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The Paramount–Skydance merger is officially happening, reshaping the entertainment landscape in a big way. Here's the breakdown:
🏛️ Deal Overview
Skydance Media and Paramount Global are merging to form Paramount Skydance Corporation, a new media and tech powerhouse.
The deal is valued at $8.4 billion, with Skydance acquiring National Amusements, Paramount’s controlling shareholder.
David Ellison (Skydance CEO) will lead the new entity as Chairman and CEO, while Jeff Shell becomes President.
💰 Financials & Ownership
Skydance’s investor group (Ellison Family + RedBird Capital) will:
Pay $2.4B for National Amusements.
Inject $1.5B into Paramount’s balance sheet.
Offer $4.5B in cash to public shareholders.
Post-merger, they’ll own 100% of Class A shares and ~70% of Class B shares.
📺 Strategic Moves
Paramount’s brands—CBS, Nickelodeon, MTV, BET, Comedy Central, Paramount+—will be revitalized with tech-driven infrastructure and creative-first leadership.
Skydance plans to expand into animation, gaming, sports, and interactive media, including Marvel and Star Wars console games.
🧩 Regulatory Drama
The FCC approved the merger on July 24, 2025, after months of legal and political turbulence, including a lawsuit settlement with President Trump over a 60 Minutes interview.
Skydance agreed to appoint a CBS News ombudsman and eliminate Paramount’s DEI programs, sparking controversy over press freedom and editorial independence.
🕰️ What’s Next
The merger is expected to close by October 5, 2025, barring any last-minute regulatory blocks.
Paramount’s legacy transitions from the Redstone family to a new era under Ellison, with a focus on profitability, innovation, and creator autonomy.
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