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Paramount Global Braces For New Round Of Layoffs
EXCLUSIVE: Amid speculation about its future, Paramount Global is proceeding with a new wave of staff reductions in February, sources tell Deadline. I hear the cuts will impact hundreds of employee…
While the cuts are being contemplated, National Amusements, Inc., the Shari Redstone-led company that owns the majority of voting shares in Paramount Global, has reportedly been fielding acquisition offers. Apollo Global Management is among the companies that have reportedly contacted the investment bank advising NAI, BDT & MSD Partners; there also have been rumored overtures from Skydance Media and RedBird Capital. Paramount, which was formed when Viacom and CBS reunited in 2019, has faced challenges related to pay-TV cord-cutting, a soft ad market, a loss-producing streaming operation and volatility in the movie business where it just scored a hit with Mean Girls.
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