Paramount Skydance Corp. on Wednesday reported its fourth quarter earnings, as it finds itself in the middle of a renewed push to pry Warner Bros. Discovery away from the streaming giant Netflix.
And with investor interest in the deal sure to be high, the company explained in a letter from CEO David Ellison that it views the megadeal as a key strategic effort: “While we are confident in our standalone strategy and growth trajectory for Paramount, we view WBD as an accelerant to achieving these goals more quickly.”
PSJY reported revenues of $8.14 billion in Q4, up 2 percent from the predecessor company a year earlier, with operating loss of $339 million and adjusted OIBDA of $612 million.
More to come.
