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Company behind Paramount Pictures, Nickelodeon and CBS writes down value of its cable networks by nearly $6bn
The entertainment conglomerate behind Paramount Pictures is to cut about 2,000 jobs in a bid to reduce costs ahead of a merger with the independent film studio Skydance.
Paramount Global, which also owns CBS, Nickelodeon and the UK’s Channel 5, announced plans to cut about 15% of its US workforce alongside its latest earnings on Thursday.
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