Paramount shares drop as top execs unveil $500M cost-cutting plan amid Skydance talks

Paramount Global shares slipped Tuesday after top executives laid out a sweeping restructuring plan that includes $500 million in annualized cost cuts — as the company's future remains murky amid talks of a potential merger with Skydance Media. The executives — CBS President and CEO George Cheeks; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios; and Paramount Pictures President and CEO Brian Robbins, — have led the company since the exit of former boss Bob Bakish in April, who left a ...