Shari Redstone, the president of National Amusements, recently spoke at the WSJ Tech Live conference in Laguna Beach, California. She has been in discussions with potential buyers interested in acquiring her media company, Paramount Global, or parts of it for several years. However, the seriousness of these discussions has intensified in recent months.
There are compelling reasons for the urgency of a deal. The media landscape is evolving rapidly, and legacy media companies saw an opportunity for growth by launching their own streaming services during the Covid-19 pandemic. However, after Netflix’s growth stalled in 2022, Wall Street’s sentiment shifted, leaving companies like Paramount Global in a precarious position.
Paramount Global’s streaming service, Paramount+, has amassed 63 million subscribers and continues to grow. Despite this, it is still operating at a loss.
2024-02-03 08:36:16
Source from www.cnbc.com