Paramount’s Best Hope of Survival Is Skydance: Paul Hardart

Unfortunately for Paramount Global, it’s the star of its own Hollywood drama.

A big name and legacy haven’t been enough to save it from the consequences of a global pandemic, a drop in advertisers and a shift in people’s viewing habits. It’s now awash in $16 billion of debt, and its future is uncertain.

What it has going for it is that it still has sought-after assets (even though they’re losing value). That’s why the more than century-old studio has been linked to one suitor after another: Warner Bros Discovery Inc., Skydance Media LLC, Comcast Corp., Apollo Global Management Inc. and, as of ...