Paramount Global Reports $5.4 Billion Loss Amid Major Impairment Charges
The media giant faces strategic shifts, layoffs, and an $8 billion merger with Skydance Media.
- Paramount Global recorded a $5.98 billion goodwill impairment charge for its cable networks.
- Direct-to-consumer division turned a profit of $26 million, boosting after-hours trading by 5%.
- Company plans to cut 15% of its workforce as part of a $500 million cost-saving initiative.
- Skydance Media merger valued at $8 billion, expected to close in Q3 2025 pending approvals.
- Warner Bros. Discovery also reported significant impairment charges, reflecting industry challenges.
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