Overview

• Paramount Global's shares fell over 3% following the announcement of the cost-cutting plan.
• The company aims to reduce $500 million in annual expenses, focusing on non-content costs like real estate and marketing.
• Executives are exploring joint ventures for Paramount+ to accelerate its profitability.
• Shari Redstone, Paramount's controlling shareholder, has not yet decided on the merger offer from Skydance Media.
• Potential asset sales are being considered to bolster the company's balance sheet and reduce debt.