Expect 'dramatic' moves from Skydance after $8B merger with Paramount, says Puck's Matt Belloni

Merger & Acquisition - The FCC approved Paramount's $8 billion merger with Sky Dance Media [1] - Sky Dance is expected to make significant moves post-merger, potentially including selling off Paramount Global's cable networks [2] - Dramatic cost-cutting measures are anticipated, with Sky Dance promising approximately $2 billion in cuts [4] Content Strategy & Cuts - Potential merger of Paramount Plus and Pluto, Paramount's free streamer, is being considered [2] - Paramount is pursuing a film deal with Will Smith [3] - CBS may face cuts in scripted programming, potentially managing it as a legacy declining asset [5] - Paramount Plus may shift towards less expensive shows, potentially impacting Taylor Sheridan's productions [6] - The Daily Show's future is uncertain due to its profitability, raising concerns about potential censorship of Trump critics [10][11] CBS News & Potential Acquisition - Negotiations are underway for Sky Dance or the new Paramount/CBS to acquire Barry Weiss's Free Press [12] - Free Press is valued between $200 million and $250 million [13] - David Ellison aims to bring in a center-right commentator to CBS News, potentially signaling a shift in the network's perceived bias [13][14]