Core Insights - Paramount Skydance Corporation has appointed Makan Delrahim as Chief Legal Officer, effective October 6, 2025, to oversee legal, regulatory, compliance, and public policy matters [1][2][3] Group 1: Appointment and Role - Makan Delrahim will manage Paramount's Government Relations team and bring extensive experience from his previous role as Assistant Attorney General overseeing the U.S. Department of Justice's Antitrust Division [1][2][3] - Delrahim's background includes advising on high-profile transactions and complex litigation at Latham & Watkins LLP, where he provided legal counsel during the M&A process leading to Paramount's acquisition [2][4] Group 2: Leadership Perspective - David Ellison, Chairman and CEO of Paramount, expressed enthusiasm for Delrahim's appointment, highlighting his strategic mindset and experience in navigating complex challenges as vital for Paramount's future [3] - Delrahim emphasized the dynamic nature of the media industry and his commitment to contributing to Paramount's leadership team during this transformative period [3] Group 3: Delrahim's Background - Delrahim has a distinguished career in antitrust law, having overseen numerous mergers and acquisitions and led initiatives for international antitrust cooperation during his tenure at the DOJ [5][6] - His previous roles include senior positions in various governmental agencies, showcasing his extensive experience in law and policy [6][7] Group 4: Company Overview - Paramount, a Skydance Corporation, is a leading global media and entertainment company with segments in Filmed Entertainment, Direct-to-Consumer, and TV Media, housing renowned brands such as Paramount Pictures and CBS [8]

With a market cap of $12.9 billion, Paramount Skydance Corporation (PSKY) is a leading global media and entertainment company with a diverse portfolio spanning film, television, streaming, and interactive content. Operating through its Studios, Direct-to-Consumer, and TV Media segments, the company delivers entertainment to audiences worldwide. Companies valued at more than $10 billion are generally considered “large-cap” stocks, and Paramount Skydance fits this criterion perfectly. Its brands include Par ...

Core Viewpoint - Warner Brothers Discovery is facing rare pessimism amid discussions of a potential merger with Paramount Sky Dance, highlighting challenges in the linear TV business and the need for strategic consolidation [1][6]. Company Overview - Warner Brothers Discovery has a valuable content catalog and a successful streaming service with HBO Max, but struggles with its linear TV operations, particularly CNN and TNT [3][4]. - The company is exploring potential synergies through a merger with Paramount Sky Dance, which faces similar challenges in its linear TV business [5][6]. Market Sentiment - Recent stock movements for both Warner Brothers and Paramount suggest investor optimism regarding potential synergies and profitability improvements from a merger [13]. - Despite a 56% increase in Warner Brothers' stock over the past month, there are concerns about revenue growth compared to competitors like Netflix [14][8]. Antitrust Considerations - The merger raises antitrust concerns, as combining two of the five major Hollywood studios could create unfair advantages and reduce competition for smaller studios [6][7][12]. - There is apprehension regarding the potential reduction of consumer choice in streaming services if Paramount and HBO Max were to merge [7][11].

Core Points - Paramount Global is laying off 3.5% of its US workforce as part of ongoing cost-cutting measures due to declining cable TV subscribers [1] - The company previously reduced its workforce by 15% last year as part of a $500 million cost-cutting plan [1] - Paramount ended 2024 with 18,600 employees worldwide [1] Company Strategy - Co-CEOs stated that the layoffs are necessary to streamline the organization and prioritize the streaming business amid industry-wide declines [2] - The executives emphasized the need to address the current operating environment to position Paramount for future success [2] Workforce Impact - The layoffs will primarily affect the US workforce, but there is potential for future cuts to the international workforce [3] Merger and Legal Issues - Paramount is awaiting regulatory approval for its $8.4 billion merger with Skydance Media, which is currently in limbo due to ongoing legal issues [3] - The company is involved in mediation talks regarding President Trump's $20 billion lawsuit related to CBS News' "60 Minutes" program [5][6] - The Federal Communications Commission is investigating the lawsuit, which could impact the merger approval process [5]