Paramount Global at Gabelli Media & Entertainment Symposium Transcript
So next up, we have Paramount Global. Many of you are, I'm sure, familiar, Paramount Global produces and distributes content across a range of channels, including theatrical broadcast networks, cable channels, and streaming services. The company's flagship streaming service, Paramount Plus, has about 60 million subscribers. The company recently announced that it would be combining Paramount Plus with its Showtime streaming service and premium cable channel.
The company has two share classes, 41 million Class A shares trading under ticker PARAA, trading around $19; 611 million Class B nonvoting shares, trading under the ticker PARA, trading around $16 for about $11 billion market cap, $250 million in preferreds at market and about $13.7 billion in net debt.
Today, we are pleased to have Naveen Chopra with us, CFO, Paramount. Naveen joined the company in 2020 and previously served the management roles at Amazon, Pandora, and TiVo. So thanks for being with us being here with us, Naveen.
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