Paramount+
Paramount+ is a subscription video streaming service owned by Paramount Skydance, offering original series, live sports including NFL and UEFA Champions League, and content from CBS, MTV, Nickelodeon, and Showtime. The platform operates on an ad-supported or ad-free tier structure, with live TV, movies, and exclusive streaming content.
Score generated by AI agents based on publicly cited evidence and reviewed by the project maintainer. Not independently validated. Last assessed 2026-09-26. Score revised 2026-09-26: 60 → 53.
Score History
Timeline events are AI-curated from public reporting. Score trajectory is derived from documented events.
CBS launched CBS All Access as a $5.99/month ad-supported complement to its broadcast network, offering on-demand CBS shows and live local stations. Star Trek: Discovery in 2017 became its first big exclusive. The service itself showed little extraction; the concerns were at the parent, where the Redstone family held about 80% of CBS voting stock and the 2018 Les Moonves scandal exposed board failures.
The CBS-Viacom merger reunited the companies under Shari Redstone's National Amusements, adding Paramount Pictures, MTV, Nickelodeon, Comedy Central, Showtime and BET to the streaming pipeline, alongside Pluto TV, which Viacom had bought for $340 million. CBS All Access gained Viacom content in 2020. Governance stayed concentrated, with National Amusements holding about 77% of the votes on about 10% of the equity.
CBS All Access relaunched as Paramount+ with Viacom brands, a $4.99 ad-supported Essential tier, international expansion and NFL rights through 2033. Streaming losses reached $1.8 billion in 2022 as the company spent to compete with Netflix and Disney+. Users gained content, but by early 2023 Paramount had announced price increases tied to folding Showtime into the service, and CBS and Moonves had paid $30.5 million to settle the New York AG's case.
Paramount+ pulled originals such as Star Trek: Prodigy and Grease: Rise of the Pink Ladies for tax write-offs, four days before absorbing Showtime and raising prices to $5.99 (Essential) and $11.99 (with Showtime). The removals ended residuals on those titles, and pulled titles and streaming residuals became grievances in the 2023 WGA and SAG-AFTRA strikes. More Nickelodeon titles were removed in December 2023, and a $1 billion charge for content and layoffs followed in early 2024.
CEO Bob Bakish was ousted with an $87 million package while three interim co-CEOs cut 15% of U.S. staff. Paramount erased the Comedy Central, MTV News and CMT web archives, raised prices to $7.99/$12.99, and removed more Nickelodeon titles. It agreed in July 2024 to merge with Skydance and ended the era settling President Trump's 60 Minutes suit for $16 million as FCC approval loomed. Paramount+ kept growing, to 77.5 million subscribers by the end of 2024.
The Skydance merger closed with the Ellison family in control, after FCC conditions ending DEI and installing a CBS News ombudsman. Days later Paramount paid $7.7 billion for exclusive UFC rights. It cut about 10% of staff, took 600 return-to-office buyouts, bought The Free Press and made Bari Weiss CBS News editor-in-chief, and announced January 2026 price rises and the end of free trials.
Paramount's hostile bid for Warner Bros. Discovery turned into a $110.9 billion agreement in February 2026, with plans to fold HBO Max into Paramount+. The DOJ cleared it without divestitures in June; 12 states sued in July and then settled in September for behavioral commitments. Meanwhile Paramount raised prices, ended free trials, shut BET+ into Paramount+, cut 6% of CBS News, and posted record Paramount+ retention on UFC and new originals. Closing and post-merger layoffs are expected in late 2026.
Alternatives
Far less enshittified than Paramount+, with no ad-supported tier. Smaller catalog built mostly on originals rather than a deep library, but consistently high-quality shows. $14.99/month (raised from $12.99 in August 2026) or included with Apple One bundles. Easy switch if you're primarily here for originals rather than CBS or Nickelodeon content.
Free ad-supported streaming with a large movie and TV library, far less enshittified than Paramount+. No subscription required, and an account is optional. Good option if Paramount+ was primarily for casual movie browsing rather than exclusive originals or live sports. Doesn't replace NFL or UEFA Champions League coverage.
Dimensional Breakdown
Summaries below were written by AI agents based on the cited evidence. They are editorial interpretations, not independent research findings.
Dimension History
Timeline (63 events)
CBS All Access Launches as CBS Streaming Service
CBS Corporation launched CBS All Access, priced at $5.99/month with ads and $9.99/month without, offering live streaming of CBS local affiliates and on-demand access to CBS programming. It was one of the first standalone streaming services from a broadcast network.
Redstones Win Viacom Governance Fight, Holding ~80% of CBS and Viacom Voting Stock
Viacom and the Redstone family's National Amusements (NAI) settled their governance dispute, with Viacom CEO Philippe Dauman stepping down and five NAI-elected directors joining the board. The settlement release disclosed that NAI held about 79.8% of Viacom's Class A voting stock (10% of total equity) and about 79.5% of CBS Corporation's voting stock (8.6% of total equity), a dual-class structure that let the family control both companies, including CBS All Access, with a small economic stake.
Star Trek: Discovery Premieres, Driving Subscriber Growth
Star Trek: Discovery premiered on CBS All Access, with its first episode also airing on the CBS broadcast network to promote the service. CBS said the premiere broke the service's single-day sign-up record, previously set by the 2017 Grammy Awards, and gave All Access its best week and month ever for sign-ups alongside the NFL season kickoff and Big Brother.
Les Moonves Sexual Misconduct Allegations Surface at CBS
The New Yorker published explosive allegations of sexual misconduct against CBS CEO Les Moonves, following an initial report in July. Moonves resigned on September 9, 2018. A subsequent New York AG investigation revealed that CBS executives had actively concealed the allegations from shareholders and regulators, including insider trading by a senior executive who sold millions in stock before the allegations went public.
Viacom Acquires Pluto TV for $340 Million
Viacom completed its $340 million acquisition of Pluto TV, the leading free ad-supported streaming service in the U.S. The deal established a two-tier streaming ecosystem: free ad-supported (Pluto TV) and paid subscription (CBS All Access), creating cross-platform advertising and content distribution infrastructure.
CBS and Viacom Complete Reunion Merger as ViacomCBS
CBS Corporation and Viacom completed their merger on December 4, 2019, reuniting as ViacomCBS under Shari Redstone's National Amusements. The deal consolidated CBS, Paramount Pictures, MTV, Nickelodeon, Comedy Central, Showtime, and BET under one umbrella, with National Amusements retaining voting control through the dual-class share structure.
ViacomCBS Expands CBS All Access with Viacom Content and Brand Hubs
CBS All Access added more than 3,500 episodes from ViacomCBS brands including BET, Comedy Central, MTV, Nickelodeon, and Smithsonian Channel, bringing the library to more than 20,000 episodes and movies. A new user interface introduced advanced recommendations, curated homepages and central 'hubs' for ViacomCBS brands, as a step toward the 2021 rebrand.
ViacomCBS Announces CBS All Access Rebrand to Paramount+
ViacomCBS announced that CBS All Access would rebrand as Paramount+ in early 2021 and expand internationally, initially to Australia, Latin America and the Nordics. The service had added over 3,500 episodes from ViacomCBS brands and planned to grow to more than 30,000 episodes and movies. ViacomCBS did not announce pricing changes at the time.
CBS All Access Relaunches as Paramount+ Streaming Service
CBS All Access rebranded as Paramount+ on March 4, 2021, launching with 30,000-plus TV episodes and more than 2,500 movies drawn from CBS, Nickelodeon, MTV, BET, Comedy Central, Smithsonian Channel and Paramount Pictures. Pricing was unchanged at launch: the $5.99/month limited-commercials plan and $9.99/month commercial-free plan carried over from CBS All Access, with a cheaper $4.99 ad-supported tier (without local CBS stations) promised for June.
ViacomCBS Secures NFL Rights Through 2033 with Paramount+ Streaming
ViacomCBS signed an 11-year NFL rights deal extending CBS's partnership through the 2033 season, with all games in the CBS package broadcast on CBS and streamed on Paramount+. Paramount+ gained expanded rights to carry NFL games on both its $9.99 premium tier and the new $4.99 ad-supported tier beginning with the 2021 season, making the NFL a centerpiece of its streaming strategy.
Common Sense Privacy Evaluation Finds Paramount+ Sells User Data to Third Parties
Common Sense Media's privacy evaluation of Paramount+ (last updated April 6, 2021) found that its terms allow selling users' information to third parties, using personal information for targeted advertising and third-party marketing, and building user profiles, including data from third parties matched across devices, for advertising on other apps and websites. Paramount+ does not sell children's data or target ads to children under 13.
Paramount+ Launches $4.99 Essential Ad-Supported Plan
Paramount+ introduced its Essential plan at $4.99/month, a dollar less than the $5.99 Limited Commercials plan inherited from CBS All Access, which closed to new subscribers. The ad-supported Essential tier dropped live local CBS stations and offline downloads, which required the $9.99 commercial-free plan.
ViacomCBS Renames to Paramount Global
ViacomCBS officially changed its corporate name to Paramount Global, leveraging the Paramount brand recognition. CEO Bob Bakish and Chair Shari Redstone stated the name reflected the company's role as an 'iconic global' entertainment leader. Shares would trade under new ticker symbols PARA and PARAA. The rebrand accompanied ambitious content spending plans that would produce $1.8 billion in streaming losses for 2022.
Paramount Streaming Losses Reach $1.8 Billion Amid Content Spending Spree
Paramount Global's CFO defended the company's heavy streaming spending, including a $6 billion content budget, even as Paramount+ and its sister platforms were on track for a $1.8 billion streaming loss in 2022. The unsustainable burn rate set the stage for aggressive cost-cutting and content write-offs in subsequent years.
Walmart+ Bundles Paramount+ Essential Tier
Walmart reached a deal to include Paramount+ Essential (ad-supported) with Walmart+ memberships at no extra cost starting in September 2022. The partnership extended Paramount+'s distribution through Walmart's subscriber base while driving ad-supported viewing, creating soft lock-in through bundled subscription ecosystems.
CBS and Moonves Pay $30.5 Million Over Concealed Sexual Assault Claims
The New York Attorney General announced a $30.5 million settlement with CBS and former CEO Les Moonves. The investigation found that CBS executives knowingly concealed sexual assault allegations from shareholders and regulators, with help from a Los Angeles police captain, and that a senior executive sold nearly $8.9 million in stock before the allegations became public, which the AG called insider trading. CBS was also required to reform its sexual-harassment HR practices.
Paramount Announces Paramount+ Price Hikes Tied to Showtime Integration
Paramount announced plans to raise Paramount+ prices when it combined the service with Showtime in the third quarter of 2023: the ad-supported Essential plan would rise from $4.99 to $5.99 and the premium tier, renamed 'Paramount+ with Showtime', from $9.99 to $11.99/month. Combining the platforms was also meant to reduce content spending.
Paramount Takes $1.67 Billion Q1 Programming Charge for Showtime Merger
Paramount Global recognized a $1.674 billion programming charge in Q1 2023, driven largely by its plan to merge Showtime into Paramount+. The charge covered removing content from platforms, abandoning development and terminating contracts, plus cuts to international operations, and contributed to a $1.23 billion operating loss for the quarter.
Paramount+ Removes Original Shows for Tax Write-Offs
Paramount+ pulled multiple original shows including Star Trek: Prodigy, Grease: Rise of the Pink Ladies, Queen of the Universe, and The Game from the platform. The removals allowed the company to take content impairment write-offs and avoid paying ongoing residuals to writers, actors, and other creative talent. Techdirt reported the strategy was specifically designed 'for a tax cut and to skimp on paying residuals.'
Showtime Officially Absorbed Into Paramount+ Streaming Platform
Showtime was folded into Paramount+ on June 27, 2023, creating a combined 'Paramount+ with Showtime' Premium tier at $11.99/month, up from $9.99. About 120 Showtime staffers were laid off in connection with the integration, and the Showtime studio was later folded together with MTV Entertainment Studios. The move ended Showtime's standalone streaming app.
SAG-AFTRA Strikes Begin, Partly Over Streaming Residual Disputes
SAG-AFTRA joined the WGA on strike against studios including Paramount, the first simultaneous strike by both unions since 1960. Key issues included streaming residuals, the studios' refusal to share granular viewership data, and AI. The strike ended November 9, 2023, with new success-based bonuses for titles whose domestic views in their first 90 days equal 20% of a service's domestic subscribers.
Dark Patterns Report Documents Paramount+ Guilt-Inducing Cancellation Design
A report by EmailTooltester on dark patterns in subscription cancellations found guilt-inducing copy in 87.5% of the services it examined and cited Paramount+'s cancellation flow, which tells users it is 'sad to see you go', as an example.
Paramount+ Removes Additional Nickelodeon Content Ahead of Year-End
NickALive reported that Paramount+ would remove more Nickelodeon library series and seasons on January 1, 2024, following earlier 2023 removals of originals such as Star Trek: Prodigy and The Fairly OddParents: Fairly Odder ahead of the Showtime merger. Several Star Trek films also left the service at the start of 2024. The removals reinforced that Paramount+ content remains accessible only at the company's discretion.
Paramount Reports $490 Million Q4 2023 Streaming Loss Amid Skydance Takeover Talks
Paramount Global reported a $490 million streaming loss for Q4 2023 as Paramount+ reached 67.5 million subscribers. Skydance's David Ellison remained the most likely buyer, after Byron Allen's $30 billion bid drew little serious attention and Warner Bros. Discovery bowed out; the most likely structure had Ellison buying National Amusements, which held 77% of Paramount's voting shares.
Paramount Announces $1 Billion Q1 2024 Charge for Content and Layoffs
Paramount's CFO said the company expected to take a charge of about $1 billion in Q1 2024 for programming write-downs and restructuring tied to layoffs. Earlier in February it had cut about 750 domestic positions (roughly 5% of its U.S. workforce) to save about $200 million a year. This followed the $1.67 billion programming charge taken in Q1 2023.
CEO Bob Bakish Ousted with $87 Million Compensation Package
Paramount Global dismissed CEO Bob Bakish on April 29, 2024, during Skydance merger negotiations. Bakish received $69.3 million in severance (including $24.8 million in bonus continuation and $27.8 million in equity acceleration) plus his regular compensation, totaling approximately $87 million for 2024. Three interim co-CEOs (Cheeks, Robbins, McCarthy) replaced him, receiving combined compensation exceeding $61 million including $6 million bonuses each.
Paramount Purges MTV News, Comedy Central, and CMT Web Archives
Paramount Global removed the online archives of ComedyCentral.com, MTVNews.com, TVLand.com, and CMT.com from public access, erasing over 25 years of content including The Daily Show clips dating back to 1999, the entire Colbert Report run, Key & Peele, and decades of MTV News articles. A spokesperson stated the purge was meant to drive fans to Paramount+. Writers and editors were given no warning.
Paramount Agrees to Merge With Skydance, Ending Redstone Control
Paramount Global's special committee approved a merger with Skydance Media after months of negotiations. A consortium led by David Ellison with RedBird Capital agreed to invest more than $8 billion to acquire Shari Redstone's National Amusements, Paramount's controlling shareholder, and merge Skydance into Paramount, transferring control of the company from the Redstone family to the Ellisons.
Paramount Launches Self-Serve Ads Manager for Cross-Platform Targeting
Paramount Advertising launched Paramount Ads Manager, a self-service platform letting small and mid-sized businesses buy, create and track ads streaming on Paramount+ and Pluto TV. It combined audience targeting with generative-AI video ad creation from Waymark, expanding the advertising infrastructure across Paramount's streaming ecosystem.
Paramount+ Raises Prices: Essential to $7.99, Premium to $12.99
Paramount+ increased prices in August 2024, raising the Essential ad-supported plan by $2 to $7.99/month and the Premium plan by $1 to $12.99/month. The Essential price was now 60% above its $4.99 launch price in 2021.
Paramount Announces 15% U.S. Workforce Reduction of 2,000 Employees
Paramount Global said it would cut 15% of its U.S. workforce, about 2,000 employees, ahead of its merger with Skydance, as part of the co-CEOs' plan to cut $500 million in annual costs. It expected a $300-400 million restructuring charge, with cuts concentrated in marketing, communications and corporate functions and completed by year-end 2024.
NCTA (Including Paramount) Sues to Block FTC Click-to-Cancel Rule
NCTA, the cable industry trade group whose members include Paramount Global, joined the Interactive Advertising Bureau and the Electronic Security Association in suing in the Fifth Circuit Court of Appeals to overturn the FTC's 'click-to-cancel' rule, which would have required cancellation to be as easy as signup. The groups argued the rule was 'arbitrary, capricious and an abuse of discretion' under the Administrative Procedure Act and that the FTC exceeded its statutory authority. The Eighth Circuit ultimately vacated the rule in July 2025.
Paramount+ Subscriber Sues Over Sharing Viewing Data With Meta and TikTok
Paramount+ subscriber Victor Cho filed a proposed class action in New York federal court alleging that Paramount embedded the Facebook Pixel and TikTok's pixel in Paramount+, sending video titles watched and unique user identifiers to those platforms without consent in violation of the Video Privacy Protection Act. Paramount moved to dismiss, arguing the plaintiff consented to the disclosures through its privacy policy.
Paramount+ Removes More Nickelodeon Titles, Including 'Doug'
Paramount+ removed another batch of Nickelodeon series and specials, including the first Nicktoon, Doug, on December 19, 2024, followed by more removals on December 23. A Paramount spokesperson described the purges as part of its normal monthly and quarterly process of adding and removing titles, as Paramount Global cut costs ahead of the Skydance merger.
Paramount Cuts Additional 3.5% of U.S. Workforce
Paramount Global laid off several hundred more domestic employees, about 3.5% of its U.S. workforce, citing the decline of the traditional pay-TV bundle and macroeconomic headwinds. This came on top of the 15% reduction begun in August 2024, bringing cumulative U.S. cuts to roughly 18-19% in under a year.
Paramount Settles Trump's 60 Minutes Lawsuit for $16 Million
Paramount agreed to pay $16 million, plus Trump's legal fees, toward his future presidential library to settle his lawsuit alleging that CBS's 60 Minutes deceptively edited an interview with Kamala Harris, a suit many legal experts considered spurious. The settlement came while the FCC was reviewing the Skydance deal, and one law professor called it 'protection money'.
South Park Creators Say Merger Is 'F***ing Up South Park' as Premiere Is Delayed
Trey Parker and Matt Stone said the pending Paramount-Skydance merger 'is a shit show and it's fucking up South Park' after Comedy Central pushed Season 27's premiere from July 9 to July 23 amid negotiations over streaming rights. Paramount and the creators later signed a five-year, $1.5 billion streaming deal. The clash illustrated tensions between creative talent and the merging company.
Skydance Pledges to Eliminate DEI and Install CBS News Ombudsman
In letters to Trump's FCC chairman Brendan Carr, Skydance confirmed that Paramount had eliminated its diversity, equity and inclusion initiatives, pledged not to adopt any, and committed to install for at least two years an ombudsman to review 'complaints of bias or other concerns' at CBS. The concessions were made to win FCC approval of the Paramount-Skydance merger.
South Park Moves to Paramount+ in Five-Year, $1.5 Billion Deal
Trey Parker and Matt Stone signed a five-year overall deal with Paramount, and South Park Digital Studios entered an exclusive five-year license with Paramount+ reportedly worth $1.5 billion. The pact covers 50 new episodes and all 26 previous seasons, making Paramount+ the U.S. streaming home of the library, which had been exclusive to HBO Max, and returning the show to Paramount+ internationally.
FCC Approves Paramount-Skydance Merger in 2-1 Vote
The FCC approved the Paramount-Skydance merger in a 2-1 partisan vote, following Paramount's $16 million Trump settlement and Skydance's DEI elimination pledge. The lone dissenting commissioner raised concerns about the political concessions. The approval paved the way for the $8 billion merger to close on August 7, 2025, transitioning control from the Redstone family's National Amusements to David Ellison's family.
Paramount-Skydance $8 Billion Merger Closes, Ellison Takes Control
The merger between Skydance Media and Paramount Global officially closed, creating Paramount Skydance Corporation. David Ellison became chairman and CEO. Investor Mario Gabelli's GAMCO filed a class-action lawsuit alleging National Amusements received over $60/share for Class A stock while other shareholders received only $23/share. The Redstone family's National Amusements was absorbed into the combined entity.
Paramount Secures Exclusive UFC Rights in $7.7 Billion Deal
Paramount Skydance announced a seven-year, $7.7 billion deal making Paramount+ the exclusive U.S. home of all UFC events starting in 2026, pulling the franchise from ESPN. The deal averages $1.1 billion annually and eliminates UFC's pay-per-view model, making events available to Paramount+ subscribers at no additional cost. The massive content investment was used to justify subsequent price increases.
House Democrats Probe Paramount's Trump Settlement as Possible Bribe
Reps. Jamie Raskin and Frank Pallone, the top Democrats on the House Judiciary and Energy and Commerce committees, opened an investigation into whether Paramount and Skydance acquiesced to 'illegitimate demands' from President Trump to win FCC approval. Their letter to David Ellison said the $16 million 60 Minutes settlement raised 'significant concerns' of an illegal bribe and demanded internal materials within two weeks.
Ellison Announces AI-Driven 'Tech-Forward' Transformation for Paramount
CEO David Ellison outlined plans to make Paramount a 'tech-forward' company, using virtual production and AI to boost content creation and partnering with father Larry Ellison's Oracle to move Paramount+, Pluto TV and BET+ to a common backend. Former Meta and Google executive Dane Glasgow was put in charge of product strategy across digital platforms, advertising and AI-powered capabilities, though TheWrap noted details of the strategy remained sparse.
Paramount Buys The Free Press, Names Bari Weiss CBS News Editor-in-Chief
Paramount Skydance acquired The Free Press, the opinion and news outlet co-founded by Bari Weiss, and named Weiss editor-in-chief of CBS News. NBC News called it one of David Ellison's most significant early moves to reshape the news division, following Skydance's pledges to the FCC to represent 'the varied ideological perspectives of American viewers' and install a CBS News ombudsman.
Post-Merger Layoffs Begin: 2,000 More Jobs Cut Under Skydance
Paramount Skydance began cutting about 2,000 positions, roughly 10% of its workforce, with about 1,000 U.S.-based workers let go in the first round. CEO David Ellison said building the company 'would require significant change'. Executives had promised Wall Street $2 billion in cost savings, with workforce reductions a significant component.
600 Paramount Employees Take Buyouts Over Five-Day Return-to-Office Mandate
Paramount Skydance told staff in September 2025 they must work in the office five days a week from January 5, 2026, offering voluntary severance to those unwilling to return. About 600 employees took the buyout, Ellison disclosed, on top of roughly 1,000 layoffs at the end of October with another 1,000 planned, about 10% of staff in total.
Paramount Launches $108 Billion Hostile Takeover Bid for Warner Bros. Discovery
Paramount Skydance launched an all-cash hostile tender offer of $30 per share for Warner Bros. Discovery, valuing the company at approximately $108.4 billion in enterprise value. The bid sought to block Netflix's $82.7 billion deal for WBD's streaming and studios division. If successful, the combined entity would control CBS, Paramount Pictures, HBO, Warner Bros., DC properties, and numerous cable networks.
Paramount+ Announces January 2026 Price Hikes and Free Trial Elimination
Paramount confirmed price increases effective January 15, 2026: Essential rising $1 to $8.99/month and Premium $1 to $13.99/month, with annual plans rising to $89.99 and $139.99. It also said it would phase out free trials, so new users are charged at signup. Paramount tied the increases to reinvestment in programming, including UFC fights included at no extra cost. Since the $5.99 CBS All Access launch, the entry-level price had increased by 50%.
Bari Weiss Pulls 60 Minutes Segment on El Salvador's CECOT Prison
A day and a half before broadcast, CBS News editor-in-chief Bari Weiss pulled a 60 Minutes investigation into abuses at El Salvador's CECOT prison, where the Trump administration had sent Venezuelan migrants, saying it needed an on-record administration interview. Correspondent Sharyn Alfonsi said the piece had cleared legal and standards review and called the decision 'not an editorial decision, it is a political one.'
Paramount Targets $3 Billion in Efficiencies as Paramount+ Reaches 79 Million Paid Subscribers
Paramount Skydance's Q4 2025 results showed Paramount+ revenue up 17% and 79 million paid subscribers, now counted without free trials. The company said it was on track for at least $3 billion in efficiencies through 2027, with more than $2.5 billion in run-rate savings by end-2026, and would return cash beyond its current dividend only after regaining investment-grade credit metrics.
Paramount Signs $110.9 Billion Definitive Agreement to Acquire Warner Bros. Discovery
Paramount Skydance and Warner Bros. Discovery announced a binding definitive merger agreement under which Paramount will acquire WBD for $31 per share in cash, valuing the company at approximately $110.9 billion in enterprise value ($81 billion equity). The deal, unanimously approved by both boards, topped Netflix's competing $82.7 billion offer and escalated the December 2025 hostile tender bid into a consummated agreement. The transaction is funded by roughly $47 billion in equity backed by the Ellison family and RedBird Capital, with the remainder in debt, and Paramount projected over $6 billion in synergies. The combined company would fold HBO Max, CNN, Warner Bros. studios, and DC properties under common ownership with Paramount+, CBS, and Pluto TV.
Paramount Plans to Merge HBO Max Into Paramount+
On an investor call about the Warner Bros. Discovery deal, CEO David Ellison said Paramount+ and HBO Max would be combined into one streaming service of about 200 million subscribers after the acquisition closes, with HBO kept as a brand. Executives gave no details on pricing and touted a combined sports lineup joining CBS Sports and TNT Sports.
Paramount+ Stream Crashes During UFC 326 Main Event
Paramount+ subscribers reported the service crashing and lagging throughout UFC 326, including during the Holloway-Oliveira main event, weeks after UFC moved from pay-per-view to Paramount+. Fans took to social media to complain about the reliability of the stream.
Paramount Shuts Down BET+ and Buys Out Tyler Perry's Stake
Paramount Skydance acquired Tyler Perry's 25% ownership stake in BET+ and announced the standalone streaming service would be phased out, with its more than 1,000 hours of programming moving into a BET Hub on Paramount+ starting in June 2026. BET+ had cost $5.99/month with ads, versus Paramount+'s $8.99 entry price. The move folded another of Paramount's own streaming services into Paramount+, following the 2023 absorption of Showtime.
CBS News Lays Off 6% of Staff and Shuts CBS News Radio
CBS News laid off about 6% of its roughly 1,100 employees and announced the closure of its 99-year-old radio service, the second round of newsroom cuts since Skydance took control. Editors Bari Weiss and Tom Cibrowski said parts of the newsroom must shrink to fund new investments.
Warner Bros. Discovery Shareholders Approve $110 Billion Paramount Merger
WBD shareholders voted to approve the $110 billion merger with Paramount Skydance, leaving regulatory review in the U.S. and Europe as the main remaining hurdle. In a non-binding advisory vote, shareholders rejected the executive compensation package tied to the deal, under which CEO David Zaslav could receive a payout of nearly $887 million.
Paramount Discloses $63 Million 2025 Pay Packages for Ellison and Top Executives
Paramount Skydance disclosed 2025 compensation of $63.2 million for CEO David Ellison, $60.7 million for departed president Jeff Shell, $63.6 million for chief legal officer Makan Delrahim (the former head of DOJ's Antitrust Division) and $48.5 million for COO Andy Gordon, mostly in sign-on stock vesting over five years. Its filing put Ellison's pay at 1,109 times the median employee's.
DOJ Clears Paramount-Warner Bros. Merger With No Divestitures
The DOJ Antitrust Division closed its eight-month investigation of the Paramount-WBD merger without requiring any divestitures or conditions, concluding the deal was 'not likely to harm competition or American consumers.' The Wall Street Journal reported that senior DOJ officials moved to clear the deal before the career staff lawyers investigating it — who were 'leaning' toward recommending an antitrust lawsuit to block the merger — could issue their recommendation. Roughly ten state attorneys general led by California and New York began preparing a suit to block the deal, while the U.K. CMA opened a Phase 1 probe and the E.U. Commission launched a Foreign Subsidies review of ~$24 billion in financing from Saudi, Qatari, and Abu Dhabi sovereign wealth funds.
Twelve States Sue to Block Paramount's Warner Bros. Discovery Merger
A dozen state attorneys general led by California sued in federal court to block the $110 billion merger, alleging it would lessen competition in theatrical film distribution and basic cable channel licensing and lead to higher prices and less content. The states won a temporary restraining order, and on July 24 Paramount agreed to hold off closing until a ruling on the merits or June 1, 2027.
Paramount+ Posts Record Retention as Ad Revenue Grows Over 30%
Paramount Skydance's Q2 2026 results showed Paramount+ adding about 2 million subscribers to 81.6 million, with its best retention and lowest churn quarter ever on the strength of UFC, Dutton Ranch and the World Cup. Paramount+ revenue rose 16% on about 6% subscriber growth and about 12% ARPU growth after January's price increases, and Paramount+ ad revenue grew more than 30%.
Paramount Settles States' Antitrust Suit Over Warner Bros. Deal Without Divestitures
California AG Rob Bonta announced a settlement, pending court approval, resolving the 12-state suit: a five-year enforceable commitment to raise film output, at least $1.5 billion more for domestic production, a $47.5 million fund for affected workers, and limits on cable negotiations. No businesses were divested. Paramount had threatened to leave California if the case was not settled by October 1, which Bonta called blackmail.
Judge Lets Critics Weigh In on Paramount Settlement Over Company's Objection
U.S. District Judge Araceli Martinez-Olguin granted motions from the Block the Merger coalition and LULAC to file amicus briefs on the states' settlement, likely delaying approval of the Warner Bros. deal. Paramount and WBD had opposed any comment process by non-parties as improper, as a $7 million-a-day ticking fee to WBD shareholders loomed from October 1.
Evidence (62 citations)
D1: User Value Erosion
D2: Business Customer Exploitation
D3: Shareholder Extraction
D4: Lock-in & Switching Costs
D5: Twiddling & Algorithmic Opacity
D6: Dark Patterns
D7: Advertising & Monetization Pressure
D8: Competitive Conduct
D9: Labor & Governance
D10: Regulatory & Legal Posture
Scoring Log (8 entries)
Checked 10 removed/trimmed claims: 1 restored, 4 partly restored, 5 confirmed removed, 0 already present. RESTORED: click-to-cancel petition 'arbitrary, capricious' wording (Variety 2024-10-24, timeline re-sourced). PARTLY RESTORED via new evidence: All Access ~1M subscribers in mid-2016 (AppleInsider 2016-07-29, >2M combined with Showtime OTT, evenly split; 2016 Shari Redstone-Moonves succession fight left out); All Access subscriber growth to 2.5M narrowed to Aug 2018, not early 2018 (TV Technology 2018-08-06); FY2023 $1.66B DTC loss (Yahoo Finance 2024-02-28) and Apollo $11B studio bid dated Mar 2024 (Variety 2024-03-20); South Park proposed 10-year $3B deal and Skydance's five-year limit (THR 2025-07-14). CONFIRMED REMOVED: '3-5 minutes of ads per hour' at 2021 Essential launch (only current-day blogs, conflicting figures); $13B content/79M subs vs Netflix $17B/310M for 2022 (Netflix figures contradicted for 2022); EmailTooltester retention-flow, ad-blocker and 60% claims (forums only); 'nearly doubling' price and satisfaction editorial (arithmetic contradicts); Market Report Analytics aggregator evidence (BI original unreadable, aggregator not a valid source).
Removed typed-in site scores from alternatives text (they go stale on re-score; the page shows live scores). No other changes.
Checked 100 items + prose. 36 verified, 48 corrected (16 date-only), 14 re-sourced, 2 removed (1 duplicate Common Sense item, 1 aggregator source). Invented: '60% of failed cancellations due to third-party billing' (timeline[26]); '16.9% average cancellation rate' (evidence[17]/D4). Also fixed wrong 2022 content-spend/Netflix comparison, 'for the first time' NFL streaming, $300-400M Showtime savings, Q4 2023 loss date, pricing-doubled claim, ad-load figures, Glassdoor rating, AI-generated AInvest/listicle sources, and Apple TV price.
60→53. Since Jun 2025: Skydance close (Aug 2025), UFC exclusive, 10% layoffs + 600 RTO buyouts, Weiss/CECOT, Jan 2026 price rises + no free trials, WBD $110.9B deal, HBO Max merge plan, DOJ clearance, 12-state suit (Jul 2026) settled Sep 21 without divestitures (not yet closed; amicus briefing Sep 24), CBS News 6% cuts, record Q2 retention, P+ ad revenue +30%, exec pay $63M (ratio 1,109:1). D1 7→5 (correction: fact audit removed satisfaction-survey and 'pricing doubled' support; catalog grew, retention at record), D2 6→5 (recalibration: creator spend up under Skydance; 2023-24 retroactive write-offs are era-scored), D3 7→5 (recalibration: layoffs not concurrent with record profits or buybacks; small dividend, rising content spend fits 4-5), D6 5→4 (recalibration: confirm-shaming + ad-free misdirection, no enforcement; ending trials is not a dark pattern), D7 7→5 (correction: fact audit cut ad load to ~3-7 min/hr; pressure is price/ARPU), D10 6→7 (event: Delrahim revolving door, DOJ clearance over staff, California exit threat during states' suit). D4/D5/D8/D9 unchanged. Eras: 2014-10-01→2014-10-28, 2019-12-01→2019-12-04, 2021-03-01→2021-03-04, 2023-07-01→2023-06-23 (originals pulled), 2024-06-01→2024-04-29 (Bakish ouster) re-dated and kept; 'Skydance Control Era' re-dated 2026-06-29→2025-08-07 (merger close), relabeled 'Skydance Takeover', and split at 2025-12-08 (hostile WBD bid) → 'Warner Bros. Pursuit'. Era D9 early eras raised for Redstone dual-class control (recalibration). Alternatives checked: Apple TV $14.99 and Tubi still accurate, no typed-in scores.
Periodic rescore: WBD hostile bid escalated to a binding $110.9B definitive agreement (shareholder-approved Apr 2026, DOJ-cleared without divestitures Jun 2026) plus BET+ shutdown/absorption drove D8 competitive conduct 5->7. Overall 58->60, remains Severely Enshittified, worsening.
Fixed Apple TV+ pricing: $9.99/month -> $12.99/month (raised August 2025)