Skydance Officially Helms Paramount as Deal Closes

 With lofty promises of being “the next-generation media and tech giant”, we can finally draw a line under the Skydance-Paramount merger and look ahead to brighter things. With this long-awaited merger finally officially closed, we have Brandon Blake, the best entertainment lawyers in los angeles at Blake & Wang P.A., with the final details.

 


Brandon Blake

$8B Deal Closed

The newly combined company will be, as expected, under the leadership of David Ellison as CEO, with Jeff Shell (formerly of NBCUniversal) taking over as president. David Ellison has long been a champion of bringing technology and entertainment together, so it’s little surprise that that will be their first focus as they seek to bring ailing Paramount back into profit and prominence.

 

Among promises made in the shareholder letter, we see a unified technology stack and the merger of Pluto and Paramount+ into a single streaming offering. Of course, there were the usual promises of making Paramount the go-to entertainment option and commitments to support the creatives working under their banner. However, alongside that promise of “growth and efficiency” will inevitably come some shakeups and challenges, and many are anticipating further layoffs for the company as part of their planned $2B in savings, especially after the drawn-out approvals process has held back many developments for Paramount.

Animation, Sports, and Games Ahead

The new owners also want to expand Paramount’s offerings, looking to the animation and live sports offerings that have helped other companies secure their spot in the new media landscape. Shari Redstone, who was in charge of Paramount since the passing of her father in 2020, will step completely out of the limelight now. The 3-person team of Brian Robbins, George Cheeks, and Chris McCarthy, who were helming Paramount in the interim, are also mostly stepping out of the picture.

 

The news that business can finally go ahead without regulatory worries and uncertainty will no doubt be gratefully received by Paramount staff and Wall Street alike. Let’s hope this is the start of a new era for the Hollywood giant.

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