Warner Bros. Discovery splits streaming and cable
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Paramount Global plans to cut several hundred employees on Tuesday due to a continuing decline in the cable-TV industry and the broader economic landscape.
Bob Iger positioned Disney's linear networks as an advantage over rivals like WBD and Comcast/NBCU that are spinning off their cable TV assets.
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As studios continue to downsize, Paramount Global is the latest to announce layoffs. The company said Tuesday that it would be laying off 3.5% of its domestic staff.
Lake Forest residents who prefer to watch city meetings on cable television will continue to have that option as the City Council did not approve a staff recommendation to suspend the channel.
Four years ago, David Zaslav insisted that Discovery Communications together with what was then called WarnerMedia was more than the sum of its parts. They had a “formidable” lineup of global assets, he said.