The future of CBS Sports parent company Paramount is now arguably more muddled than ever, as an $8 billion merger with Skydance Media appears no nearer to closing, and the company is now shedding more employees. 

Earlier this year, Paramount said it intended to close the large-scale deal with Skydance by the end of June. With less than three weeks to go before that target, the pact remains decidedly in limbo. Getting to closing requires Federal Communications Commission approval, and that assent is likely conflated with settling an ongoing legal battle between CBS News and U.S. President Donald Trump. 

Multiple reports have suggested a potential settlement under discussion that would see an eight-figure payout to Trump to resolve claims the network engaged in election interference by manipulating a 60 Minutes interview with Democratic challenger Kamala Harris. Former CBS Evening News anchor and 60 Minutes correspondent Scott Pelley, however, cautioned against such an agreement, even if it paved the way for the larger Skydance deal.

“It will be very damaging to CBS, to Paramount, to the reputation of those companies,” Pelley said on CNN. “I think many of the law firms that made deals with the White House are at this very moment regretting it. That doesn’t look like their finest hour.”

Paramount, meanwhile, said Tuesday that it will cut 3.5% of its domestic workforce, amounting to several hundred employees, in another round of layoffs, mirroring similar reductions recently at other major media companies such as Disney and Warner Bros. Discovery. The latest round of staff cuts at Paramount also follows a 15% reduction last year.

“These changes are necessary to address the environment we are operating in and best position Paramount for success,” company co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins wrote in a staff memo.

Could the NFL Back Out?

Though CBS Sports has a broad portfolio of programming, including its shared March Madness coverage with TNT Sports, its NFL rights are a bedrock of the company and will be in any future iteration of the network. In the near term, that’s particularly true as CBS shows the largest number of games involving the Chiefs, the league’s top viewership draw. 

The NFL, however, has a clause that would allow it to open up its rights deal with CBS if there is an ownership change. In the case of Skydance, there is little immediate concern about that partner coming in, as the league has a broad-based partnership that includes shared ownership of the studio’s sports vertical. 

Still, any ownership change would be reviewed, NFL commissioner Roger Goodell said last summer.

“We’re obviously paying close attention to the process,” Goodell said then. “We know Skydance. They’ve done a terrific job with our relationship. So we’ll look at the structure of the deal. We’ll see how it impacts us. We’ll see how it impacts our business, and we’ll make the best decision for the NFL at that point.”

Skydance’s backers also include the billionaire Ellison family and RedBird Capital Partners.

Editors’ note: RedBird IMI, of which RedBird Capital Partners is a joint venture partner, is the majority owner of Front Office Sports.

Academy Sports + Outdoors has made notable tech investments that have enabled store associates to better help shoppers and drive sales at the same time.

In Tuesday’s conference call to Wall Street after posting first-quarter results, company CEO Steve Lawrence said, “We, like most people in our business have been dealing with the fluid situation [regarding tariffs]. It’s created a lot of complexity in how we forecast and manage our business on a day-to-day basis.”

While there have been adjustments in sourcing and supply chain, such as moving the production of goods out of China and working with vendor partners on strategies, as well as a look at capital allocation, it’s the company’s technological investments that are improving the customer experience at both the store level and online.

“We would attribute the momentum we’re starting to build in the business to the solid progress we’re making against our long-term objectives and goals,” the CEO said, adding that one of those goals is the expansion of its store base. “We’ve thoughtfully slowed the pace of signing deals for 2026 new stores. This will allow us to get a better handle on how the current tariff situation will impact construction costs moving forward,” he explained. “At this point, we don’t expect it to change the overall number of new stores, but it will shift the timing of openings that were originally targeted for Q1 into Q2 or Q3.”

Lawrence said work in the first quarter was focused on streamlining and improving the internal search functionality of Academy’s website. At the same time, it also has grown its aisle offering with an expanded assortment online that’s being supported through drop-shipping.

The big change has been the addition of handheld devices, which have kiosk functionality integrated into them.

“With this new capability, if a customer cannot buy something in a store and we own it somewhere in the chain, we can save the sale and get the customer what they need by shipping it to their home or to their closest store for both pickup, whichever is most convenient for them,” he said. “As stores have started to use this new technology, we’re seeing their save-to-sale revenue increased 900 percent on average per store.”

Another technological enhancement that improves the shopping experience has been the rollout of RFID scanners to all stores. The project — including the addition of the handheld devices for store associates — began in the spring and was completed at the end of May.

“Simplistically, we’re leveraging RFID chips already embedded in products with key brands such as Nike, Jordan and Adidas,” he said. Academy piloted the technology in 70 stores last year, finding that the use led to a 20 percent improvement in store level inventory accuracy.

“Rolling this technology to all stores will help improve our in-stocks, which ultimately will lead to increases in conversion. As we move through 2025, we expect to add more brands for regular RFID accounts, such as Levi’s, Under Armour, Columbia, Brooks and Puma,” Lawrence said. “Looking into next year, our goal is to embed RFID tags in most of our private label products, along with working with other national brand suppliers to follow suit where it makes sense.”

He also said that when Academy launched the Jordan brand in 145 doors and online on April 23, the specialty chain for the first time cross-merchandised apparel, footwear and accessories together by gender into a “branded shop concept.” So far, the initial reaction from customers has been strong and the brand is tracking ahead of initial sales plans. With the planned expansion of key items, such as cleats for football season and launching Jordan in all stores later this summer, “We anticipate the Jordan brand will be a Top 20 brand for us by the end of the year,” Lawrence told analysts.

Another plus for the retailer has been its new loyalty program, which the CEO said helps to drive value for the consumer. “We’re planning to add an additional 2 million customers to myAcademy Rewards in 2025, which should take us to over 13 million members by yearend. Growing our loyalty program membership will drive growth for us both now and in the long-term,” he said, noting that the more engaged customers tend to “shop Academy two to three times more in a year than an average customer and spend four to five times more on an annual basis.”

Academy has been working with suppliers on a case-by-case basis — its branded partners each have a different exposure to tariffs based off their unique supply chains — and believes it has mitigated the impact from tariffs. Lawrence did say that if reciprocal tariffs at the higher levels were to go back into place, such as the 145 percent for China, “prices are going up virtually on everything.” And while the company’s goal is to maintain its value positioning, he said a return to higher levels would likely result in some price increases to offset margin erosion.

In a telephone interview, Matt McCabe, executive vice president and chief merchandising officer, said that customers have been “very receptive” to the Jordan brand, which is “exceeding our plan since the launch date, and we expect that to really take dividends as we head towards back-to-school.” He said it was too early to tell how much of the selling can be attributed to the growing traffic from the higher-income, trade-down customer.

McCabe also said that what has been driving traffic over the past few quarters “has been the upgrade to the retailer’s assortment mix to include more better and best level product.” That includes the retailer selling brands such as Brooks, and the higher-end Nike footwear, as well as growing its presence in running, in both the sports and recreation options.

And while retailers sometimes pull back on initiatives given the uncertainties in the retail landscape, McCabe said that’s not the case with Academy. “In terms of new initiatives to drive our business, we haven’t pulled back on that at all,” he said, adding that in the case of the Jordan Brand, “we are still full steam ahead.”

McCabe said Academy has a “really strong, softlines business, both in apparel and footwear. Footwear is actually the strongest.” He also said the expanded its Nike footprint on its sales floor by 20 percent, “where we now have vignettes where you can shop things like running and training.”

The world of sports is a relentless, ever-shifting beast, constantly redefining itself with new challenges, technologies, and fan engagements. From the thunderous roar of the crowd at a major championship to the quiet intensity of an athlete’s personalized training regimen, the essence of competition remains, but the avenues through which it’s experienced and analyzed are transforming at an unprecedented pace. As we hurtle through 2025, several key trends are shaping the future of athletic endeavor and the profound ways we interact with it.

One of the most impactful revolutions sweeping through sports is the integration of Artificial Intelligence (AI). AI is no longer a futuristic concept but a tangible tool actively enhancing performance and strategy. Machine learning algorithms pore over vast datasets, analyzing everything from player biomechanics to opponent tendencies. This granular insight allows coaches to craft hyper-personalized training programs, optimize game-day strategies, and even predict injury risks with remarkable accuracy. Wearable tech, powered by AI, provides real-time feedback, enabling athletes to fine-tune their movements and maximize their potential. The days of purely intuitive coaching are giving way to a data-driven approach, where every sprint, every pass, every shot is meticulously analyzed to unlock new levels of athletic prowess.

The global landscape of sports is also influencing how fans engage with the games they love. The rise of digital platforms and immersive technologies like virtual reality (VR) and augmented reality (AR) are bringing the action closer than ever before. Imagine experiencing a crucial goal from the striker’s perspective in VR, or having real-time player statistics overlaid onto your stadium view via AR. This pushes fan engagement beyond passive viewership, creating interactive and personalized experiences. Similarly, the growing legality and accessibility of sports betting are adding another layer of interaction for many enthusiasts. For those looking to deepen their engagement, exploring reputable betting sites in Canada offers a legal and regulated avenue to place wagers on their favorite teams and athletes, further intensifying the excitement and personal stake in the outcome of games. This evolving relationship between fans and the sport, driven by technology and accessibility, is creating a more dynamic and interactive landscape for everyone involved.

Beyond the field of play, the mental fortitude of athletes is finally receiving the long-overdue attention it deserves. The immense pressure to perform at an elite level, coupled with constant public scrutiny and the demanding travel schedules, can take a significant toll on mental well-being. Organizations and teams are increasingly investing in comprehensive mental health support systems, recognizing that a healthy mind is as crucial as a healthy body for sustained success. From dedicated sports psychologists to peer support programs, the stigma surrounding mental health in sports is slowly but surely eroding, paving the way for athletes to openly seek help and prioritize their psychological well-being. This holistic approach to athlete development is not just about performance; it’s about fostering resilient individuals capable of navigating the highs and lows of a high-stakes career.

Looking ahead, the evolution of sports promises to be as thrilling as the games themselves. We can anticipate even more sophisticated AI applications, pushing the boundaries of human performance and strategic innovation. Fan engagement will continue to become more immersive and personalized, blurring the lines between spectator and participant. As the world of sports continues to embrace technological advancements and prioritize athlete well-being, the future holds endless possibilities for how we play, watch, and connect with the universal language of competition. The arena is truly ever-evolving, and the game is just getting started.

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In a landmark day for media, Warner Bros. Discovery proclaimed it will split into separate entities, breaking up its global networks (including TNT Sports and Bleacher Report) from its streaming and studios properties.

The deal, expected to close mid-2026, isn’t unexpected — but the timing is.

“It seemed to have been well telegraphed that they were going to go down this path,” said Naveen Sarma, S&P Global’s managing director. “The timing of the announcement was a bit of a surprise. We thought it would happen later this year.”

The majority of WBD’s $37 billion debt will head to Global Networks, helmed by the company’s new president and CEO, Gunnar Wiedenfels (current WBD CFO). WBD CEO David Zaslav will run the streaming and studios business.

“They’re trying to manage the decline of linear television and the ability to get the streaming/studio business sustainable,” said Sarma. “If they think that next year is the right time that they’ll be cash-flow break-even on that business, maybe that’s the way they did the math, because clearly linear is declining at a much more rapid rate than we thought six months ago.”

The linear business (Global Networks) will keep the company’s sports rights, which now includes properties like the NCAA Men’s Basketball Tournament, NHL, NASCAR, Roland-Garros, MLB, Big East basketball, Unrivaled and a sublicensing agreement with ESPN for the College Football Playoff. Those properties primarily air across TNT, TBS and truTV.

“I would call cable the soon-to-be-forgotten stepchild of the different broadcast distribution menus,” said Sarma. “If you’re a sports league, you want to be on broadcast networks, because you get the broadest reach. When you think of tonnage, you really want to be on streaming. That used to be cable.”

Added Sarma: “It sounded like sports was going to go on HBO Max, but how is that going to benefit the new cable ‘SpinCo’? It isn’t, other than the fact they may get [carriage] fees. That puts them in a really tough position.”

The companies will have one advertising sales team that will work across both entities and there will also be content-sharing agreements that allow programming to be shared across both platforms.

What does the future hold?

What Zaslav announced today might look different down the road, especially when it comes to sports.

“[WBD] made a comment about how sports was going to stay with the linear TV business, but then decisions would be made down the road,” said Sarma. “I’m not sure what that meant. Does that mean that they put it on their own streaming service or they decide to walk away from it eventually?”

The WBD breakup comes after Comcast/NBCUniversal made its own moves into two separate companies, though that split may be better overall than WBD’s. “Comcast is still keeping two of the better assets,” said Sarma, pointing to NBC’s broadcast network and the Bravo library (which includes the cash-printing “Real Housewives” franchise).

Where WBD might have a bit of an “advantage” is the global portfolio and sports rights overseas, which is not experiencing the same declines in viewership or cord-cutting as in the U.S.

“In theory, it’s a better, more diversified business, which in theory should have better results because advertising overseas isn’t falling off a cliff,” said Sarma. “The metrics for the Warner linear TV business — advertising is dropping in double digits. They’re losing a billion dollars a year in EBITDA. You’d think with the diversification the numbers would be better, but they’re clearly not very good.”

For other large media companies, don’t expect to see a similar split with Disney and ESPN, though it could remain a possibility for Paramount if the Skydance Media merger closes. “CBS is probably a keeper, but the rest of the linear networks could do something similar,” said Sarma.