Skydance Targets $6B Savings

It's Benzinga, bringing Wall Street to Main Street. Skydance outlined plans to achieve at least $6 billion in cost savings over the next three years following its Warner Brothers Discovery acquisition, according to CNBC. The company expects at least $2.2 billion in savings from reducing corporate functions, eliminating management layers, and expanding AI use. Streamlining marketing will generate at least $1 billion in savings. Combining streaming operations and technology, will contribute around $1.4 billion, with another $1.4 billion from consolidating purchasing and cutting overlapping expenses. Skydance has begun offering employee buyouts ahead of layoffs. The company plans to offer a Paramount Plus and HBO Max bundle early next year before eventually merging the services. Skydance will use AI to speed up film production and lower costs, which co-CEO David Ellison said could make original storytelling more financially feasible. For all things money, visit Benzinga.com.