Skydance Media and Paramount Global have completed their long-planned $8.4bn merger.
The newly combined company is officially known as ‘Paramount, A Skydance Corporation’ and began trading on Thursday (August 7) on the Nasdaq stock market, under the ticker symbol PSKY.
The completion of the deal follows approval last month from the Federal Communications Commission (FCC).
Skydance’s two-step merger with Paramount, which involved first taking over its controlling shareholder, National Amusements, was backed by private equity firm RedBird Capital.
The combined entity is the parent company to a variety of media and entertainment assets, including CBS, Comedy Central, MTV, the UK’s Channel 5, streamer Paramount+ and the iconic movie studio.
Paramount is now under the control of CEO David Ellison, the son of billionaire Oracle co-founder Larry Ellison.
“Today marks an exciting and pivotal moment as we prepare to bring Paramount's legacy as a Hollywood institution into the future of entertainment. My vision is to honour exceptional storytelling while modernising how we make and deliver content to support the world's top creative talent, enhance experiences for audiences worldwide, and create sustainable value for our shareholders," Ellison said in a statement.
Under Skydance, Paramount will be restructured into three divisions: studios, direct-to-consumer and TV media.
In an open letter released with the deal close, Ellison added: “Moving forward, we will work with conviction and optimism to transform Paramount into a tech-forward company that blends the creative heart of Hollywood with the innovative spirit of Silicon Valley. By harnessing cutting-edge technologies to serve great storytelling, we will unlock the company’s enormous potential.”
Sky unveils plans for major redevelopment of Livingston campus
Sky has confirmed plans for a major investment in an expanded Scottish office in Livingston, having submitted a full planning application.
Christian Vesper steps down as Fremantle’s global drama and film CEO
Christian Vesper is to step down from his position as CEO of Global Drama and Film at production and distribution group Fremantle.
WPP launches single global production platform
Ad agency group WPP has launched a single production brand, WPP Production, to house its global production capabilities and teams.
Base FX opens London studio
Base FX, one of Asia's leading visual effects and animation studios, has opened a London studio as part of a strategic expansion into the European market.
Lesley Mackenzie to become Chair of DTG
The Digital TV Group (DTG) has appointed Lesley Mackenzie to take over in April 2026 as Chair of the association for British digital television broadcasters. Mackenzie will succeed Simon Fell in April 2026, who is stepping down after serving the maximum term permitted under the DTG’s constitution.
.jpg)
