Paramount Skydance reportedly doesn't intend to pick apart Warner Bros. Discovery if they're able to acquire their competitor.

The firings mark the first major restructuring since Skydance Media completed its $8.4 billion merger with Paramount Global in August.

With access to Washington and deep pockets, David Ellison's Paramount Skydance is the top contender to buy Warner Bros Discovery.

Paramount Skydance appears determined to purchase Warner Bros. Discovery, and a new report reveals that the Trump administration is backing billionaire, and Donald Trump ally, Larry Ellison's acquisition.

Paramount Skydance will cut about 1,000 jobs on Wednesday, a source close to the matter told AFP Monday, less than three months after the merger of the two media giants. The company did not immediately respond to a request to confirm the layoffs.

Paramount Skydance will cut 1,000 jobs this week in its first major restructuring since the merger. CEO David Ellison plans to slash costs and reshape the new Hollywood giant amid industry slowdown.

WBD CEO David Zaslav, meanwhile, believes he can make a case to the Trump administration that they should allow deals outside of Paramount Skydance, appealing to free market types in the

Paramount Global became “Paramount, a Skydance Corporation” earlier this year when billionaire David Ellison purchased control of the company, merging it with his Skydance. Around the same time, Sheridan and Paramount partnered on a new studio in Texas.