Reported 8 months ago
Kevin Mayer, a close adviser to Disney CEO Bob Iger, stated at the Cannes Lions Festival that Paramount is currently impaired with a broken deal process and struggling as a company. Last week, a deal between Paramount and Skydance was unexpectedly scrapped, raising uncertainty about Paramount's future. The company is now facing challenges after recent leadership changes, and there are speculations about potential layoffs and strategic moves to improve profitability. Paramount's stock value has significantly declined over the past five years, indicating ongoing challenges in the industry.
Source: YAHOO