Everything you need to know about Paramount’s Merger with Skydance


By - Che Browndon
Written-on - July 12, 2024

Paramount

There’s been a major update regarding the entertainment industry which has taken over the internet by storm. This is about the Paramount merger with skydance. If you have no idea, Paramount has officially agreed to merge with skydance. In this article, I am going to talk about this mergers and what it means.


Paramount and Skydance


Founded in 1912, Paramount is an American film and television production and distribution company. The company is responsible for major films and franchises in Hollywood such as Shrek, Titanic, Transformers 2007 and much more. It’s pretty well known. Skydance similar to Paramount is an American film and television production company created in 2010 by David Ellison. It’s also responsible for some well renowned films/franchises for instance The Terminator Sequels, The Mission Impossible sequels and even Top Gun: Maverick


Paramount Merger with Skydance


Some days ago, it was revealed Paramount has agreed to merge with Skydance. This merger was sealed after a deal between both parties involved and it’s guaranteed to benefit both. This information was released on Paramount's official Press release details which highlighted the agreement between both parties involved. This agreement is now referred to as “The New Paramount”.


Details about the Agreement


According to the agreement, Shari Redstone (who is the chairperson of Paramount and the daughter of Sumner Redstone) will sell National Amusements, Inc. (NAI) for $2.4 billion. Shari holds her family’s controlling stake at Paramount. Skydance will ten invest $8 billion in Paramount officially merging with Paramount. This investment will be seen as a merger because skydance will purchase Paramounts shares including National amusement and also pay off some of the company’s balance sheet. There have been several reports emphasizing on how Paramount has been on a deficit meaning Paramount’s products and services aren’t doing well financially which can be attributed to streaming losses and a decline in broadcasting. The merger with skydance via its investment will assist the company with its deficits.


The goal and benefits of the merger


The goal of this merger is to bring a “next-generation media and technology leader”. This will be done by bringing together skydance financial resources, operating experience and cutting-edge technology and on Paramount’s end, we have its iconic IP of Film and TV library including popular franchises and also it’s streaming platforms. This merger will aims to therefore increase profitability, strengthen Paramount leading to more investment. This merger will unite key intellectual property, it will expand Paramount’s animation capabilities and also bringing skydance gaming expertise into the picture.


New Management Team


Details about the management team was also revealed during this Press release. The Chairman is going to be David Ellison who is also the founder of Skydance and the son of Oracle’s Larry Ellison. Ellison is also going to be the new Chief Executive Officer (CEO) replacing former Paramount CEO, Bob Bakish. Jeff Shell is going to be its new President. In order to commemorate this agreement, David Ellison said “This is a defining and transformative time for our industry and the storytellers, content creators and financial stakeholders who have invested in Paramount Legacy and the longevity of the entertainment economy. I am incredibly grateful to Shari Redstone and her family who have agreed to entrust us with the opportunity to lead Paramount. We are committed to energizing the business and bolstering Paramount with contemporary technology, new leadership and a creative discipline that aims to enrich generations to come”


Closure


The New Paramount is currently valued at $28 billion. This article did not contain all details revealed. To read the Press release for yourself to be more versed, you can click here. This Press release has more information about the merger which you might find highly valuable


Related


Spotify

Spotify’s new price for Premium subscribers and the reason for the Price Increase

There has been frequent updates regarding a subscription price increase from major platforms such Netflix and even Crunchyroll. Unfortunately for ...................


Written by - Che Browndon


Fall Guys Fortnite

Why Fortnite x Fall Guys update was postponed to Summer 2024

Earlier this year, Fortnite x Fall Guys was revealed and it was confirmed there would be an update in May 2024 or next month. This decision was changed ...................


Written by - Che Browndon


Fortnite IOS

Game Emulators are now allowed in the Apple App Store

Last month, it was confirmed Fortnite will be returning to Apple store. The Epic Games store will also come to both Android and IOS as well as ...................


Written by - Che Browndon


Fortnite Mobile

Epic Games Store will be coming to Android and IOS with Fortnite

Fortnite was released in 2017 eventually becoming one of the most popular games in the world. Fortnite at its peak of its popularity became cross platform and even made its way ...................


Written by - Che Browndon


Darth Vader Brawlhalla

Darth Vader will be coming to Brawlhalla for the Brawlhalla Star Wars Event

I wrote about Obi-Wan Kenobi and Anakin skywalker coming to Brawlhalla for the upcoming Brawlhalla Star wars Event which begins on March 20, 2024. ...................


Written by - Che Browndon


Lady Gaga X Fortnite Collab

Lady Gaga to collaborate with Fortnite for the upcoming Fortnite Festival

There is a major Fortnite update. Fortnite latest update is expected for tomorrow and there’s a lot of information circulating on social media. Some of these are just rumors but ...................


Written by - Che Browndon


X formally known as Twitter

Elon Musk reveals real name Doxxing on X will result in Account Suspension

Let me briefly explain what Doxxing is for better understanding. Doxxing is a means of publishing someone’s real life information on the Internet without his/her consent. ...................


Written by - Che Browndon


X Video download

X will soon give users control to determine who can or cannot download videos

Some time ago, I wrote an article about the brand new Download feature on X. With this brand new feature, Users can now download Videos on X but ...................


Written by - Che Browndon


Windows 11 coopilot AI kEy

Microsoft reveals new AI Key for Windows 11 PC’s

Five days ago (January 4, 2024), Microsoft announced a new AI key for Windows 11 PC’s. Microsoft revealed this information on the official window website and various social media platforms. ...................


Written by - Che Browndon


Grok AI

Grok will soon add an option that shares answers directly to your X timeline

Grok is X’s new AI technology developed in partnership with xAI. It was created as a means of competing with OpenAI’s chatGPT which ...................


Written by - Che Browndon


PS5

Sony has reportedly sold 50 million PS5 units since its official release in 2020

Sony made an announcement earlier this week and it was about the number of PlayStation 5 consoles sold. According to this ...................


Written by - Che Browndon


Clyde Chatbot

Discord to deactivate its AI chatbot, Clyde, as of December 1st

On Friday 17, November 2023 Discord announced it’s going to deactivate its AI chatbot Clyde and making it inaccessible as of December 1st 2023. Discord users won’t be able to access Clyde ...................


Written by - Che Browndon


xAI Grok

X is moving towards AI powered personalization and platform control with the introduction of Grok

X is working on more ways to control what you see on the platform and avoid what you don’t like. X formally known as Twitter has been prone to frequent updates after Elon Musk's acquisition ...................


Written by - Che Browndon


X subscription tiers

X introduces the Basic and Premium+ subscription plans and the ability to upgrade and downgrade subscription tiers

The X help center just revealed new information about its subscription tier. X right now is offering two new tiers which are basic and Premium+. This new update was ...................


Written by - Che Browndon


X likes and repost count

X to remove Interaction counts from the main timeline, leaving only view counts

There’s once again another update about X, formally known as Twitter. For months now, X has been prone to frequent update; some good, some bad and others which ...................


Written by - Che Browndon


Threads

Meta is reportedly looking for ways to revive interest in Threads as its traffic continues to decline

Three months ago, Thread was one of the fastest growing social media platforms achieving over 100 million new sign ups in just a few days ...................


Written by - Che Browndon


Umbrella Academy final season

According to Netflix, “The Umbrella Academy” ends at Season 4

Popular Netflix Series Umbrella Academy is once again coming back to screens. The Umbrella Academy Season 3 was released a year ago and since then there hasn’t been any major update ...................


Written by - Che Browndon


Reddit

Reddits new contributor program will allow Monetization of text posts

Reddit recently announced a Contributor program which awards users real money for their fake internet points. Eligible users ...................


Written by - Che Browndon


About-us


Privacy Policy


Advertisement


Article Policy


Terms Of Use




Copyright © 2025 ComicCone.com. All Rights Reserved