Get the latest gossip
Paramount Still Sees Skydance Deal Closing First Half Despite Noise; Streaming & Sports Buoy Q1
Paramount Global said it expects the Skydance merger to close in the first half despite noise as it reported solid quarterly earnings buoyed by streaming, sports ads.
Until then, Paramount continues to operate in the normal course of business,” the company said in its first-quarter earnings release with solid numbers topping Wall Street forecasts on most metrics. Paramount has, in fact, been anticipating a first half close since the multi-part transaction was announced last summer — before President Donald Trump sued CBS and 60 Minutes, and before the FCC under chair Brendan Carr began reviewing a complaint against the network and newsmagazine by a right-wing group. Super Bowl comps colored advertising at linear and streaming but sports ads, driven football and March Madness had a strong first quarter at Par, as they did at Disney yesterday and Warner Bros.
Or read this on Deadline