US EditionSkydance Closes $8 Billion Paramount Acquisition
UNITED STATES, AUG 7 – The $8 billion merger follows FCC approval after regulatory review and aims to modernize content delivery and enhance creative storytelling, Paramount's CEO said.
- David Ellison's Skydance Media finalized its $8 billion deal to merge with Paramount Global on Tuesday, signaling a significant transformation in the entertainment industry.
- The merger followed months of political scrutiny and received FCC approval in late July, alongside Paramount’s $16 million settlement with Donald Trump.
- Ellison outlined a plan to transform Paramount into a technology-driven company by reorganizing business units, integrating streaming services, and investing in exclusive content.
- He emphasized honoring storytelling, empowering journalists, achieving $2 billion in cost savings, and moving Paramount+ and PlutoTV onto a shared technology platform to reduce costs.
- Paramount announced Stephen Colbert's late-night show would end in May 2026 due to profitability concerns, reflecting ongoing strategic changes under the new ownership.
51 Articles
51 Articles
Paramount is now a Skydance Corporation
It’s official: Skydance Media’s deal to purchase CBS parent company Paramount Global for $8 billion is complete, and incoming chairman / CEO David Ellison’s first order of business is a massive restructuring. In an open letter about his plans for Paramount, a Skydance Corporation (the merged companies’ new name), Ellison announced that, going forward, the business will be split into three distinct units: studios, direct-to-consumer, and TV media…
Los Angeles (USA), 7 Aug (EFE).- Skydance Media and Paramount Global announced on Wednesday the official closure of their merger, consolidating the acquisition of one of Hollywood’s most iconic studios. “Today is the first day of a new Paramount. With the closure of the transaction, we united more than a century of iconic narratives with the ingenuity and momentum of a 15-year study born in the digital age,” said David Ellison, president and exe…
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