There are three media companies that own a movie and a TV studio, a streamer and a substantial number of cable channels: NBCUniversal, Warner Discovery and Paramount . The first two are both in the process of spinning off the majority — or all — of their ad-supported cable assets into new companies ready for private equity play. Do not expect Paramount to follow them under its new ownership following the acquisition by Skydance, the company’s leadership stressed at a press event on Wednesday in Los Angeles.

“There’s no question it’s super challenging business,” said George Cheeks , Paramount’s Chair of TV Media division which encompasses all linear networks, CBS as well as Paramount Media Networks’ MTV , Comedy Central, Nickelodeon and BET , among others. “But, the cable group, th

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