ViacomCBS said Tuesday it will rebrand its CBS All Access video-streaming service as Paramount+ early next year.
Paramount+ will house fresh content from ViacomCBS’s Hollywood studio Paramount Pictures, as well as existing shows from sister networks CBS, BET, Comedy Central and MTV, among others.
Armed with a trove of new shows such as “The Offer,” a series about producer Al Ruddy’s experience making “The Godfather”; “The Real Criminal Minds,” a true-crime docuseries based on the existing CBS show; and a revival of BET’s “The Game.” Paramount+ jumps into a crowded streaming space that includes rivals like Disney+, Apple TV+, HBOMax, Hulu and Netflix.
“All the data suggests, and we’re still relatively early in the streaming world, that overwhelmingly people will subscribe to more than one service. It’s why differentiation and brand positioning is so important,” ViacomCBS CEO Bob Bakish told CNBC on Tuesday. “With Paramount+ we see that in spades.”
Currently, CBS All Access costs $5.99 a month with commercials and $9.99 per month without, though all of the service’s live programming includes advertising. It is unclear whether Paramount+, which leading up to the rebrand will house more than 30,000 TV shows and movies, will retain the same pricing.
Judge tosses quadriplegic defense in hedge fund manager sexual harassment case
A federal judge has ruled that being a quadriplegic did not necessarily stop a hedge fund manager from sexually harassing his employees.
Influential biotech investor Sam Isaly — who left his $15 billion hedge fund after a scathing report claimed he “perpetuated a toxic culture of sexual harassment” — has had his defamation suit against the publisher tossed.
The 75-year-old Isaly had sued the company behind the scandalous report, Boston Globe Media Partners, for defamation in 2018, claiming that a teenage wrestling injury that left constrained to a wheelchair with assistants to help him perform menial tasks made it impossible for him to have done the horrible deeds described in the report.
But Manhattan federal judge Laura Taylor Swain rejected the notion that Isaly’s condition prevented him from carrying out the alleged abuses, including “routinely subjecting young female assistants to pornography in the workplace, lewd jokes, and pervasive sexist comments.”
Isaly left OrbiMed in December 2017, a week after the article emerged in health care news site STATNews, citing five people who worked for Isaly between 2000 and 2015, including one male investment professional.
Isaly’s former assistant, Delilah Burke, told STATNews that she once found a “flesh-colored vibrator” sitting inside Isaly’s briefcase after he asked her to retrieve some files. Isaly then erupted in laughter, the report said.
“The vibrator thing is when I quit,” Burk told the publication. “It was just, ‘You’re disgusting. I’m leaving. This is it.’’
Isaly also liked to “sprinkle his to-do lists … with dirty jokes and cryptic setups that would expose Burke to something lewd on the internet,” including asking her to look up “kit kat shuffle,’’ a euphemism for masturbation, the report said.
Isaly, who has denied the allegations, claimed the reporter failed to adequately investigate whether his disability made it impossible for him to have done the things described.
But Judge Swain determined that the only real allegation against that required Isaly to use his hands was the pair of breast implants he allegedly palpated “like stress balls during idle conversation.”
On that topic, Swain noted that Isaly “discussed feeling the texture of such implants” in am extensive interview with STATNews, and that the reporter on the story had observed Isaly using his hands to eat with a fork.
Isaly’s lawyers say he intends to appeal the ruling. “The article didn’t just fail to tell its readers that Mr. Isaly is a quadriplegic,” said the statement by lawyers with Carter Ledyard & Milburn LLP. “It falsely suggested that Mr. Isaly’s only disability involved being ‘paralyzed’ and without ‘the use of his legs’ when in fact his disability is substantially greater and prevents him from doing many of the acts of which he has been falsely accused.”
WeWork sells control of China business to private equity firm
WeWork has sold a majority stake in its China business to a private-equity firm in the troubled office-sharing startup’s latest effort to cut costs.
The deal announced Thursday will hand control of the unit to Trustbridge Partners, which led a new $200 million investment for WeWork China. Trustbridge operating partner Michael Jiang will lead the unit as acting CEO, WeWork said.
WeWork will keep a minority stake in the Chinese business and collect an annual fee for the WeWork brand, the company said.
“Having watched the execution of WeWork in Greater China over the past few years, and the growing need for flexibility accelerated by the pandemic, Trustbridge firmly believes the demand that WeWork provides will only continue to increase,” Feng Ge, managing partner at Shanghai-based Trustbridge, said in a statement.
WeWork has moved aggressively to slash costs and focus on its core office-rental business since a series of scandals involving ex-CEO Adam Neumann derailed its plans for an initial public offering last year.
The New York-based company said last month that it had almost cut its cash burn rate in half and snagged a new $1.1 billion financing commitment from Japanese investment giant SoftBank, its biggest financial backer.
WeWork has more than 800 office locations around the world, including 103 buildings across China, according to its website. Its Chinese tenants include tech giants Tencent and Alibaba, according to CNBC.
With Post wires
Novavax stock soars after start of coronavirus vaccine trial
Novavax’s stock price surged Friday after the biotech firm started a key late-stage trial of its experimental coronavirus vaccine.
Shares in the Maryland-based company soared nearly 11 percent to $113.56 following its Thursday announcement that it kicked off the Phase 3 study in the United Kingdom, which is battling a surge in COVID-19 infections.
The trial aimed at proving whether Novavax’s vaccine is safe and effective will enroll up to 10,000 people over the next four to six weeks, the company said. The participants will range in age from 18 to 84 years old, with half getting two shots of the vaccine, known as NVX-CoV2373, and the other half receiving a placebo.
“With a high level of [coronavirus] transmission observed and expected to continue in the UK, we are optimistic that this pivotal Phase 3 clinical trial will enroll quickly and provide a near-term view of NVX-CoV2373’s efficacy,” Dr. Gregory M. Glenn, Novavax’s president of research and development, said in a statement.
Data from the trial will support Novavax’s applications for regulatory approval in the UK, the European Union and other countries, Glenn added. Novavax said it plans to publish the study’s full protocol in the coming days.
Phase 3 trials are currently underway in the US and Europe for four other potential coronavirus vaccines, including candidates from AstraZeneca, Pfizer, Moderna and Johnson & Johnson.
Pfizer and Moderna have said they could know by October or November whether their vaccines work, but US officials don’t expect a shot to be widely available until next year.
- Who to sit, start in Week 3?
- Belarus police detain dozens as crowds chant against Lukashenko
- Bill Maher Says Amy Coney Barrett Is ‘a F—ing Nut’
- The Future of Luxury Is in Wellness, Watches and Possibly Weed
- Jey Uso on facing Roman Reigns at Clash of Champions, why he prefers tag team wrestling and a rebirth of the Samoan SWAT Team
- Woman of faith who says religion has no place in rulings
- 2020 French Open TV, live stream schedule
- A white supremacist gang member was killed during a shootout with police in California
- Charlize Theron Shares Rare Family Photo with Daughters
- Is Akebia Therapeutics (NASDAQ:AKBA) Using Debt Sensibly?
Entertainment7 days ago
Danish TV show ‘Ultra Strips Down’ records kids eyeing naked adults
Sports News2 days ago
US Olympian Chloe Dygert crashes over guardrail in cycling accident
Sports News3 weeks ago
Fantasy Football Auction Draft strategy: Tips, advice for spending your 2020 player budget wisely
Sports News3 weeks ago
NBA 2K21 Cover Star Damian Lillard Reveals His Issues With the Game
Sports News5 days ago
Fantasy Football Buy-Low, Sell-High Stock Watch: Leonard Fournette, Stefon Diggs among movers heading into Week 3
Tech5 days ago
iOS 14 basics: how to add widgets to your iPhone’s home screen
Sports News3 weeks ago
NBA playoff bracket 2020: Updated standings, seeds & results from each round
Sports News2 weeks ago
NFL Analyst Takes a Cheeky Dig on Browns Stars Odell Beckham Jr. and Baker Mayfield