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Paramount Global tells employees it will focus on strategic plan

By Thomson Reuters Jun 12, 2024 | 1:36 PM

(Reuters) -Paramount Global’s leadership team told employees Wednesday the company will focus on its new plan to transform its streaming business, reduce costs and divest some assets to help pay down debt, according to an email seen by Reuters.

The message comes a day after Paramount’s controlling shareholder, Shari Redstone, opted to end deal talks with Skydance Media.

(Reporting by Dawn Chmielewski in Los Angeles and Zaheer Kachwala in Bengaluru; Editing by Shounak Dasgupta and Nick Zieminski)