"Following a careful evaluation of Paramount’s recently launched tender offer, the Board concluded that the offer’s value is inadequate, with significant risks and costs imposed on our shareholders"
"Audio podcasting has been the fastest-growing medium over the past 20 years, and now we’re thrilled to expand that experience with an exciting new category—video podcasts"
In only one demographic -- Persons 18-34 -- did an ad-supported digital audio platform reach double-digits, as Spotify hit 11% in that specific sector.
The last-ditch effort by Paramount comes after the company shared its displeasure with the way the sale process has been handled by Warner Bros. Discovery.