Hollywood Exteriors And Landmarks - 2022

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Paramount lays off 3% of workforce as media cost-cutting wave grows

The move follows an earlier round of layoffs in August that aimed to curb Paramount’s US headcount by 15%.

6/10/25 8:45AM

Paramount Global is trimming more jobs as the legacy media company grapples with shifting audience habits and rising pressure to cut costs.

In a Tuesday memo, the three men who jointly make up the company’s “office of the CEO” — George Cheeks, Chris McCarthy, and Brian Robbins — said affected employees would be notified by the end of the day. Paramount had already begun the process of slashing 15% of its US-based workforce in August.

“We recognize how difficult this is and are very thankful for everyone’s hard work and contributions. These changes are necessary to address the environment we are operating in and best position Paramount for success,” the execs wrote.

Layoffs have swept the media industry in recent weeks. Last week, Disney cut hundreds of staffers across its TV, film, and corporate finance divisions. Warner Bros. Discovery also recently laid off employees in its struggling linear TV business.

Paramount shares were flat on the news and have risen more than 13% year to date.

Nia Warfield

16h

Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

Max Knoblauch

9/10/25

As tariffs take root, August new vehicle prices climb by the most in more than 2 years

According to data from Cox Automotive, 17 vehicle brands raised prices of their new vehicles by more than 3% in August.

Ford Issues Recalls On Some Of Its Mach-E Mustangs And Aviators

Nia Warfield

9/10/25

Netflix taps Amazon to sell streaming ads in new partnership

Starting this fall, brands will be able to access Netflix’s premium ad slots using Amazon’s buying tech.

Millie Giles

WITHDRAWALS

9/10/25

Bank branches are still closing at breakneck speed in the US

Institutions like Chase and Wells Fargo closed 76 locations in just six weeks over the summer, per the OCC.

Indianapolis - March 2016: Chase Bank III

Nia Warfield

9/9/25

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

Paramount lays off 3% of workforce as media cost-cutting wave grows

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Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

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