The future doesn’t look good for Paramount Global — the Hollywood giant that owns CBS, Paramount Pictures, Comedy Central, BET, Pluto TV, and many other media properties.
Paramount Global’s financial outlook took a hit Friday when S&P Global slapped it with a “credit watch negative” rating over concerns about the company’s cash flow. The report blamed “the ongoing deterioration of the linear television ecosystem and the shift toward a lower margin direct-to-consumer (DTC) streaming model.”
Like other legacy Hollywood studios, Paramount is feeling the pain from tens of millions of Americans canceling their cable TV subscriptions. At the same time, the studio’s streaming services — including Paramount+ and Pluto TV — continue to lose money at an alarming rate.
The bad news comes amid ongoing acquisition rumors that have swirled around Paramount for many…
