Paramount reveals plan to cut jobs, explore streaming partnerships, and divest assets

From CNBC: 2024-06-04 10:14:58

SAG-AFTRA members strike outside Paramount Studios. Paramount Global reveals go-forward plan at annual shareholder meeting. Current leadership aims to explore streaming joint ventures, cut costs, and divest noncore assets. Merger framework with Skydance Media awaits Shari Redstone’s approval. Plan aims to lower debt and restore investment-grade rating. Paramount shares fall 2% at news. CEO office emphasizes growing content, cutting spending, and reducing debt. Paramount considers partnerships with streamers and content licensing. Divestment of assets also under consideration.



Read more at CNBC: Paramount outlines job cuts, streaming JV plans at annual meeting