Paramount says Warner Bros. Discovery acquisition remains on track for late Q3 close
Updated
Updated · Hollywood Reporter · May 4
Paramount says Warner Bros. Discovery acquisition remains on track for late Q3 close
11 articles · Updated · Hollywood Reporter · May 4
In first-quarter results, Paramount posted $7.35 billion revenue, up 2%, and adjusted EBITDA of $1.16 billion, up 59%, as CEO David Ellison pursues the deal.
Paramount+ drove growth, with revenue up 17% year on year and 700,000 subscriber additions despite a one million hit from losing a hard bundle.
The company said customary rules limit engagement with Warner Bros. Discovery on future plans before closing, while Paramount continues operating independently during the transition.
With a staggering $79B in debt, can the new Paramount-Warner giant survive its own mega-merger?
Will national security fears over foreign funding derail the largest media merger in a decade?