Paramount Skydance CEO: We'll restructure business to run efficiently & invest in growth areas

Business Strategy & Restructuring - Paramount aims to restructure its business for greater efficiency and invest in growth areas like studios, streaming, and sports [3] - The company is focused on long-term value creation rather than short-term stock price management [4] - Paramount needs to become a scaled streaming service to replace its cable business, requiring investment in content and technology [6] Financial Performance & Synergies - Paramount has announced $2 billion in synergies and expects to significantly exceed that number [2] - Cutting costs alone is not a viable growth strategy [3] Streaming Service (Paramount Plus) - Paramount Plus has approximately 77 million subscribers and is considered subscale [7] - The company aims to improve the user experience and tech stack of Paramount Plus to increase engagement [9][10] - Increasing engagement on Paramount Plus requires more content and a better platform [10] Content & Partnerships - Paramount's content engines, including those from Skyens, have contributed significantly to top original content rankings [9] - The company highlights the quality of its content, particularly mentioning Taylor Sheridan's work and sports partnerships with the NFL [8] Linear TV - Broadcast, particularly CBS, is not declining as rapidly as cable [5] - Cable is being replaced by direct-to-consumer services [6]