The question is which brands keep a room of their own.

Adweek reports the Skydance merger has closed, putting HBO, HBO Max, Paramount+, CBS, CNN, TNT, Nickelodeon, MTV, and BET under one company. Adweek says the company carries roughly $80 billion in debt and that layoffs are coming.

The fan-facing calendar is where this will show first. Networks that used to compete for the same convention hall, the same upfront room, and the same festival slot now answer to one owner. Expect some of those presences to merge.

The question is which brands keep a room of their own. That decision will say more about the new company's priorities than any org chart.