Is Pluto TV for Sale? It Could Be Challenging for Paramount
Is Pluto TV for sale?
The current leaders of Paramount Global reaffirmed their plan to sell assets as recently as this month’s second quarter earnings call. But the presumptive new owner of the company — Skydance Media — may have something else in mind.
Paramount’s Office of the CEO —who are in charge, for now — has made clear that assets with ties to the declining linear TV ecosystem would be put on the chopping block as the company looks to reduce $14.6 billion in long-term debt and boost its flagging stock price.
“The set of assets that make up Paramount Global today were built up through the rise of linear,” Chris McCarthy, one of the company’s three co-CEOs, said on Aug. 8. “And while we have strong brands and businesses, we must reshape our portfolio to best compete in the future. The assets under consideration are undeniably strong with exciting futures...
The current leaders of Paramount Global reaffirmed their plan to sell assets as recently as this month’s second quarter earnings call. But the presumptive new owner of the company — Skydance Media — may have something else in mind.
Paramount’s Office of the CEO —who are in charge, for now — has made clear that assets with ties to the declining linear TV ecosystem would be put on the chopping block as the company looks to reduce $14.6 billion in long-term debt and boost its flagging stock price.
“The set of assets that make up Paramount Global today were built up through the rise of linear,” Chris McCarthy, one of the company’s three co-CEOs, said on Aug. 8. “And while we have strong brands and businesses, we must reshape our portfolio to best compete in the future. The assets under consideration are undeniably strong with exciting futures...
- 8/28/2024
- by Lucas Manfredi
- The Wrap
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