Paramount Sees Q4 Profit Loss Widen Amid New Effort to Acquire Warner
Variety • • business
Key Points:
- Paramount Skydance reported a widened fourth-quarter loss of $573 million, up from $224 million the previous year, despite a 2% increase in overall revenue driven by growth in streaming and film operations.
- Streaming revenue rose 10% to $2.21 billion, and filmed entertainment revenue increased 16% to nearly $1.26 billion, while TV networks revenue declined 5% to $4.7 billion due to a 10% drop in TV advertising and a 7% fall in distribution revenue.
- The company is actively pursuing an acquisition of Warner Bros. Discovery, viewing it as a strategic move to accelerate growth and improve shareholder value, even as Warner is considering a sale of HBO Max and Warner studios
