Katzenberg’s WndrCo Raises $460M, Paramount CEO Office Outlines Plan and Diddy Sells Stake in Revolt

Plus: Daily Beast Editor in Chief Tracy Connor exits, Lionsgate and Nielsen partner for FAST viewership metrics and Max hikes prices on ad-free tiers [Jeffrey Katzenberg]( [Jeffrey Katzenberg's WndrCo Raises $460 Million to Invest in 'High-Potential Companies']( By Sharon Knolle Jeffrey Katzenberg and WondrCo partner Sujay Jaswa have raised $460 million for the venture capital company’s seed and venture funds, they announced Tuesday. The duo touted the moment as “a milestone that allows us to continue supporting visionary entrepreneurs and innovative companies at every stage of their journey,” in a statement posted to their site. [Read More]( --------------------------------------------------------------- [Paramount office of the CEO; George Cheeks, Chris McCarthy and Brian Robbins, with Shari Redstone]( [Paramount Office of the CEO Plan Includes Streaming Partnerships, Cost Cuts and Divesting Assets]( By Lucas Manfredi Paramount’s Office of the CEO laid out its highly anticipated long-term strategic plan on Tuesday designed to help the struggling media conglomerate reduce its $14.6 billion in long-term debt, return to investment grade metrics after a credit downgrade to junk status, and drive revenue and earnings growth. The broad strokes of the plan, which were unveiled by Chris McCarthy, Brian Robbins and George Cheeks at Paramount’s annual shareholder meeting, focuses on three pillars: transforming streaming, streamlining the organization to reduce non-content costs, and “optimizing” its asset mix to pay down debt. [Read More]( --------------------------------------------------------------- [Sean "Diddy" Combs at the 2023 Met Gala]( [Sean 'Diddy' Combs Sells Majority Stake in Revolt Amid Sex Trafficking and Assault Allegations]( By Lucas Manfredi Sean “Diddy” Combs sold his majority stake in Revolt, a media company he founded focused on creators shaping Hip Hop and youth culture. The rapper and media mogul, who served as Revolt’s former chairman, has fully redeemed and retired his shares in the company. Revolt did not disclose how much Combs was paid for the stake. [Read More]( --------------------------------------------------------------- [IAC and The Daily Beast]( [Daily Beast Editor in Chief Tracy Connor Exits Amid Broad Leadership Shakeup]( [Lionsgate, Nielsen Partner for First-Ever FAST Viewership Metrics]( [The new logo for Max, Warner Bros. Discovery's replacement for HBO Max]( [Max Hikes Prices on Ad-Free Tiers]( ['We Were the Lucky Ones' Stars Joey King and Logan Lerman on Resilience, Heartache and the Power of the Human Spirit | Digital Cover]( --------------------------------------------------------------- [WrapPRO logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](