Sources close to Network 10 have shut down reports the broadcaster is facing a “precarious” future amid a possible a multibillion-dollar round of cuts across parent company Paramount.
Mumbrella cited an ominous-sounding memo to staffers from Paramount’s co-CEOs which outlined their intentions to “modernise” by “eliminating duplicative functions and reducing the size of our workforce”.The Paramount memo also confirmed plans to “optimise our asset mix by divesting some of our assets” as part of the deal with Skydance.
Industry sources close to Ten also confirmed the $3 billion in “cuts” referenced by Mumbrella have been underway since the start of 2024.Ten axed expensive but underperforming franchises like The Masked Singer earlier this year. Picture: Ten. If the SkyDance merger does go through, it is not expected to be fully actioned until the first half of 2025.
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