Paramount Global, the owner of Network 10, is set to cut 800 jobs, including Australian staff, as part of cost-cutting measures. The move comes as the media giant aims to save cash amid takeover talks and struggles to adapt to the challenges of achieving profitability in the streaming era. Potential bidders are concerned about Paramount's massive debt load and the impact of cord cutting on its shows.
Scoop: @paramountco bidding “war” is largely stuck between Byron Allen for everything and @Skydance for Redstone’s stake, sources tell @FoxBusiness. Lots of sniffing around but impediments are everywhere. @wbd, for instance, will have a difficult time getting through @FCC,…
Breaking: One issue that is worrying potential bidders of @paramountco is its massive debt load — more that 150 per of its market cap. Combine that with shows suffering rapidly from cord cutting and it’s difficult to make the numbers work buying the whole thing, sources say. Left…
Paramount slashes staff, jobs to go at Ten, @australian https://t.co/pj77YcVXE4
Network 10 owner Paramount says Australian workers will be among the 800 jobs to be cut as the US entertainment giant looks to save cash amid takeover talks. https://t.co/3PrHlxTRSG
#Paramount's #layoffs reveal the struggle to adapt to the streaming era and the challenges of achieving profitability. https://t.co/Z3dgGYndF2
Media Giant Paramount Global, Which Owns CBS News, To Cut 800 Jobs https://t.co/6n4NGTknAG https://t.co/ozOjHTttqc
Today, of all days, in the shadow of the Wilkinson saga, Network Ten announces it will cut Australian jobs https://t.co/bT7bytleHG via @sophieelsworth
Paramount Global — the owner of Network 10 — has announced that it will be axing Australian staff in a bid to cut costs, @australian. https://t.co/GPg1e0BUWb