Skydance details plans to cut $6B in costs, sets streaming bundle for early next year

Skydance says it plans to save $6 billion over three years following its acquisition of Warner Bros Discovery, while launching a bundle of HBO Max and Paramount+ early next year. The savings are central to integrating the companies and managing the debt from the deal, as the combined group competes with major media firms and online platforms.

The company expects to achieve 30% of the planned savings in the first year, including at least $2.2 billion from corporate overhead and property, $1 billion from marketing and about $1.4 billion from technology. HBO Max and Paramount+ together reach 203 million subscribers globally; Skydance will stop reporting quarterly subscriber figures. The acquisition left it with $87 billion in gross debt and about $10 billion in cash, and it warned that Warner Bros film underperformance could reduce fourth-quarter profit by up to $200 million.