Paramount Skydance, led by CEO David Ellison, plans to retain much of Warner Bros Discoverys core operations if the two media giants merge, Bloomberg News reported on Monday. According to the report,

Paramount Skydance will cut around 1,000 jobs this week in the first phase of a sweeping global restructure, with another round of layoffs expected later as the newly merged entertainment giant moves to slash costs and consolidate operations.

Paramount Skydance is set to announce its third-quarter results next month, and analysts project its EPS to remain the same as the previous-year quarter.

Paramount Skydance, led by CEO David Ellison, plans to retain core Warner Bros Discovery components if a merger happens. Despite Warner Bros' board rejecting a $60 billion offer, the merger could integrate HBO Max and Paramount+ while maintaining cable networks.

Warner Bros. Discovery has launched a formal auction of the media giant, with bankers at JPMorgan and Allen & Co. combing through expressions of interest from multiple suitors – including one

Warner Bros Discovery put itself on the sales block this week with Paramount in pole position. A look at the process and other potential suitors.

Paramount Skydance eyes media deal opportunities as CEO David Ellison weighs potential Warner Bros. Discovery bid.