Paramount Skydance Posts Loss Plans Streaming Push | JQJO

Paramount Skydance reported a third quarter loss as shrinking TV advertising and distribution bit, with pro forma revenue down 3% to $6.1 billion, ad sales off 12% and distribution fees down 7%. In its first period under the Ellison family’s leadership, the company lifted post merger cost saving goals to at least $3 billion, about two thirds from non labor costs, and signaled further job cuts. It is betting on streaming, striking a $7.7 billion UFC deal, buying The Free Press for $150 million, and targeting $30 billion in 2026 revenue while planning Q4 restructuring and transformation costs.