00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Skydance outlined plans to achieve at least $6 billion in cost savings over the next three
00:08years following its Warner Brothers Discovery acquisition, according to CNBC. The company
00:14expects at least $2.2 billion in savings from reducing corporate functions, eliminating management
00:20layers, and expanding AI use. Streamlining marketing will generate at least $1 billion
00:26in savings. Combining streaming operations and technology will contribute around $1.4 billion,
00:33with another $1.4 billion from consolidating purchasing and cutting overlapping expenses.
00:39Skydance has begun offering employee buyouts ahead of layoffs. The company plans to offer
00:44a Paramount Plus and HBO Max bundle early next year before eventually merging the services.
00:50Skydance will use AI to speed up film production and lower costs, which co-CEO David Ellison
00:56said, could make original storytelling more financially feasible.
00:59For all things money, visit benzinga.com.
