Paramount Global Prepares for Major Layoffs Amid Acquisition Rumors

The media giant, facing challenges such as cord-cutting and a weak advertising market, is reportedly considering acquisition offers as its stock value plummets.

• Paramount Global is reportedly preparing for a significant wave of layoffs that could affect as many as 800 jobs across all divisions, starting in February.
• The company, which includes CBS, Paramount, Showtime, and MTV, has been grappling with challenges such as cord-cutting, a weak advertising market, and a loss-producing streaming service.
• National Amusements, which holds the majority of voting shares in Paramount Global, is considering acquisition offers from companies including Apollo Global Management, Skydance Media, and RedBird Capital.
• Paramount's stock value has significantly decreased to less than half its post-merger value.
• The layoffs follow a trend in the media industry, with companies like NBCUniversal and Disney also recently announcing job cuts.

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