Paramount is looking to cut between 2,000 to 3,000 jobs by early November, after the completion of its merger with production studio Skydance, Variety reported on Friday.

Paramount Skydance said it will become the exclusive distributor of TKO Group's UFC events in a seven-year deal worth $7.7 billion.

Two House Democrats said they would examine whether Paramount Global and Skydance Media accepted “illegitimate demands” from President Donald Trump to secure approval of their July merger. Representatives Jamie Raskin of Maryland and Frank Pallone of New Jersey pointed to a financial settlement Paramount reached with the president shortly before the merger was approved and a statement Trump made that Skydance agreed to provide him with millions of dollars worth of free public service announcements.