$79 billion debt burden! Paramount (PSKY.US) acquisition triggers credit collapse, Fitch first to downgrade its rating to "junk"

Despite the fact that this transaction marks the birth of a vast entertainment empire encompassing film studios, streaming platforms, and cable television networks, the capital market has shown significant concern about its financial health. Due to the extremely complex leveraged operations and heavy debt burden involved in the deal, the new company's credit quality faced collective downgrades from major credit rating agencies within days of the agreement being reached.