Change in Leadership at Paramount Amid Merger and Financial Challenges

Bob Bakish steps down as CEO of Paramount amid merger with Skydance and struggling streaming platform. He will be replaced by an office of the CEO headed by three executives. Shareholders oppose merger with Skydance. Skydance sweetens proposal to acquire Paramount. Paramount faces financial challenges with debt rating downgrade to 'junk' and losses in streaming.

Paramount Global Downgraded to Junk Status by S&P

Paramount Global has been downgraded to junk status by S&P due to the ongoing plunge in cable TV subscriptions. The studio is facing economic challenges as American households continue to cut cords, impacting advertising revenue and streaming profitability.