Reported 11 months ago
Paramount Global is moving forward with asset sales to reduce debt, with bankers hired to streamline operations. Reports suggest discussions about potentially selling the Paramount lot and leasing it back with a buyback option. The company is exploring various options, including selling non-core TV stations and potentially partnering with a tech platform for Paramount+. Layoffs are expected, with a focus on cutting costs by $500 million, but no decisions have been made on the final number of job cuts. Debt repayment and potential mergers and acquisitions are being considered, but any significant moves are unlikely before the next U.S. presidential election.
Source: YAHOO