Challenges in the Cable TV Industry

SOURCE www.axios.com
Paramount Global and Warner Bros. Discovery took significant write-downs on their cable TV businesses, highlighting the struggle to compete with Big Tech in the streaming space. Paramount is seeking a streaming partner to scale its Paramount+ service.

Key Points

  • $6 billion write-down for Paramount Global's cable TV business
  • $9 billion write-down for Warner Bros. Discovery
  • Both companies seeking to boost streaming services to offset losses
  • Paramount looking for a streaming partner to scale Paramount+