Media And Entertainment Company Cuts Nearly 1,000 Jobs
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According to people familiar with the matter, Netflix has hired Moelis & Co., the investment bank that advised Skydance Media on its successful Paramount Global deal, to evaluate a prospective offer.
Netflix has reportedly retained a financial advisory firm Moelis & Co to explore a potential bid for Warner Bros. Discovery. The streaming service has reportedly enlisted the investment bank to evaluate a potential offer for Warners’ streaming and studio business,
Paramount Skydance has just signed a 10-year lease for Bayonne’s 1888 Studios. Paramount is set to occupy more than 285,000 square feet of the planned 58-acre facility, which will have 1.1 million square feet of production space and 23 smart sound stages.
CBS News eliminated multiple streaming programs on Wednesday as part of newsroom-wide layoffs, just one part of Paramount's sweeping job cuts and a blow to the news organization's headcount as Bari Weiss' already turbulent tenure as editor in chief gets into full swing.