Paramount Skydance shares jump over 5% as Ellison unveils $1.5B bet on streaming

Core Insights - Paramount Skydance shares increased by over 5% during pre-market trading following the announcement of deeper cost cuts and a $1.5 billion investment plan in streaming and studio operations [1] Company Summary - The newly merged media group, Paramount Skydance, is implementing significant cost reductions to enhance financial performance [1] - The company plans to allocate $1.5 billion towards its streaming services and studio initiatives, indicating a strategic focus on expanding its digital content offerings [1]