Paramount leadership team outlines job cuts, streaming JV plans at annual meeting
Publishing timestamp: 2024-06-04 10:14:58
Summary
Paramount's leadership presented a plan at the annual shareholder meeting outlining the future of the company if a sale doesn't happen. The plan includes job cuts, potential streaming partnerships, cost reductions, and divesting noncore assets. The company is also exploring strategic initiatives to lower debt and improve its credit rating. Paramount has agreed to merger terms with Skydance Media and private equity firms, pending approval from controlling shareholder Shari Redstone. The company is also considering partnerships with other streamers and licensing content.
Sentiment: NEUTRAL
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Keywords: george cheeks, paramount global, chris mccarthy, breaking news: business, entertainment, business, brian robbins, media, business news,
Source: https://www.cnbc.com/2024/06/04/paramount-annual-meeting-job-cuts-streaming-jv.html