$80bn debt to trigger ‘bloodbath’ as CBS Sports and TNT Sports head for massive job cuts

CBS Sports and TNT Sports are heading for a merger and it is not going to be pretty. Paramount has bought Warner Bros. Discovery in a deal worth $110 billion with the two forming one entity called Skydance. With $80 billion in debt, the new company needs to cut costs and investors have been promised $6 billion in synergies. Unfortunately, that also means a lot of people are likely about to lose their jobs.