Paramount Global's Debt Downgraded to Junk Status by S&P

The downgrade reflects challenges in the shift to streaming and financial austerity measures amid speculation about the company's future.

S&P Global downgrades Paramount Global's debt to junk status, citing weak credit metrics and the shift toward streaming.
Paramount faces challenges in replacing lost linear TV revenues with digital and streaming revenues, amid fast-changing consumer habits.
The downgrade follows a month after Paramount was put on negative watch due to concerns over weaker cash flow.
Paramount Global aims to improve streaming losses and leverage over the next two years to avoid further downgrades.
Speculation continues about the future of Paramount, including potential acquisitions or mergers, as it navigates financial austerity and seeks to boost its streaming service, Paramount+.