Paramount’s Channel 5 Increases Operating Profit In 2023 But Takes Hit On Huge $200M Payment To Viacom Interactive Subsidiary
DeadlineStory by Max Goldbart
scrn logline
Paramount's Channel 5 posts profit gains, but a massive $200M payment to Viacom subsidiary drags down the bottom line in 2023.
beat sheet
- Channel 5's turnover and operating profit both increased in 2023, signaling a strong year for the network despite industry headwinds.
- The £159.5M ($200M) one-time payment to a Paramount Global subsidiary was the culprit behind Channel 5's overall loss, a surprising financial hit for the typically profitable network.
call sheet
Paramount, Paramount Global, Channel 5