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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.
Warner Bros. has released its last promotional trailer ahead of the holiday-season release of Dune: Part Three, the concluding film in Denis Villeneuve's adaptation of Frank Herbert's novels. The footage follows earlier teasers from March and July, and focuses on the next chapter for Paul Atreides, played by Timothée Chalamet, after the events of 2024's Dune: Part Two.
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 reportedly put $1 billion into Warner Bros. Discovery, the parent company of HBO, which is slated to air a documentary about him directed by Alex Gibney. Gibney has said he was assured the film would air on HBO despite the subject matter.
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.
Warner Bros. has produced an uncensored 4K restoration of Ken Russell's 1971 cult horror film 'The Devils,' a work long known for its controversial content and limited availability. The restored version reportedly presents the film without the cuts that have historically affected its distribution.
Production on 'The Batman Part II' has resumed after a pause, with Steven Soderbergh taking over to complete principal photography. Director Matt Reeves stepped away temporarily to attend to a family matter, prompting the studio to bring in Soderbergh to keep filming on schedule.
Netflix is cutting roughly 1,000 positions, about 6% of its workforce, which numbered around 16,000 last year, the Wall Street Journal reports. Co-CEOs Ted Sarandos and Greg Peters told staff in an email that the company must be disciplined about prioritizing resources while staying on track for its full-year forecast. The cuts follow Netflix's unsuccessful bid earlier this year to acquire Warner Bros., which ultimately went to Paramount Skydance.
Netflix confirmed it is laying off close to 1,000 employees, about 6% of its 16,000-person staff, with most cuts concentrated in product, technology, legal and human resources. Co-CEOs Ted Sarandos and Greg Peters told staff in an internal memo, first reported by The Wall Street Journal, that the company must be disciplined about prioritizing people and resources, while maintaining it remains on track to meet its full-year financial forecast.
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.