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Posted on 10/06/2026 11:25:24 AM PDT by DFG
David Ellison’s $81 billion merger of Paramount and Warner Bros. Discovery officially closed Tuesday, creating a new media behemoth known as Skydance – and execs are already hinting at layoffs.
The combined company will include two historic film studios and their Hollywood lots; major streaming services HBO Max and Paramount+; CNN and CBS News; live sports channels including CBS Sports and TNT Sports; and thousands of iconic movie titles.
Ellison and Ynon Kreiz, his new co-CEO who was previously at Mattel, reportedly gestured at layoffs in a memo to employees Tuesday morning.
“Integrating two companies will bring change, including difficult decisions that affect our workforce. We are committed to handling this process thoughtfully and respectfully,” they wrote, according to Variety.
The deal crossed the finish line after settling an antitrust lawsuit brought by California Attorney General Rob Bonta and 11 other lefty AGs, who warned the deal could crush competition, raise consumer prices, limit choices and hurt workers.
Paramount previously said it is aiming to cut $6 billion in costs over three years, partially from layoffs – which has left staffers, including at CNN, panicking over a potential “bloodbath.”
In August, a report from Los Angeles County’s municipal government warned the merger could eradicate 4,500 film and TV jobs.
But Ellison ultimately appeased Bonta with pledges to spend an additional $1.5 billion on domestic production over the next five years and release 30 high-quality theatrical films each year.
Skydance’s Class B shares will start trading Tuesday on the New York Stock Exchange under the ticker symbol “SKYD,” the company said in a press release.
Warner Bros. Discovery shareholders have received an amount in cash equal to roughly $31.02 a share, as per the merger agreement. WBD shares ceased trading on the Nasdaq on Tuesday.
(Excerpt) Read more at nypost.com ...
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There are always layoffs after a big merger. Duplicate staffs are not necessary...........
What we've been dreaming about.
The acid taste in the backs of their mouths, the uncomfortable tightness in their breathing, the slowly increasing trembling and the small warm pools forming on their shoes.
Here’s hoping.
How true.
Fire Kristen Welker today.
Bring out your dead! Bring out your dead!
Yes, that was very noticeable when two or more banks merged.
Not as many branches or check processing staff are needed.
Great. Another company whose products I don’t need. Easier to avoid one company instead of two.
She is on NBC
Fire every one of these and turn CNN into a cartoon network:
Lead Anchors & Hosts
• Abby Phillip – Anchor of CNN NewsNight with Abby Phillip
• Anderson Cooper – Anchor of Anderson Cooper 360°
• Kaitlan Collins – Anchor of The Source with Kaitlan Collins
• Jake Tapper – Lead Political Anchor and host of The Lead with Jake Tapper
• Erin Burnett – Anchor of Erin Burnett OutFront
• Wolf Blitzer – Anchor of The Situation Room
• John Berman – Co-anchor of CNN News Central
• Sara Sidner – Co-anchor of CNN News Central
• Kate Bolduan – Co-anchor of CNN News Central
• Fareed Zakaria – Host of Fareed Zakaria GPS
Jake Tapper first please! Would love to see a picture
of his smug constipated face after being terminated.
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