Cynthia Littleton Business Editor Charter Communications is about to play a guest-star role in the corporate drama surrounding Paramount Global.
As if Shari Redstone’s media empire wasn’t under enough pressure, Paramount Global now is in the final few weeks of its most recent carriage agreement with Charter, the nation’s second largest cable operator behind Comcast.
The two companies are in renewal discussions, the outcome of which will have significant influence on Paramount’s ability to deliver the free cash flow that media investors are expecting from the company that has lately posted big losses on streaming operations.
The company warned investors in February that it expects to take a nearly $1 billion write-down in its Q1 earnings report to adjust for the diminished value of programming on its books as well as $200 million in restructuring costs.
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