Paramount’s TV media segment declined 9% year over year to $3.1 billion, while direct-to-consumer revenue rose 9% to $2.5 billion and studio revenue increased 16% to $1.3 billion, driven by licensing deals, TV production, and notable hits like Scary Movie.

Studio revenue, at $1.3 billion, benefited from third-party sales to Netflix and Amazon Prime Video and stronger content licensing, even as the summer theatrical slate softened, highlighted by Jackass: Best and Last versus last year’s Mission: Impossible — The Final Reckoning.

Television unit sales slipped 9% to $3.1 billion, reflecting softer performance at CBS and cable networks such as Comedy Central.

CEO David Ellison reiterated confidence in closing the Warner Bros. Discovery deal and emphasized CNN’s independence within the merged structure, while signaling readiness to pursue an out-of-court settlement if needed.

Ellison stressed that Paramount remains committed to the standalone strategy and believes the merger will close, noting that the company could seek an out-of-court settlement but expects a favorable outcome at trial.

Paramount and Ellison defended the merger, asserting the transaction should close and pledging CNN’s independence within the new entity.

Paramount reaffirmed its plan to complete the Warner Bros. acquisition, noting a pause until at least mid-2027 pending antitrust rulings and potential ticking fees of up to $1.7 billion to Warner Bros. shareholders if closing is delayed.

A lawsuit filed by California and more than a dozen other states to block the Paramount-Warner Bros. Discovery deal is moving toward a March 2027 trial, delaying the merger.

Paramount won the bid to acquire Warner Bros. Discovery for roughly $111 billion, but the deal is paused amid antitrust litigation, with the timeline extended to June 1, 2027 or until lawsuits are resolved.

The article notes ongoing legal and strategic developments with promises of more details to come.

Paramount consolidated its streaming platforms onto a single technology framework to improve content promotion, as stated by Chief Operating Officer Andy Gordon.

The company merged its streaming services onto a single tech platform to better promote content, per COO Andy Gordon.