Today, Explained
Paramount’s looking for a deal they can’t refuse
May 2, 2024
Joining the discussion is Matthew Belloni, founding partner at Puck and host of The Town podcast. He delves into the turmoil at Paramount Global, including the ousting of the CEO and the company's declining stock prices. Belloni explores the struggles Paramount faces in the streaming landscape and the potential for a sale, pointing to past interest from major players like Netflix. He also reflects on the legacy of Sumner Redstone and the internal power struggles that continue to shape Paramount's uncertain future.
25:37
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Quick takeaways
- Paramount Global faces challenges adapting to streaming market, impacting financial performance.
- Potential sale of Paramount signifies shift towards streaming services and uncertain future under new ownership.
Deep dives
Paramount's Decline and Shifting Media Landscape
Paramount, a media giant, faces disarray as its CEO is ousted amid struggles in the streaming market. The company's failure to adapt to changing viewer habits, shifting away from traditional cable channels like MTV and Nickelodeon, led to financial setbacks. The clash between old media and emerging streaming services like Netflix highlights Paramount's fight for survival.
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