From CNBC: 2024-06-12 18:54:52

National Amusements ended merger talks between Paramount Global and Skydance, raising doubts about Paramount’s future in the competitive streaming and advertising market. Three new CEOs are working to steer the company out of trouble, focusing on strategic priorities outlined in a recent memo to employees. Paramount faces challenges in lowering its $14.6 billion debt and adapting to an evolving media industry.

After backing out of a merger deal with Skydance valued at $8 billion, National Amusements left Paramount facing an uncertain future. Other potential bidders have emerged, as Redstone explores selling her controlling stake without merging studio assets. Paramount’s new leadership team is focused on executing their strategic plan to cut costs, divest non-core assets, and explore streaming joint venture opportunities.

Paramount’s new leadership faces uncertainty after the failed deal with Skydance, with ongoing changes and speculation in the media industry. The team is working to streamline the organization, reduce non-content costs, and optimize asset mix while aiming to lower debts and return to investment-grade status. Executing these strategies will be crucial to Paramount’s success amidst industry challenges.



Read more at CNBC: Paramount Skydance deal ends. What happens next