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Tech News
Employees at the newly merged Paramount Skydance, formed from Paramount and Warner Bros. Discovery, were told this week they must return to the office five days a week. Those unwilling to comply can instead accept a severance package of two weeks' pay per year of service, with a decision deadline of 8 p.m. PT on November 8. HR told staff the buyout is a one-time offer and no further programs are planned.
Skydance, the studio created by the recently closed $111 billion merger of Paramount and Warner Bros. Discovery, has told employees they must return to the office five days a week. The company is also offering voluntary buyout packages to certain staff.
Skydance CEO David Ellison and co-CEO Ynon Kreiz told staff in an Oct. 26 memo that the company is launching a Voluntary Buyout Program for eligible employees as it merges Paramount and Warner Bros. Discovery. The same memo imposes a mandatory five-day-a-week in-office policy companywide, with layoffs still expected as Skydance pursues over $6 billion in annualized cost savings within three years.
Netflix has carried out a series of executive firings following missed ad revenue targets, slower growth, and the collapse of its bid to acquire Warner Bros, which went instead to David Ellison's Paramount. Co-CEO Ted Sarandos told investors that Netflix's content performs well globally but acknowledged the company needs 'better execution' in the US, where growth has lagged expectations.
Elon Musk has put roughly $1 billion into Skydance, the newly merged media company, according to a Semafor report. The investment followed Paramount's $110 billion acquisition of Warner Bros. Discovery and came alongside equity contributions from other investors, including board member Laurene Powell Jobs. Skydance, led by co-CEOs David Ellison and Ynon Kreiz, has pledged to cut $6 billion in costs over three years.
A new series adaptation of the 1960s science-fiction classic 'Voyage to the Bottom of the Sea' is in development at Paramount+, with Star Wars actress Daisy Ridley attached. Details on the project's plot, release timing, and Ridley's specific role remain unconfirmed.
Walmart is offering a bundled annual membership combining Walmart+ and Sam's Club Plus for $120, roughly $100 less than buying both separately, according to CNBC. The package includes Sam's Club warehouse access, free delivery from both retailers, a streaming subscription to Peacock or Paramount+, gas discounts and 2% cash back on eligible Sam's Club purchases, with existing members able to link accounts to get the lower price.
JustWatch, the streaming guide used by 50 million people, is launching JustWatch TV, a new service combining free and paid content tiers with a movie rental store. The service debuts with content from 30 partners, including Paramount, Cineverse, LEONINE Studios, SND and Altitude.
A proposed merger between Paramount and Warner is drawing scrutiny over its implications for media concentration in the United States. The deal has prompted renewed comparisons to warnings from media critics about the dangers of a small number of corporations controlling the bulk of the nation's communications infrastructure.
The US Supreme Court is reviewing Salazar v. Paramount Global, a case alleging that Paramount's 247Sports.com shared a newsletter subscriber's video-viewing data with Facebook without consent. The plaintiff, Michael Salazar, argues this violated the 1988 Video Privacy Protection Act, a law originally written to prevent video-rental stores from disclosing customer records.
Discovery+ has increased its ad-free plan from $10 to $12 per month and its ad-supported tier from $6 to $7, effective immediately for new subscribers. Existing subscribers will see the new rates applied starting with bills issued on or after November 12, following a 30-day notice period.
Discovery+ has increased its monthly pricing, with the ad-supported tier rising $1 to $7 and the ad-free tier rising $2 to $12. The changes apply immediately to new subscribers, while existing members will see the new rates on their first bill on or after November 12, following a 30-day notice period.