Paramount's fourth-quarter loss and the Skydance merger are anticipated to be finalized by the first half of the year.

Paramount Pictures Inc. reported a fourth-quarter loss, despite significant growth in its streaming services. The company said it still expects to complete its merger with Skydance in the first half of this year. The company reported a net loss of $224 million, or 33 cents a share, in the fourth quarter, compared with a profit of $514 million, or 77 cents a share, in the year-earlier period. Analysts had expected earnings of 13 cents a share. Revenue rose to $7.98 billion from $7.64 billion in the year-earlier period, but missed the $8.01 billion expected by analysts. Revenue in the directvtoconsumer segment, which includes streaming, rose 8% to $2.01 billion. The streaming service Paramount+ added 5.6 million users, bringing its total to 77.5 million. Streaming revenue rose 16%, while average revenue per user rose 1%. Revenue in the film entertainment segment rose 67% to $108 million, driven by the releases of "Gladiator 2" and "Sonic the Hedgehog 3." Revenue in the television media segment fell 4% to $4.98 billion, due to fewer sports events and a decline in the linear television advertising market. Paramount said it still expects to complete the merger with Skydance, which is led by David Ellison, in the first half of 2025. The first step in the transaction is Skydance acquiring control of National Amusements, which is controlled by Paramount's Sally Redstone, and then Skydance and Paramount will merge. Skydance has worked with Paramount on many films, including "Top Gun: Maverick" and "Mission: Impossible 7: Dead Reckoning."