Latest news with #Redstone
Business Insider
2 days ago
- Business
- Business Insider
Murdoch stood up to Trump. Did Paramount fold?
A shocking change in late-night TV. A salacious story about Jeffrey Epstein. What do they have in common? Donald Trump. Specifically, Trump's use of the Presidency to bend media companies to his will. It's a power he's used so effectively in his second term that any threat he makes has to be taken seriously. And that any decision a big media company makes will be seen through a Trump-colored lens, regardless of the facts — which ends up increasing that power. In the case of Paramount's call to end Stephen Colbert's late-night show, there's no evidence that the company's current owner, Shari Redstone, made the move to appease Trump by kiboshing a TV host who routinely rips into the president. The same goes for Larry Ellison and David Ellison, who plan to buy Paramount via their Skydance studio. Paramount itself took pains to say the decision was "purely a financial decision against a challenging backdrop in late night." And as we constantly note here, late-night TV — and all TV — is very much challenged: Ratings for just about any conventional TV programming that isn't the NFL are shrinking. And the viewers who watch late-night shows like Colbert's have been dwindling, and aging, for years. Subtract Trump from the story, and this would be just another signpost telling us that the internet has supplanted TV. And that the TV industry doesn't know how to deal with it other than a never-ending series of cuts and garage sales. "Over the next few years, we expect virtually all linear TV programming outside of sports and news to shift to catalog content and reruns of what appeared on streaming; there simply will not be a business model to support original entertainment programming on linear TV," Lightshed analyst Rich Greenfield wrote in a research note Friday morning. The thing is, Trump is all over the story. That's because Redstone has already paid a $16 million ransom to Trump, in order to settle a seemingly spurious lawsuit he filed about a "60 Minutes" interview with Kamala Harris last fall. And the Ellisons, who plan to buy Paramount if the Trump-controlled Federal Communications Commission signs off on the deal this fall, are already deeply enmeshed with Trump. Larry Ellison, who Forbes says is now the second-richest man in the world, is a longtime Trump donor whose Oracle software company is doing lots of Trump-blessed business these days. His son David, who will run Paramount, has been actively seeking Trump's blessing — which is presumably why he was spotted hanging out with Trump ringside at two UFC matches this spring. So is there a world where Redstone agreed to move out Colbert as a way to placate Trump — or to do so on behalf of the Ellisons, for the same reasons? So far, there's zero reporting out there making that case. But plenty of people immediately wondered out loud if it was so, including Senators Elizabeth Warren and Adam Schiff, who both put out statements Thursday night wondering if Colbert's show was killed for "political reasons." (Paramount declined to comment beyond its initial press release. A rep for Skydance, the Ellison-owned company that will control Paramount if the sale goes through, also declined to comment. Trump, meanwhile, applauded Colbert's cancellation: "I absolutely love that Colbert' got fired. His talent was even less than his ratings. hear Jimmy Kimmel is next," he posted.) But if you're looking for more evidence that Trump expects America's media companies to do what he wants, you didn't have to look very hard on Thursday. After The Wall Street Journal published a story about a racy poem and drawing Trump allegedly gave to disgraced financier Jeffrey Epstein, Trump announced that he had told both Emma Tucker, the Journal's editor, and Rupert Murdoch, who owns the paper via his News Corp., not to publish the report. Because they did, Trump said Thursday night via his Truth Social platform, he would sue Murdoch and his publications. "I look forward to getting Rupert Murdoch to testify in my lawsuit against him and his "pile of garbage" newspaper, the WSJ.," Trump added in a follow-up post Friday morning. Will Trump actually do that? On the one hand, Trump is well-known for threatening media companies with lawsuits, and throughout his career has sometimes followed up. He's never actually filed a suit while he was president, however. And up until last year, he didn't have much luck with the suits he did file. That changed last fall, after Trump's reelection. Since then, we've seen a series of media and tech companies settle Trump's suits with multimillion-dollar payouts — settlements most legal experts say those companies would never have offered if he didn't have the power of the presidency behind him. Which in my mind gives his current threat much more currency — even though it would end up pitting Trump against the man who also owns and controls Fox News, an outlet Trump watches constantly, and uses to staff his administration. There's no point in speculating what would happen if Trump does follow through with his suit (the White House press office, asked for comment, referred me to Trump's Truth Social posts). But we don't have to speculate about Trump's presence in media boardrooms and everywhere else — he's in everyone's heads, whether they like it or not.
Yahoo
3 days ago
- Business
- Yahoo
HaysMac appoints new audit director in property division
UK-based accountancy, tax, and advisory company HaysMac has appointed Sarah Redstone as audit director within its property division. The company said the appointment is aimed at better supporting developers, investors, and real estate investment managers in addressing the challenges and opportunities within the industry. HaysMac managing partner Natasha Frangos said: 'We are thrilled to welcome Sarah to our property team. 'As we accelerate our growth in the property sector, Sarah's expertise will be instrumental in delivering outstanding value and insight to our clients.' Redstone has 12 years of experience specifically in the property and construction industries, having worked extensively in transactions and advisory roles. Her background includes managing complex audit engagements according to both IFRS and UK GAAP, as well as leading various statutory and non-statutory audits for a wide range of clients. In her career, she has been responsible for overseeing the execution of multi-team projects and has acted as the main point of contact for clients regarding both technical and strategic issues. Her skill set also covers internal control assessments, group reporting, and working closely with teams across different functions, including tax and corporate finance. Redstone said: 'I'm delighted to be joining HaysMac at such an exciting time. The firm's deep sector focus, innovative culture, and commitment to client success make it the ideal place to make an impact. 'I look forward to collaborating with the team and helping our clients navigate the evolving challenges of the property and construction landscape.' "HaysMac appoints new audit director in property division" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
CTV News
3 days ago
- CTV News
Calgary police investigate shooting in Redstone
A Calgary Police Service logo is seen on a vehicle parked at headquarters in Calgary, April 9, 2020. THE CANADIAN PRESS/Jeff McIntosh Calgary police are investigating after shots were fired in the northeast community of Redstone. At 3:04 a.m. Thursday, police said several shots were fired into a parked car in the 100 block of Red Sky Green N.E. No injuries have been reported. Officers are at the scene and there is no risk to the public. Further details are expected later in the day.
Boston Globe
03-07-2025
- Business
- Boston Globe
Shari Redstone's thumbs-down finale at National Amusements
➕ A guide to enjoying the Fourth of July. 🆕 The Latest US employers An investigation into Massachusetts is trying once again to 💵 A sell-out The show is almost over for National Amusements, the entertainment conglomerate with humble beginnings as a Dedham drive-in movie theater chain. Unlike most Hollywood endings, this one is a downer. Shame on Shari Redstone. Recap: Redstone is the daughter of Advertisement On Tuesday, Paramount Global, controlled by Shari Redstone, said it agreed to pay $16 million to settle Why it matters: It's impossible not to see this as an unabashed payoff intended to win the Federal Communications Commission's approval of Redstone's multibillion-dollar deal to sell Paramount to Skydance Media, the studio behind movies including 'Top Gun: Maverick' and 'Mission: Impossible - Dead Reckoning Part One.' Everyone involved denied the settlement was a quid pro quo. If you believe that, I have some Trump meme coins to sell you. Advertisement In a $10 billion lawsuit against CBS last year, Trump alleged that '60 Minutes,' part of CBS News, deceptively edited the Harris interview in order to interfere with the election. Legal experts said Trump's chances of winning the case were slim to none given CBS's First Amendment protections for what was considered routine editing. But his election victory in November gave him enormous leverage over Redstone. Reaction: 'With Paramount folding to Donald Trump at the same time the company needs his administration's approval for its billion-dollar merger, this could be bribery in plain sight,' Massachusetts Senator Elizabeth Warren 'CBS and Paramount Global realized the strength of this historic case and had no choice but to settle,' a spokesperson for Trump's lawyers said. The president was holding 'the fake news accountable,' the spokesperson said. Of course, the lawsuit was all about putting the news media under the president's thumb. 'The enemy of the people' — Trump's words — is a power base Trump wants desperately to neutralize, along with other perceived foes such as elite universities and big law firms. Columbia University and law firms including Paul, Weiss, Rifkind, Wharton & Garrison have already caved. Harvard University had no choice but to come to the negotiating table, though it also is battling the White House in court. 'The President is using government to intimidate news outlets that publish stories he doesn't like,' the conservative editorial board of For what it's worth: The two points I'd like to make here may seem obvious but are worth repeating. Advertisement First: The ownership of news outlets by big corporations is a double-edged sword. Yes, they can provide financial shelter from devastation wrought by Google and Meta — and the brewing storm coming from artificial intelligence. But they also own bigger — and more profitable — businesses that need to maintain at least a civil relationship with the federal government. That's why Disney ended Trump's dubious defamation case against ABC News by agreeing to 'donate' $15 million to the presidential library, and why Meta, the parent of Facebook, coughed up $25 million to settle a Trump lawsuit over the company's suspension of his accounts after the Jan. 6 attack on the US Capitol. Second: Private sector extortion — multiple law firms promised $100 million in pro-bono work for causes favored by Trump — dovetails with the president's use of the power of the office to make money for himself and his family. Trump's crypto ventures, including the shameless $TRUMP and $MELANIA meme coins, have added at least $620 million to his fortune in a few months, Shari Redstone's $16 million payment is chump change by comparison. And it makes perfect business sense. It smooths the way for National Amusements to salvage at least $1.75 billion from the sale of its stake in Paramount. Sumner Redstone, a consummate dealmaker, would have done the same thing. Skydance, by the way, was launched by another child of a billionaire, David Ellison. Advertisement His father, Larry Ellison, founded software giant Oracle and is worth nearly $250 billion. Oracle is negotiating to take a role in the sale of TikTok by its Chinese owner, a transaction being orchestrated by Trump. Small world, eh? Final thought: After nearly 90 years in business, National Amusements, now based in Norwood, is going out with a whimper, not a bang. The company has struggled with heavy debt, declining cable network profits, and huge costs for building out its streaming business. Paramount's market value has dropped to $9 billion from $26 billion when Viacom recombined with CBS to form the new company in 2019. To get the Skydance rescue deal done, Redstone, 71, sold out the journalists at CBS News — the onetime home of Edward R. Murrow and Walter Cronkite, and still one of the most respected names in the business. That's one bummer of an ending. Michael Redstone (left), founder of National Amusements, with his son Sumner standing next to him, in 1965. They were showing off a rendering the company's future Cleveland Circle theater. fay foto/PDFPAGES 🎙️ On the Record ' 'I think news and information in any city is as vital as water, electricity, and gas.' Michael Moritz, a former journalist and successful venture capitalist, on his decision to combine The San Francisco Standard, a local news organization he cofounded, with Charter, a digital publication focused on the future of work. 🏥 Hospitals 🧪 Life Sciences 🎓 Higher Education 🗝️ Housing Advertisement 👨⚖️ Legal Matters 🔢 By the Numbers -13 percent — The decline in Last year's Boston Pops Fireworks Spectacular. Andrew Burke-Stevenson for The B 🎆 The Closer Friday is July 4th. Which means fireworks. Which means deciding where you might want to see fireworks. You can find And from our friends at the Starting Point newsletter, Please have a fun and safe holiday. Thanks for reading. Trendlines will be back on Monday. 🎂 Happy birthday . 📬 Delivered Mondays and Thursdays. Larry Edelman can be reached at
Elle
02-07-2025
- Entertainment
- Elle
How Fashion Fell in Love With Toys
Style Points is a column about how fashion intersects with the wider world. The newest It accessory isn't a sleek East-West bag or a viral shoe. It's something far more playful: a fuzzy-haired doll that dangles from a model's arm on the runway, or a stuffed rabbit clutched as casually as one might tote a Le Teckel. For fall 2025, these puckish accessories were anointed as the runway's most surprising phenomenon. At Fendi, they came in the form of Cabbage Patch Kids-like dolls, while Kenzo and Simone Rocha turned stuffed animals into bags and clothing. And at Coach, Stuart Vevers ushered bunny slippers and a menagerie of assorted cute critters onto the catwalk. Not to mention the trendy Labubu dolls swinging from designer bags all throughout fashion month. Ruby Redstone, a fashion historian and author of the Substack newsletter Old Fashioned, has been a self-described 'super-nerdy major toy collector' her whole life. For her, collecting toys was an introduction to the world of artists like Yoshitomo Nara and Takashi Murakami. Normally, when parsing fashion's current mood, Redstone avoids painting with a broad brush. 'I tend not to say, 'We're looking for cute stuff because the world is hard and sad.' But I do feel like we're in a rather extreme case of that right now,' she says. 'The more tough things get politically, it seems, the more everyone is drawn to these dopamine-inducing cute things that we can sell. And I'm not mad about it. It's a trend that I'm completely at peace with, because it does bring me joy.' For Lucy Bishop, a specialist in handbags and fashion at Sotheby's, the trend is 'absolutely connected to consumers embracing escapism to distract themselves from the pressures of modern life. The childlike comfort factor these playful designs bring is a welcome distraction.' It's also driven by the voracious appetite millennials and Gen Z have for nostalgia, whether it's the Y2K revival or assorted '90s trends. Redstone notes that they 'came of age with Hello Kitty and UglyDolls, and now they're looking at it with rose-colored lenses because they didn't experience it or couldn't participate in it the first time around—and now they can.' Powered by nostalgic yearning, people are also snapping up past luxury crazes in this vein, like the Fendi Bag Bug charm or Givenchy's Bambi keychains. (Going yet further back, Bishop points to the offbeat designs of Franco Moschino and Jean-Charles de Castelbajac.) All of this might feel at odds with fashion's recent focus on quiet luxury, capsule wardrobes, and office-ready dressing. For several seasons, young people have been obsessed with looking more adult and put-together, but a general fatigue seems to have settled around this idea. If the totems of adulthood, including homeownership and stable jobs, are increasingly out of reach, why not replace them with totems of a more innocent time? (Interestingly, Bishop notes that just as we have tweens who are obsessed with adult beauty products and elaborate skin care routines, 'we are witnessing consumers in their 20s, 30s, even 40s become obsessed with childlike products. The roles seem to have been reversed.') That said, Redstone reminds me that a penchant for winsome decoration dates far further back than the heyday of the Bag Bug. 'In the Middle Ages and the Renaissance, you had women making chatelaines, which were essentially key chains that attached to your waist. They had useful things on them, like scissors and an eyeglass.' But people still decorated them with jewelry and charms, she says. 'This idea of adding little charms that 'show a piece of our personality' is essential to human nature—but showing our personality specifically through a plastic toy is quite contemporary.'
