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Paramount Global Q4 Earnings Nip Wall Street Forecasts But Ad Decline Hits Revenue; Company Projects Domestic Streaming Profit By 2025
Paramount Global's earnings in the fourth quarter edged Wall Street forecasts, but a double-digit slide in advertising dragged down total revenue by 6%.
Paramount Global ‘s earnings in the fourth quarter edged Wall Street forecasts, but a double-digit slide in advertising dragged down total revenue by 6%. Formed from the 2019 merger of CBS and Viacom, the company has held talks recently with a number of entities interested in acquiring some or all of its assets. None of the discussions have progressed to an advanced stage, but investors have raised questions about the company’s vulnerability to declines in linear TV viewing and advertising, as well as its ability to compete in the cash-intensive streaming derby.
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