Skydance plans to cut $6B in costs following Warner Bros. deal

Skydance detailed plans Monday to slash at least $6 billion in annual costs following its combination of Paramount and Warner Bros. Discovery as it grapples with a massive debt load from the deal.

The company emerged from the $81 billion Warner deal with $87 billion in debt and roughly $10 billion in cash. Skydance plans to cut costs by eliminating layers of management, combining operations and reducing technology expenses. It hopes to bring its debt down to more manageable levels by the end of 2029.

Eventually, Skydance aims to reduce duplicative spending across its expense base of more than $50 billion. 

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