Netflix, as they'll be investing around $700M there in next 3-4 years.' Ex-Disney boss Mayer will also address how to scale storytelling, while former Fox Networks boss Lopez will discuss the economics of streaming from the perspective of his consultancy Owl & Co. Prime Video India execs will talk about monetizing the explosion in streaming in India, while JioStar execs appear several times as their JioHotstar platform continues with its mission to be a service for a 'billion screens' across India. Couto says the shift towards short-form content, which has blown up in China and Korea through micro-drama platforms such as TopReels, is dictating how several companies are approaching content investments in 2025. Other points of discussion will be the strong theatrical growth in Indonesia, HBO Max's debut in Australia, the expanding addressable TV ads market in India and sports IP. Couto expects much talk to center on how companies should exploit the changing nature of entertainment consumption, giving the example of Disney, whose consumer products, parks and experiences business now generates over 50% of its operating profit on a global basis. This is one place where the traditional players might have the upper hand over the likes of Netflix and YouTube. 'The difference for players like Disney and Warner, in particular, is they've got a lot of revenues coming out of consumer products,' he says. 'It emphasizes the need to consider all revenue streams beyond screen entertainment.' In a similar vein, Couto notes that Google will address why YouTube is looking into subscription models, 'driven by the need to sustain growth beyond ad revenues.' Day 2 morning will be focused on AI – no surprises there, as the conversation moves towards digital companies such as Sandbox, StoryFit and TikTok. After lunch, there will be a session on U.S. content's impact in APAC, with Chris Taylor, MD APAC, Television Distribution, Networks & DTC at NBCUniversal; Amanda Laing, MD Streaming & Broadcast, Nine Entertainment; Adam Herr, SVP of Distribution, APAC at Sony Pictures Entertainment and Toshi Honda, COO at U-Next appearing together on a panel. Nicholas Simon, founder and CEO of The White Lotus Season 3 co-producer Indochina Productions will appear in a chat about Asia's creative economy going global, alongside Banijay Asia CEO Deepak Dhar and Disalada Disayanon from Kantana Group. Storytelling in the fast-growing theatrical market of Indonesia, the micro-drama boom, sports streaming and media investments will also be on the menu. The key focuses at APOS this year in terms of markets are India, where addressable TV ad growth is supercharging streaming revenues; Japan, which Couto says has 'really come of age as a $5.5B premium VOD market, led by SVOD and premium AVOD'; Indonesia, where the theatrical market has exploded; and Australia, which he predicts will see more big-scale M&A following DAZN's deal for paycaster Foxtel. Ulitmately, the entire event will be geared towards what comes next. 'As we go into this year's APOS, Netflix, Disney, Amazon and YouTube and scaled local platforms such as JioStar, U-Next and Foxtel are all generating profit and more and more cash,' says Couto. 'The key question is now about maintaining the balance between growing margins and investing to drive new growth.' 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