The news comes as Pinterest has faced serious headwinds. Shares tumbled over the past year, with disappointing earnings, layoffs affecting 15% of its workforce, a declining ad business, and increased rivalry from AI chatbots.
Ellison reassured investors that HBOβs identity and creative vision as a studio would remain unchanged, stating, βOur viewpoint is HBO should stay HBO.β
Learn more about Paramount's planned acquisition of Warner Bros. Discovery β a historic Hollywood megadeal valued at $111 billion β as it continues to develop.