Skydance Media Completes $8.4 Billion Acquisition of Paramount Global
Skydance Media has completed its $8.4 billion acquisition of Paramount Global, creating Paramount Skydance Corporation.
Key Points
- • Skydance Media acquires Paramount Global for $8.4 billion.
- • New entity, Paramount Skydance Corporation, will trade as PSKY.
- • CEO David Ellison outlines plans for restructuring and innovation.
- • FCC approved the merger with specific regulatory conditions.
On August 7, 2025, Skydance Media finalized its acquisition of Paramount Global for $8.4 billion, resulting in the creation of Paramount Skydance Corporation, which will trade on the Nasdaq under the ticker symbol PSKY. This merger marks a significant shift in the entertainment landscape, combining Skydance's production capabilities with Paramount's extensive creative library and global distribution network. CEO David Ellison will lead the new entity and emphasized the merger's focus on storytelling and innovation in content creation.
The restructuring plan involves three key divisions: studios, direct-to-consumer platforms, and traditional media. Immediate objectives include a reduction of operational costs by over $2 billion, consolidating streaming operations, and leveraging AI technology to enhance content delivery. The Federal Communications Commission (FCC) has approved the merger with certain regulatory conditions, such as appointing an editorial ombudsman for CBS News, ensuring neutrality in reporting.
Ellison stated, "Today marks an exciting and decisive moment as we prepare to carry the legacy of Paramount as a Hollywood institution into the future of entertainment." RedBird Capital's involvement is expected to strengthen the new company’s financial and operational framework, allowing it to adapt to evolving consumer trends and technological advancements. As the industry braces for competition from giants like Disney and Netflix, the new Paramount Skydance Corporation is poised to redefine entertainment in the coming years.