Paramount’s robust earnings came as it increased its bid to acquire Warner Bros. Discovery (WBD) to a new $31-a-share
David Ellison’s Paramount Skydance Corp. exceeded Wall Street’s fourth-quarter expectations, reporting $8.15 billion in revenue and an adjusted operating income of $612 million.
While the company’s film and streaming divisions remain unprofitable, its traditional TV business, which includes CBS, MTV, and Comedy Central, posted earnings of over $1 billion.
Despite a slight revenue miss in streaming, the Paramount+ subscriber base grew to 78.9 million.
Paramount’s robust earnings came as it increased its bid to acquire Warner Bros. Discovery (WBD) to a new $31-a-share. The move has allowed it to extend the buying talks.
Bloomberg notes that WBD’s small yet profitable TV division, consisting of CNN, TNT, and more, would benefit Paramount. However, any finalized deal will face intense regulatory scrutiny.