Why Cash on Hand Is King for Major Hollywood Companies Hoping to Weather the Coronavirus Storm

“The companies that will be hit the hardest are those that are highly leveraged,” analyst Tuna Amobi says

Hollywood is in preservation mode as major media and entertainment companies scramble for cash injections, refinancing and cost-cutting all in attempts of weathering the financial impacts of the increasing spread of the novel coronavirus.

On Friday, ViacomCBS announced it planned to raise $2.5 billion in funds through a new debt offering, and vowed to offset expected revenue losses through cost-saving initiatives.

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Trey Williams

Trey Williams

Film Reporter covering the biz • trey.williams@thewrap.com • Twitter: @trey3williams