0000000000-25-001072.txt : 20250314 0000000000-25-001072.hdr.sgml : 20250314 20250131163615 ACCESSION NUMBER: 0000000000-25-001072 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20250131 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: Paramount Global CENTRAL INDEX KEY: 0000813828 STANDARD INDUSTRIAL CLASSIFICATION: TELEVISION BROADCASTING STATIONS [4833] ORGANIZATION NAME: 06 Technology IRS NUMBER: 042949533 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD SEC FILE NUMBER: 001-09553 BUSINESS ADDRESS: STREET 1: 1515 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-258-6000 MAIL ADDRESS: STREET 1: 1515 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: ViacomCBS Inc. DATE OF NAME CHANGE: 20191204 FORMER COMPANY: FORMER CONFORMED NAME: CBS CORP DATE OF NAME CHANGE: 20060109 FORMER COMPANY: FORMER CONFORMED NAME: VIACOM INC DATE OF NAME CHANGE: 19920703 PUBLIC REFERENCE ACCESSION NUMBER: 0000813828-24-000007 LETTER 1 filename1.pdf begin 644 filename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end TEXT-EXTRACT 2 filename2.txt January 31, 2025 Naveen Chopra Chief Financial Officer Paramount Global 1515 Broadway New York, New York 10036 Re: Paramount Global Form 10-K for the Fiscal Year Ended December 31, 2023 Form 10-Q for the Nine Months Ended September 30, 2024 File No. 001-09553 Dear Naveen Chopra: We have reviewed your January 31, 2025 response to our comment letter and have the following comments. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Unless we note otherwise, any references to prior comments are to comments in our January 23, 2025 letter. Form 10-Q for the Nine Months Ended September 30, 2024 Notes to the Consolidated Financial Statements 2) Programming and Other Inventory, page 13 1. We note your response to prior comment 1. Please explain what were your normal routine impairments that took place in 2023 and 2024. Tell us how you determined they were different from the strategic impairments. 3) Impairment, Restructuring and Transaction-Related Costs, page 14 2. We note your response to prior comment 2. Please expand your response to explain in detail your consideration of the guidance in ASC 350-20-35-66 and the triggering event examples in ASC 350-20-35-3(C). Your response should address all of the examples and explain why you believe they were or were not applicable. In this regard, we note in your response to comment 1 of your letter dated December 16, January 31, 2025 Page 2 2024 you said, "the programming charges that occurred in 2023 and 2024 were due to major strategic changes that resulted in the removal of significant levels of content from our platforms, abandonment of development projects and termination of certain programming agreements," "[i]n connection with these strategic changes, in 2023, we combined Paramount+ and Showtime into a single integrated product offering across both the linear and streaming services and began a strategic review of our international content portfolio in order to rationalize our international product offerings as we shift to a global programming strategy," and "[t]he removal of this content from our platforms was a triggering event that required us to assess whether the affected programming assets were impaired." In light of these statements we continue to struggle to understand why such events and circumstances were not considered a triggering event to test for goodwill impairment. We specifically refer you to examples (e) and (f) in ASC 350-20-35-3(C). In addition, it appears your share price significantly declined in the second quarter 2023 and has not recovered. Tell us why this was not considered a trigger event. We refer to example (g) in ASC 350-20- 35-3(C). Please contact Inessa Kessman at 202-551-3371 or Robert Littlepage at 202-551-3361 if you have questions regarding comments on the financial statements and related matters. Sincerely, Division of Corporation Finance Office of Technology