![]() ![]() CNN Sans ™ & © 2016 Cable News Network.In simple terms, cost of goods sold (also called cost of sales), or COGS, is the cost of a product to its seller.Įlaborating a bit more, cost of goods sold is the cost (borne by the seller) of procuring, producing, or manufacturing products that are sold by a company, manufacturer, distributor, or retailer. Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. ![]() Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account In January, the news industry saw cuts at The Los Angeles Times, TIME and Business Insider, while staffers at Condé Nast, Forbes and The New York Daily News staged historic walkouts to protest planned cuts. ![]() Paramount is the latest media conglomerate to lay off staffers in 2024. “We set the high-water mark for ad sales for a Super Bowl, and it’s looking like on Sunday we’ll set an all-time viewing number with any luck,” Bakish said Friday in a Bloomberg TV interview. The network also broke advertising sales records for the big game. The media giant, which is attempting to transition its business from traditional linear television to streaming, announced Monday that CBS’s broadcast of Super Bowl LVIII broke ratings records with a staggering 123.4 million viewers, marking the largest US TV audience since the 1969 moon landing. Paramount declined to comment for this story. David Ellison’s Skydance and RedBird Capital have also made takeover offers. Discovery, met with Bakish and broached a potential merger between the two companies. In recent months, David Zaslav, the chief executive of CNN parent Warner Bros. ![]() The layoffs come amid reports that Shari Redstone, the family heiress of Paramount’s parent, National Amusements, has been in talks to sell her stake in the company. Pegues joined CBS News in 2013, reporting on the network’s broadcast platforms and hosted the podcast “America: Changed Forever.” Herridge, who joined CBS News in 2019 from Fox News, has been entangled in a First Amendment lawsuit over her refusal to disclose her source(s) for a series of 2017 stories she reported on during her time at Fox News. It was not known when their last day at the network would be. Senior investigative correspondent Catherine Herridge and chief national affairs and justice correspondent Jeff Pegues were notified Tuesday that they were being laid off, two people familiar with the matter told CNN. “These adjustments will help enable us to build on our momentum and execute our strategic vision for the year ahead - and I firmly believe we have much to be excited about,” Bakish wrote.Īmong those impacted by the layoffs were some of the highest-profile journalists at CBS News. The cuts will impact staffers around the world, with those in the US being notified by the end of business Tuesday, Bakish wrote. The announcement follows a January 25 memo in which Bakish warned that Paramount Global would “reduce our workforce globally” as part of “our path to earnings growth.” While Bakish did not specify the number of layoffs, sources familiar with the matter told CNN around 800 employees, or roughly 3% cut of the company’s workforce, will be affected. The company’s chief executive, Bob Bakish, announced the layoffs in a memo to employees Tuesday obtained by CNN. Paramount Global, the owner of broadcast and cable TV networks, announced Tuesday it will lay off hundreds of staffers as the media giant looks to reduce costs and grow revenue. The news comes just days after its CBS network saw record-breaking advertising sales and the highest-rated telecast for the Super Bowl. ![]()
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