Entertainment Giants Restructure Amid Major Merger Moves

In a recent shakeup, Disney is laying off several hundred employees across various divisions, while Paramount Global nominates three directors as Skydance merger awaits approval. Meanwhile, Mattel merges its film and TV units to form Mattel Studios, aiming to replicate the success of its 'Barbie' movie.

In a major restructuring effort, Disney is set to lay off several hundred employees across its film, television, and corporate finance sectors. A source indicated that these cuts will affect various teams globally, including those in film and TV marketing, publicity, and development.

Meanwhile, Paramount Global's strategic board reshuffle might strengthen its leadership as it waits for regulatory approval on its proposed $8.4 billion merger with Skydance Media. Newly nominated directors include Mary Boies, Charles Ryan, and Roanne Sragow Licht.

In an effort to harness its brand power, Mattel announced the merger of its film and television units to form Mattel Studios. Led by Robbie Brenner, the new unit aims to produce content that mirrors the commercial success of its 'Barbie' movie.

(With inputs from agencies.)