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Ratings Agencies Call Skydance, Paramount Merger Positive But See Risks In Long Lead Time, Linear TV Declines
S&P Global Ratings today called the planned Skydance-Paramount merger positive but wants more details on strategy, plans and financing.
S&P Global Ratings, the first to wave a red flag about Paramount ’s finances last fall, today called the planned merger with Skydance “positive” but said it will continue to monitor the transaction, citing concern over the long lead time amid the ongoing decline of linear television. In a public call with investors yesterday, the Skydance team led by David Ellison unveiled plans to strengthen Paramount’s business by spending on content, managing linear TV, and improving its streaming metrics, in part through tech investments and partnerships. “Our historical concerns for Paramount, which led to our previous ratings actions, were driven by the company’s operating struggles, which ultimately translated to weaker-than-expected credit metrics.
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