Paramount Skydance reported financial results for the first time since a new investor group took over the media company in August, raised its target for job cuts and cost-saving measures. The company, which has been trying to buy rival Warner Bros. Discovery, said in a letter to shareholders it plans an additional 1,600 job cuts as part of a goal to achieve at least $3 billion in cost savings. The parent of CBS and the Paramount film and TV studios forecasts $30 billion in revenue next year, slightly more than analysts’ estimates of $29.8 billion. Bloomberg News Senior Editor and Entertainment Team Leader Chris Palmeri joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)
Paramount Boosts Post-Merger Savings Target to $3 Billion
