Paramount Executives Outline $500M Cost-Cutting Plan Amid Uncertain Merger Prospects

Leadership emphasizes strategic partnerships, asset sales, and job cuts to strengthen financial position as Skydance merger remains undecided.

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.