writedown

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