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The newly merged media group expects to realise 30% of its savings in the first year, including $1 billion in marketing cuts, while preparing to combine HBO Max and Paramount+ within roughly a year
The deal brings Paramount+, HBO Max, CBS, CNN and two major Hollywood studios under one company, with plans to eventually unify its streaming services
While Andy Gordon will be President, Rebecca Mall named Chief Marketing Officer, Mark Thompson remains Chairman and Editor-in-Chief of CNN, & Bari Weiss to be Editor-in-Chief of CBS News