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Paramount Co-CEOs Postpone All-Hands Meeting Because of ‘Speculation Regarding Potential M&A’
Paramount's co-CEOs postponed an employee town hall scheduled for Wednesday, June 5, citing "ongoing speculation regarding potential M&A."
The three execs who lead Paramount Global ‘s “Office of the CEO” have called off their planned town hall meeting with employees that had been scheduled for Wednesday, June 5, citing “ongoing speculation regarding potential M&A.” At the June 4 meeting, they spoke at a high level about how they plan to cut upwards of half a billion in costs annually, pursue a joint venture to gain streaming scale and potentially sell some assets to shore up the balance sheet. Prior to the meeting’s Q&A portion, McCarthy briefly alluded to the Skydance offer without mentioning it by name but said “we cannot comment” on “speculation” about a potential M&A event.
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