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Paramount Global Takes $1.3 Billion Charge in Q1 for Content Write-Offs, Layoffs

As Paramount Global navigates the departure of CEO Bob Bakish and speculations of a potential sale, the company maintains normal operations during a turbulent first quarter. This period saw Paramount taking a $1.3 billion charge for content write-offs and executing layoffs, alongside the announcement of their Q1 2024 earnings.