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Paramount’s Theatrical Business “Incredibly Valuable” To ViacomCBS CEO Bob Bakish, But “Windows Will Probably Shorten”

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Dade Hayes Finance EditorAdding to comments from media executives in recent days about the state of theatrical movie releases, ViacomCBS CEO Bob Bakish defended Paramount Pictures but said windows will “probably shorten.”Paramount “is an incredible asset for ViacomCBS,” Bakish told Wall Street analysts during the company’s second-quarter earnings call Thursday. “It has a powerful collection of IP, which we continue to develop for film, TV and streaming purposes.” Its library is also crucial to the company’s licensing strategy, he noted.Movie theater closures during spring and summer limited Paramount to just $3 million in revenue for the quarter, an amount the company called “immaterial” in the earnings release.

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