Paramount recasts segment reporting post-Skydance merger, reports $412M Q4 earnings

Filed May 13, 2026 · Period ending May 13, 2026 · ~1 min read

Key Changes

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  Skydance merger closed Aug 7, 2025 creates accounting break: pre-merger results use old segments (Filmed Entertainment, Direct-to-Consumer, TV Media), post-merger uses new three-segment structure (Studios, Direct-to-Consumer, TV Media), making year-over-year comparisons impossible.

  Item 8.01 — Other Events verify on EDGAR →
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  Q4 2025 (post-merger period Aug 7–Dec 31): $12.3B revenue, $1.0B operating income, $412M net earnings from continuing operations, but $35M net loss to parent after $447M noncontrolling interest charge.

  Exhibit 99.1 verify on EDGAR →
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  Off-balance-sheet programming commitments total $36.1B as of Dec 31, 2025: $32.0B for sports rights, $4.1B for TV/film production and talent contracts—significant future cash obligations not reflected on balance sheet.

  Exhibit 99.1 verify on EDGAR →