Mark Simone believes CNN could face significant layoffs as Skydance looks to reduce expenses. The 710 WOR midday host pointed to the company’s debt following its acquisition of Warner Bros. Discovery.
What We Know: Skydance, which acquired Warner Bros. Discovery, is reportedly targeting $6 billion in cost reductions. The company now owns CNN, HBO and other Warner Bros. Discovery assets. However, the acquisition also left Skydance with substantial financial obligations. The company reportedly carries $87 billion in gross debt, with approximately $10 billion in cash on hand. Those financial pressures could lead to workforce reductions across its media properties.
Comments
No comments on this item Please log in to comment by clicking here