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Paramount credit downgraded to 'junk' status over debt worries (www.latimes.com)

submitted 1 week ago by StillPaisleyCat@startrek.website to c/quarks@startrek.website

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For those of us wondering how fragile the Skydance-Paramount + WBDiscovery financial construct actually is, it seems that the markets are posing similar questions.

TLDR: despite Ellison senior’s guaranteeing the additional billions in debt, the ratings firms are reclassifying Paramount downwards into a junk bond category.

From the article:

Fitch Ratings said Monday that it placed Paramount on its “negative” ratings watch, and downgraded its credit to BB+ from BBB-, which puts the company’s credit into “junk” territory. Fitch said it took action due to “uncertainty” surrounding Paramount’s $110-billion deal for Warner Bros. Discovery, which the boards of both companies approved on Friday.

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[–] scrubbles@poptalk.scrubbles.tech 3 points 1 week ago (1 children)

continuing, you agree to our Terms of Service, which include arbitration and a class action waiver, and our Privacy Policy

Wow to even READ an article on LA times I give up my rights. Fuck off LA times and your shit-ass lawyers.

[–] SanctimoniousApe@lemmings.world 3 points 1 week ago

I use a Firefox variant and various extensions like Bypass Paywalls Clean (which is NOT available on Mozilla's repository), and never see that crap. I don't care what the extensions are doing behind the scenes to get rid of the crap because the law is a joke anymore (as proven by the current White House occupant) - if they want to go after you, then they're gonna find a way to get you no matter what. They want lawlessness for themselves? Then I'm gonna play their game, too.

[–] SanctimoniousApe@lemmings.world 3 points 1 week ago

So, Netflix may still win in the end by getting them all in a fire sale! Yay, ~~capitalism~~ consolidation!