00:00 It's Benzinga and here's what's on the block.
00:02 Paramount leadership outlined plans at its annual shareholder meeting if a potential
00:06 sale of the company does not occur. The office of the CEO, comprised of three executives,
00:12 proposed $500 million in cost cuts, divesting non-core assets, and lowering debt.
00:17 Paramount has agreed to terms for a merger with Skydance Media and investment firms,
00:22 pending approval from controlling shareholder Sherry Redstone. The presented plan focuses on
00:27 growing content and franchises while cutting spending and lowering Paramount's junk credit
00:31 rating debt level. For all things money, visit Benzinga.com.
00:34 Good job.
