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Paramount Skydance's Bold Plan: 30 Movies a Year
Description
David Ellison, Paramount Skydances chairman, unveiled a ambitious plan to release thirty movies annually post-Warner Bros. Discovery merger, currently valued at $111 billion. The deal, set to close by September, includes iconic franchises like Harry Potter, Game of Thrones, and Yellowstone, along with networks like CBS and CNN. However, its accompanied by $79 billion in debt, prompting cost-cutting measures and bridge financing. The merger faces opposition from over 4,000 filmmakers and actors, including Bryan Cranston and Jane Fonda, who urged regulators to block it. Paramounts first quarter results exceeded expectations, with revenue up 2% to $7.3 billion and Paramount Plus subscribers reaching 80 million. The company aims for $30 billion in full-year revenue, despite cable network declines due to cord-cutting.
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