Paramount Will Be “Diligent” Exploring Alternatives, CFO Promises, As Management Focused On Turnaround
deadline.comParamount Global chief financial officer Naveen Chopra said management is chipping away at debt, cutting costs, heading towards streaming profitability and otherwise “focused on execution” but won’t ignore other opportunities to create value for shareholders. “We believe that continued execution of our plan will unlock value.
We are very conscious of the fact that our job as management is to create value for all our shareholders. There are multiple ways to potentially accomplish that.
But to the extent that there are other alternatives, we will be diligent about exploring them,” he told investors at a Morgan Stanley media conference when asked about M&A speculation swirling around the Bob Bakish-led, Shari Redstone-owned company for months, with no deal announced.
He declined to comment on the M&A chatter, which has zeroed in on David Ellison’s Skydance Media, Bryon Allen and, earlier, Warner Bros.
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