Paramount Skydance issues weak forecast as it battles Netflix to acquire Warner Bros.
NY Post
Paramount Skydance forecast first-quarter revenue below Wall Street estimates on Wednesday, citing an ongoing decline in legacy TV, but predicted strong growth in its streaming unit this year on additional subscribers and price increases.
The David Ellison‑led company called its bid for Warner Bros Discovery an “accelerant” to its goals, but would not comment further on the deal talks.
Warner Bros.’ board is evaluating whether Paramount’s revised $31-per-share bid for the entire company constitutes a superior offer to Netflix’s $27.75 a share proposal for its streaming and studio assets.
“Paramount Skydance’s quarter isn’t really about the headline numbers – it’s about whether streaming momentum can outrun the structural unwind in linear,” PP Foresight analyst Paolo Pescatore said.
During the fourth quarter, revenue at Paramount’s TV Media unit declined 5% to $4.71 billion, hurt by softer advertising demand and a decline in affiliate revenue.
Legacy media companies face declining ratings and revenue across their cable portfolios, with cord-cutting accelerating the shift toward streaming.
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