Paramount Sees Skydance Merger Closing In First Half As Streaming & ‘Sonic’ Bright Spots In Mixed Q4
deadline.comParamount Global confirmed today, that despite all the noise, it still expects the merger with Skydance to close in the first half of the year as the company reported mixed quarterly numbers with misses on the top and bottom lines.
Stock-based and other executive compensation was a one-time hit on earnings, Deadline hears. And revenue was softer than Wall Street forecasts.
Numbers beat on key cash flow and other metrics. Par swung to a net loss of $224 million for the fourth quarter – from a $514 million profit the year before — on revenue up 5% to $7.98 billion for the quarter.
DTC was strong as Paramount+ added 5.6 million new subscribers — its best quarter of subscriber growth in two years — and 10 million for the full year to end at 77.5 million.
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