Reported 2 months ago
Paramount Global reported its first profit from its streaming segment while announcing a 15% layoff of its US workforce, alongside a nearly $6 billion write-down on its cable business. Despite the significant losses in its linear TV revenue, the company saw improvements in its direct-to-consumer sector. Paramount also prepares for its merger with Skydance Media, expected to be completed by late 2025, amidst strategic cost-cutting initiatives.
Source: YAHOO