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The Journal.

Why Buying Paramount Global Won't Be Easy

The Journal.

The Wall Street Journal

News, Daily News, Business News

4.25.8K Ratings

🗓️ 1 February 2024

⏱️ 16 minutes

🧾️ Download transcript

Summary

Paramount Global is a media titan and lately potential buyers have been circling, hoping to get some of its parts. But as WSJ’s Jessica Toonkel explains, there’s a problem. The company’s owner is only interested in selling the whole thing. Further Reading: -Allen Media Group Makes $14.3 Billion Offer for Paramount Global -Skydance Backers Explore All-Cash Deal To Gain Control of Paramount -Warner and Paramount CEOs Discussed Possible Merger of Companies Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Paramount Global is a massive conglomerate. The company owns a famous movie studio that's behind

0:12.4

hits like Mean Girls and the mob classic The Godfather.

0:16.0

I'm going to make them an offer, I can't refuse.

0:18.0

It owns cable networks like B.E.T. M. T. M.V. and Comedy Central, which are known for iconic programming.

0:26.0

And it owns a big broadcast network, CBS, where people tune in to watch football.

0:32.0

CBS Sports welcomes you to the following presentation of the National Football League.

0:39.0

But even with all these big names, as a business, Paramount Global isn't doing well.

0:45.0

I would say that Paramount, like its competitors, is struggling.

0:51.0

So is Paramount Global kind of like a beautiful house that like has a flood in the basement?

0:59.0

Oh, I think that's an excellent analogy.

1:01.0

Yes. There's definitely a few leaks in this house.

1:04.3

That's her colleague Jessica Tunkle and she says that even though the Paramount House

1:09.2

might need some repairs, people have been knocking on the front door, asking if it's for sale.

1:15.0

I would say that there's a flood in the basement, the boiler needs to be replaced,

1:20.0

it's really expensive to replace that boiler.

1:22.0

Like, I could keep going with these that important.

1:25.0

But so why would anybody want it then?

1:28.4

Because if you think you can get it for cheap enough,

1:30.9

then it could be a good deal.

1:41.0

Over the past few months, there have been three different buyers who've seen a good deal in Paramount Global, but each buyer is only interested in some of the company's pieces, like the

1:45.6

movie studio or the CBS network. But the person selling the company doesn't want to break off little

1:52.0

pieces. They want someone to buy the whole

...

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