Judge sides with Sony in 'Wheel of Fortune' and 'Jeopardy!' fight with CBS [Yahoo! Finance]
Paramount Global - Class A (PARAA)
Company Research
Source: Yahoo! Finance
Sony terminated its distribution deal with CBS in August and later filed a breach-of-contract lawsuit that claimed the Paramount Global-owned broadcaster entered into unauthorized licensing deals for the shows and then paid itself a commission. The suit in Los Angeles Superior Court also alleged that CBS licensed the shows at below-market rates and failed to maximize advertising revenues. “The court believes that Sony had the right, in its discretion, to terminate the distribution agreements,” Judge Kevin Brazile wrote in his order denying CBS' bid for a preliminary injunction that would have blocked Sony. CBS has long handled the distribution of "Jeopardy!" and "Wheel," which are owned by Sony and produced on the studio's Culver City lot. As viewing of traditional TV has declined due to competition for streaming in recent years, the two daily game shows have continued to thrive and are among the most-watched programs in television. CBS plans to appeal the ruling. The company
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