Paramount’s shares fall 30%. Will it break?

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“[Paramount] just have these linear television networks that are being really pummeled by this ad recession, and they don't have enough profitability on the streaming side because the cost of doing all these shows is so high. So they're on a double weighted seesaw, and it's going to break in the middle, probably,” says Matt Belloni of Puck News.

“[Paramount] just have these linear television networks that are being really pummeled by this ad recession, and they don't have enough profitability on the streaming side because the cost of doing all these shows is so high. So they're on a double weighted seesaw, and it's going to break in the middle, probably,” says Matt Belloni of Puck News. Photo by Rafapress/Shutterstock

Paramount Global had a disappointing week. After a dismal first-quarter earnings report, its shares fell almost 30%. Looking to cut costs, it shuttered MTV News, cut 25% of TV network’s staff, is trying to sell BET, and its hit streaming show “Yellowstone” is ending. 

With the ad recession, the company’s linear television model has pummeled, and it can’t seem to be profitable on the streaming side. Will Paramount break? Plus, the writer’s strike continues as the Director’s Guild begins negotiations. 

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