A whole year after ParamountS Board of Directors approved a deal for Paramount to merge with SkydanceThat deal has finally ended and the merger of $ 8 billion is officially complete.
The deal had been delayed for months in the middle of a distance with the Trump administration, which sued “60 minutes” and network CBS, accused them of favorably editing an interview with Kamala Harris. Paramount Chairman Shari Redstone finally decided on the President of $ 16 million, shortly after paved the way for the FCC to approve the merger.
This means that one of the oldest studios in Hollywood has exciting new owners in Falling and David Ellisonwhich will become new CEO and chairman of Paramount Global. Ellison has promised to marry Paramount – which owns Paramount Pictures, CBS, Paramount+, Pluto TV and cable channels such as Nickelodeon, MTV and Bet – With Skydance’s financial resources and technical progress.
Skydance and Paramount collaborated on “Top Gun: Maverick” and “Mission: Impossible” franchise, and Skydance brings with him an animation department led by former Pixar -Manager John Lasseter, a gaming department and his own business with NFL to pair with CBS’s sports law. While Skydance always seemed to be the best option for creatorsIt can still lead to many changes. Fate too Paramount+ remains the biggest questionas well as Paramount’s Legacy cable channels that have previously been for sale.
Today’s contract closure ends the longest, most extended and hectic example of M&A activity in the latest Hollywood memory. Skydance at a time pulled out an acquisition Before you come in again, Other tenders showed up during a “go -shop” periodLike moods that said Paramount did not really consider other offers. The Trump atmosphere was the largest and last remaining obstacle, and although the mood was considered by many legal experts, it remained in Limbo when the distance continued until Redstone invoked. And with the merger that pulled out as long as it did, it threatened to be completely interrupted – compulsory Redstone to pay a death fee to Skydance – if a deal was not closed in October.
Over the past year, Paramount has driven by a CEO’s TrioParamount Pictures’ Brian Robbins, Showtime’s Chris McCarthy and CBS’s George Cheeks, and it is unclear who will stay at the company under new leadership. Ellison brings with him former NBCUNIVERSAL manager Jeff Shell as the company’s president, as well as Redbird CEO (and former CNN manager) Jeff Zucker and Skydance Creative Chief Dana Goldberg in leadership roles.
More to come …
