Congress fears the loss of jobs in Hollywood amid Warner Bros. acquisition [Los Angeles Times (CA)]
Paramount Skydance Corporation - Class B (PSKY)
Company Research
Source: Los Angeles Times
In an open letter addressed to Netflix Co-CEOs Ted Sarandos and Greg Peters, and Paramount Skydance Corporation CEO David Ellison, U.S. Sen. Adam Schiff (D-CA) and Congresswoman Laura Friedman call for the industry giants to make “concrete commitments to Californian and American workers.” Late last year, Netflix won the highly anticipated bidding war for Warner Bros which would give the streamer control over Warner Bros.' storied Burbank film and TV studios, HBO and HBO Max. The pending $72-billion deal would greatly reshape the Hollywood landscape. Separately, Paramount has continually thrown in counter-bids and has been consistently rejected With all of these moving pieces, there's a bipartisan fear among the nation's lawmakers about how the acquisition could impact jobs in the U.S. entertainment industry . As stated in the letter, the industry “supports more than 680,000 jobs and contributes over $115 billion annually to the regional economy.” Given the slowdown the industry
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PSKY
Earnings
- 11/10/25 - Miss
PSKY
Sec Filings
- 2/10/26 - Form 4
- 2/10/26 - Form 4
- 2/10/26 - Form 4
- PSKY's page on the SEC website