Paramount Global (PARA) reported its first profit in its streaming division on Thursday, while its linear TV division reported a bigger-than-expected slowdown as the company took a nearly $6 billion writedown on its cable division. During a conference call, the company also announced plans to lay off 15% of its U.S. workforce. The layoffs will … Read more
Paramount Global (PARA) reported its first profit in its streaming division on Thursday, while its linear TV division reported a bigger-than-expected slowdown as the company took a nearly $6 billion writedown on its cable division. During a conference call, the company also announced plans to lay off 15% of its U.S. workforce. The layoffs will … Read more
Paramount Global said Thursday it has taken a $6 billion writedown of its cable television network division, in another sign that Hollywood is reckoning with the traditional television industry’s continued decline. Executives also announced a new round of layoffs to reduce Paramount’s workforce by 15%. The revelations, part of Paramount’s second-quarter earnings report, come as … Read more
Paramount Global said Thursday it has taken a $6 billion writedown of its cable television network division, in another sign that Hollywood is reckoning with the traditional television industry’s continued decline. Executives also announced a new round of layoffs to reduce Paramount’s workforce by 15%. The revelations, part of Paramount’s second-quarter earnings report, come as … Read more
(Reuters) – A U.S. court has ordered bankrupt crypto exchange FTX to pay $12.7 billion in damages to its customers, the Commodity Futures Trading Commission said on Thursday. FTX lured customers with “the illusion that it was a safe and secure place to access crypto markets,” and then misused its customers’ funds to make risky … Read more