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2h ago

Skydance Confirms HBO Max–Paramount+ Bundle and $6 Billion Savings Plan

Skydance says the bundle will begin unifying its streaming services to free savings that management plans to use to reduce a very large post‑deal debt burden.

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In an aerial view, the Paramount logo is displayed on a water tower at the Paramount Studios lot on July 13, 2026 in Los Angeles, California.
The Skydance logo is displayed at the New York Stock Exchange (NYSE) in New York City, US, October 8, 2026. REUTERS/Jeenah Moon/File Photo
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Overview

  • The company said Monday that the legacy Paramount business posted about $7 billion in third‑quarter revenue and roughly $73 million in net profit.
  • Skydance confirmed a single HBO Max–Paramount+ bundle will launch in early 2027 and that the two services’ backend systems are targeted to be aligned within about a year of the deal close.
  • Management laid out a plan to deliver at least $6 billion in run‑rate cost savings over three years, with roughly 30% of those savings expected to appear in year one.
  • The savings plan breaks down into cuts to corporate overhead and real estate (about $2.2 billion), marketing (about $1 billion), technology (about $1.4 billion), and procurement/vendor spend (about $1.4 billion).
  • Skydance carries roughly $80–87 billion of gross debt after the acquisition, has set a goal to reduce net leverage toward roughly 3.0x by 2029, and has begun leadership reshuffles, voluntary buyouts, and office‑policy changes that signal further workforce and organizational shifts.