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Paramount Global Town Hall Delayed After Skydance Offer, Co-CEOs’ Shareholder Presentation
A town hall for Paramount Global employees originally scheduled to take place Wednesday has been delayed until June 25.
The troika outlined a plan to shareholders to cut $500 million in annual overhead and juice streaming revenue through licensing and a potential joint venture or strategic partnership with a media or tech company. Paramount stock slipped 4% Tuesday in the wake of the meeting after having run up on Monday amid talk of Skydance being close to sealing a long-sought merger deal. (That price tag excludes the roughly $3 billion initial step of acquiring Redstone’s National Amusements, which controls 77% of Paramount’s Class A, or voting, stock.)
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