Paramount Global is raising $1 billion in fresh cash through a bond sale expected to close March 29. It said it intends to use proceeds from the offering for general corporate purposes — whic…
for the direct-to-consumer business. Big media companies across the board now are pouring money in content to feed their streamers.
Paramount has also been selling off assets to raise cash, divesting CBS Studio Center, Black Rock and CNET. It inked a deal to sell the publisher Simon & Schuster to Bertelsmann’s Penguin Random House last year but theParamount said the 6.375% fixed-to-fixed rate junior subordinated debentures are due 2062.Must Read Stories
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