The new management team of Paramount officially took control of the company on Thursday and, while they assess the entire portfolio, a particular area should face a meticulous examination is the real estate assets of the media giant.
The president of the company Jeff Shell declared Thursday at a press conference that the primordial lot of Los Angeles was one of the properties which will probably be sheltered from any potential sale – a reversal after the batch sales rumors made surface last year – just like the CBS broadcasting center on the 57th street in New York because of its infrastructures. However, many other assets are “on the table” for examination, such as the national portfolio of cinema theaters and the headquarters of Paramount in New York.
The fate of the Ed Sullivan theater also remains an open question because the president of New Paramount television / media, George Cheeks, said that discussions to journalists remain in progress on a programming replacement for “The Late Show” when Stephen Colbert’s show ends in 2026.
Asked about a spin-off of the cable networks of Paramount, Shell said: “I don’t think this is really logical for us.” The new manager of the paramount exploitation and strategy, Andy Gordon, told journalists that there was “probably a place” for brands like MTV and Comedy Central to exist outside the linear world where they can be “invested and flourish”.
While recognizing that the wired activity “clearly goes through the secular decline”, Gordon said that the team would be “very careful” on how to manage assets as effectively as possible to maximize cash flows. Paramount recently launched an examination of its international wage television strategy, which, according to Shell, could lead to a reduction in its cable footprint in international markets like Australia.
New Paramount Leadership previously set a goal of at least $ 2 billion in cost savings. In addition to real estate, the new CEO of Paramount, David Ellison, said Thursday in an open letter that they would seek to stimulate efficiency in fields such as technology, work, supply and workflow.
