Latest news of chris-mccarthy

Direct-to-consumer revenue rose 9% to $2.04 billion, while total company revenue reached $7.19 billion, beating forecasts despite a year-over-year decline. The TV Media segment fell 13% as ad revenue dropped 21%, underscoring pressure on traditional channels.

The company presented its Q3 2024 financial results, with significant growth on the DTC segment, while TV Media and Filmed Entertainment experienced revenue decreases.

The cuts, which add to the round of layoffs the company implemented in February of this year and that reduced its employee base by 3%, are part of a corporate effort to generate annual run-rate cost savings of $500 million.

The previously announced spinoff will be the next installment in the "Yellowstone" verse from creator Taylor Sheridan. It is produced by MTV Entertainment Studios, 101 Studios and Bosque Ranch Productions.

To lead and oversee the company moving forward, Paramount Global has established an Office of the CEO, consisting of three senior company executives: George Cheeks, Chris McCarthy, and Brian Robbins.