Todd Spangler NY Digital EditorViacomCBS is readying itself to write some bigger checks for content flowing to Paramount Plus and its other streaming properties.The company, which bowed the Paramount Plus streaming service earlier this month in an expanded foray onto the streaming battlefield, announced Monday that it plans to sell $3 billion worth of stock.
ViacomCBS said it plans to use the funds from the stock sales for “investments in streaming,” among other general corporate purposes.Following the announcement, shares of ViacomCBS were down about 4% in after-hours trading, after closing regular trading up 3% for the day.
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