Warner‑Bros and Paramount Merge, CBS Radio Goes Quiet

The big media deal between Warner‑Bros Discovery and Paramount Skydance is moving forward, but it still needs government approval. During the early stages of the merger, CBS News Radio is being shut down as part of a broader cutback plan that Paramount is carrying out. About six percent of CBS staff, roughly seventy people, will lose their jobs, a rise from the earlier October cut that targeted one hundred workers. Warner‑Bros is trying to keep as many people employed as possible. It plans to use its HBO Max platform to promote the TNT Sports subscription service. Customers who sign up for a yearly TNT Sports plan will also receive an ad‑supported HBO Max tier for just a few dollars more each month.

David Ellison, who helped lead the merger effort, sent a letter to California lawmakers offering assurances that Hollywood jobs will stay in the state. He says the new company can create a strong creative community, bring more stories to audiences, and compete worldwide. Ellison also pledged an annual slate of fifteen films, shared licensing agreements, and a guaranteed theatrical window for new releases. Wall Street analysts have given the stock a “Hold” rating, with most experts expecting only modest upside. After a significant rise in share price last year, the average target price suggests a small chance of further gains. The merger could reshape how media companies operate, but the loss of CBS News Radio shows that not all outcomes are positive.

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