Paramount’s Co-CEOs Address Company Strategy and Challenges in Town Hall Meeting

Paramount Global’s co-CEOs, Brian Robbins, Chris McCarthy, and George Cheeks, addressed the company’s recent M&A speculation and profit declines in a town hall meeting with employees. The executives outlined a plan to focus on transforming Paramount’s streaming strategy, optimizing the company’s asset mix, and modernizing the organization to drive success. Bankers have been hired to sell off unspecified assets to help pay down debt. Despite the end of sales talks with Skydance Media, potential deals with Apollo and Sony are still on the table. Additionally, multiple bidders have emerged for Redstone’s National Amusements, which owns controlling shares in Paramount. Year to date, Paramount Global stock is trading down 29 percent. The company is taking steps to address challenges and position itself for future growth.