NEW
YORK, Dec. 17, 2024 /PRNewswire/ -- Paramount
Global (the "Company") (NASDAQ: PARA, PARAA) today announced that
it would redeem all of its remaining outstanding 4.750% senior
notes due May 15, 2025 (the "4.750%
senior notes") on December 27,
2024.
The redemption price for the 4.750% senior notes is equal to the
sum of 100% of the principal amount of the 4.750% senior notes that
remain outstanding, the make-whole amount calculated in accordance
with the terms of the 4.750% senior notes and the related indenture
under which the 4.750% senior notes were issued, and the accrued
and unpaid interest on the remaining 4.750% senior notes up to, but
excluding, the redemption date of December
27, 2024. The aggregate principal amount of the 4.750%
senior notes outstanding and the aggregate principal amount of the
4.750% senior notes to be redeemed is as set forth below:
|
Title of
Security
|
Aggregate Principal
Amount
Outstanding
|
Aggregate
Principal
Amount to be Redeemed
|
|
4.750% senior
notes
|
$125,561,000
|
$125,561,000
|
Holders owning 4.750% senior notes through a broker, bank, or
other nominee should contact that party for information. For more
information, holders of the 4.750% senior notes may call the paying
agent for the redemption of the 4.750% senior notes, Deutsche Bank
Trust Company Americas at (800) 735-7777.
About Paramount
Paramount Global (NASDAQ: PARA, PARAA) is a leading global
media, streaming and entertainment company that creates premium
content and experiences for audiences worldwide. Driven by iconic
consumer brands, its portfolio includes CBS,
Paramount Pictures, Nickelodeon, MTV, Comedy
Central, BET, Paramount+ and Pluto TV. The
Company holds one of the industry's most extensive libraries
of TV and film titles. In addition to offering innovative streaming
services and digital video products, the Company provides powerful
capabilities in production, distribution, and advertising
solutions.
Cautionary Note Concerning Forward-Looking Statements
This communication contains both historical and forward-looking
statements, including statements related to our future results,
performance and achievements. All statements that are not
statements of historical fact are, or may be deemed to be,
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Similarly, statements
that describe our objectives, plans or goals are or may be
forward-looking statements. These forward-looking statements
reflect our current expectations concerning future results and
events; generally can be identified by the use of statements that
include phrases such as "believe," "expect," "anticipate,"
"intend," "plan," "foresee," "likely," "will," "may," "could,"
"estimate" or other similar words or phrases; and involve known and
unknown risks, uncertainties and other factors that are difficult
to predict and which may cause our actual results, performance or
achievements to be different from any future results, performance
or achievements expressed or implied by these statements. These
risks, uncertainties and other factors include, among others: risks
related to our streaming business; the adverse impact on our
advertising revenues as a result of advertising market conditions,
changes in consumer viewership and deficiencies in audience
measurement; risks related to operating in highly competitive and
dynamic industries, including cost increases; the unpredictable
nature of consumer behavior, as well as evolving technologies and
distribution models; risks related to our ongoing changes in
business strategy, including investments in new businesses,
products, services, technologies and other strategic activities;
the potential for loss of carriage or other reduction in or the
impact of negotiations for the distribution of our content; damage
to our reputation or brands; losses due to asset impairment charges
for goodwill, intangible assets, FCC licenses and content;
liabilities related to discontinued operations and former
businesses; risks related to environmental, social and governance
(ESG) matters; evolving business continuity, cybersecurity, privacy
and data protection and similar risks; content infringement;
domestic and global political, economic and regulatory factors
affecting our businesses generally; disruptions to our operations
as a result of labor disputes; the inability to hire or retain key
employees or secure creative talent; volatility in the prices of
the Companyʼs common stock; potential conflicts of interest arising
from our ownership structure with a controlling stockholder;
business uncertainties, including the effect of the Skydance
transactions on the Companyʼs employees, commercial partners,
clients and customers, and contractual restrictions while the
Skydance transactions are pending; prevention, delay or reduction
of the anticipated benefits of the Skydance transactions as a
result of the conditions to closing the Skydance transactions; the
Transaction Agreementʼs limitation on our ability to pursue
alternatives to the Skydance transactions; risks related to a
failure to complete the Skydance transactions, including payment of
a termination fee and negative reactions from the financial markets
and from our employees, commercial partners, clients and customers;
risks related to change in control or other provisions in certain
agreements that may be triggered by the Skydance transactions;
litigation relating to the Skydance transactions potentially
preventing or delaying the closing of the Skydance transactions
and/or resulting in payment of damages; challenges realizing
synergies and other anticipated benefits expected from the Skydance
transactions, including integrating the Companyʼs and Skydanceʼs
businesses successfully; potential unforeseen direct and indirect
costs as a result of the Skydance transactions; any negative
effects of the announcement, pendency or consummation of the
Skydance transactions on the market price of the Companyʼs common
stock and New Paramount Class B Common Stock; and other factors
described in our news releases and filings with the Securities and
Exchange Commission, including but not limited to our most recent
Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K.
There may be additional risks, uncertainties and factors that we do
not currently view as material or that are not necessarily known.
The forward-looking statements included in this communication are
made only as of the date of this communication, and we do not
undertake any obligation to publicly update any forward-looking
statements to reflect subsequent events or circumstances.
PARA-IR
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SOURCE Paramount Global