Paramount Takes $5.98B Write-Down At Cable Networks Ahead Of Skydance Deal In Latest Big Media Damage From Linear TV

Paramount Global has taken massive hit to earnings, booking a nearly $6 billion write-down as part of its second-quarter earnings, a day after Warner Bros. Discovery reported an even bigger charge. Both impairment charges to bring each to bring their carrying value for linear television assets into line with what they're likely worth now – much less given years of declines and an uncertain future.WBD's, of$9.12 billion, was trigged by the recent loss of NBA games. The timing for Paramount is related to get ...