Paramount Skydance initiated a significant round of layoffs, impacting over 1,000 employees initially with plans for more, totaling about 10% of its workforce. CEO David Ellison cited a restructuring to align with new priorities following the controversial merger greenlit by the Trump administration. The company, now worth approximately $18 billion, owns major media properties like CBS and Nickelodeon. Amid these cuts, Ellison is pursuing a deal with Warner Bros. Discovery while also shaping the company’s editorial direction to focus on “American storytelling.”
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The Federal Communications Commission approved the merger between Paramount Global and Skydance Media, paving the way for an $8.4 billion sale including major entertainment assets like CBS and Paramount Pictures. This approval came after Paramount settled a lawsuit with Donald Trump for $16 million, a move criticized by some as a bribe, though the FCC chair maintained the review was separate from the settlement. The merger has raised concerns due to Skydance’s commitment to address conservative grievances and reduce diversity initiatives, a move that the sole Democratic commissioner believes erodes press freedom. Despite these concerns, the merger promises significant investment in Paramount’s operations and occurred alongside a new South Park episode that openly satirized the merger and its implications.
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Warner Bros. Discovery will split into two separate publicly traded companies by mid-2026: “Streaming & Studios,” led by David Zaslav, and “Global Networks,” led by Gunnar Wiedenfels. This restructuring aims to enhance strategic flexibility and capitalize on the growth of HBO Max while maintaining profitable global networks. The decision follows investor pressure and industry shifts, with the split intended to unlock the full potential of each business. Debt reduction, a significant factor in the decision, will primarily affect the “Global Networks” entity.
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I must admit, the news of Vice laying off hundreds of staffers and halting the publication of content on their website hits me hard. Vice used to be a beacon of raw, real, and edgy journalism that fearlessly delved into stories and locations that no one else dared to touch. I remember watching their documentaries on North Korea, the 2014 invasion of Ukraine, and the warlords of Liberia, and being astounded by the depth and boldness of their reporting. They brought stories to light that needed to be heard, shedding light on topics that were often swept under the rug.
The trajectory of Vice, from its early days of punk rock mentality and groundbreaking journalism to its current state of uncertainty and layoffs, is disheartening.… Continue reading
John Q. Hosedrinker