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Paramount Global, Swinging to Q1 Profit, Maintains Skydance Deal Will Close by June
Paramount Global swung to a profit in the first quarter and said it believed its deal to be acquired by Skydance Media would close by the end of June
Paramount Global, under scrutiny as it works to complete a deal that will have it acquired by Skydance Media, said it swung to a profit in its fiscal first quarter, boosted by revenue increases from its film and streaming businesses. The company’s largest operation, its TV networks, grappled with downturns in ad sales tied to comparisons with the year-earlier quarter, when a Super Bowl broadcast generated outsize revenue. In a statement, Paramount executives cited CBS and Paramount+ programs as a critical factor in the quarterly results, and noted that “Paramount+ saw continued improvement in subscribers, user watch time and churn and remains on track to reach domestic profitability for 2025.”
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