Halloween may be behind us, but there’s nothing scarier than the TV industry right now, where the layoffs just keep coming.
Disney, Netflix, Scripps, and more have recently enacted major cuts across divisions. And many more “cost efficiencies” are likely on the way in the industry, especially with mega-mergers like Fox’s $22 billion Roku acquisition in the mix.
However, the biggest specter looming is the $110 billion merger between Paramount and Warner Bros. Discovery to create Skydance.
The newly created Skydance is currently facing around $80 billion in debt, and the company says it is planning for cost savings of $6 billion-plus in “run-rate synergies” over the next three years, while also bringing on more outside investment, including around $1 billion from Elon Musk.
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