Paramount Takes $5.98 Billion Write-Down on Cable Networks in Q2 Tied to Skydance Deal While Streaming Turns First Profit

Paramount Global said its looming merger with Skydance Media spurred a goodwill impairment charge of $ 5.98 billion in its second quarter, the latest warning sign for a media industry that is seeing audiences abandon cable in favor of streaming video in a manner that is upending the economics of the sector. The company, which owns […]
Variety