Get the latest gossip
Skydance Targets $2 Billion-Plus in Cuts After Paramount Merger
Skydance plans to make as much as $2 billion in cost cuts after it acquires Paramount Global, largely to overhaul its linear TV businesses
Skydance executives who are set to take over the owner of CBS, Nickelodeon and MTV have identified at least $2 billion in cost cuts that can be made at the company, much of it from its linear media operations, according to Jeff Shell, who is slated to be named president of the new entity. Executives believe in the potential for linear media, said Shell, but need to make changes to wring cash flow. The cost cuts,, targeted with the help of consultants at Bain & Co., can be made “quickly,” Shell said.
Or read this on Variety