Skydance details cost cuts, sets streaming bundle for early next year
LOS ANGELES: Skydance on Monday detailed plans to deliver $6 billion in cost savings from its Warner Bros Discovery acquisition and said it would launch a streaming bundle of HBO Max and Paramount+ early next year.
Shares of the company dropped about 2% to $8.50 in after-hours trading.
The merger created one of the world’s largest entertainment and news companies under the name Skydance, led by CEO David Ellison and co-CEO Ynon Kreiz. The combined entity includes Hollywood studios Warner Bros and Paramount, the CBS broadcast network, CNN and a host of cable channels.
