Paramount Skydance Sees Q3 Loss on Revenue Shortfalls in TV Advertising, Distribution

New managers. Same old problems.

Paramount Skydance said it posted a loss in the third quarter crimped by dynamics that have plagued the company that controls CBS, Paramount+ and Comedy Central for the last few years. Two of its biggest sources of revenue — TV ad sales and TV distribution fees — continued to erode. Overall pro forma revenue during the period fell 3%, to about $6.1 billion, while TV advertising fell 12% and fees from TV distribution dipped 7%

Paramount issued commentary Monday on its third fiscal quarter, but this is the first financial period under the management of new owners, the Ellison family and their hand-picked team.