Paramount Global had much to crow about in the direct-to-consumer segment of its business during its third-quarter earnings report on Thursday. That helped to offset some of the less favorable news on the traditional side of its television business — which related in part to the softness in the global advertising market and the lack of political dollars.
The company’s TV media division, which includes the broadcast and cable networks along with the TV stations, saw an ad revenue decrease to $1.7 billion, down 14% when compared with the same quarter last year. Affiliate and subscription revenue was essentially flat, with pay-per-view event dollars making up for a loss in affiliate fees.
Total revenue for TV media stood at nearly $4.6 billion, down 8% from same quarter last year. And the adjusted OIBDA (operating income before depreciation and amortization) for the division…
