The merger will take place in stages and should be completed in the first half of 2025
Skydance Media has officially acquired Paramount in a deal worth around $8 billion. The merger is expected to close in the first half of 2025.
As reported on the portal Deadlineo The studio’s board approved the plan for a two-step transaction, with the first stage being the acquisition of National Amusements Inc., the entity headed by Shari Redstone that controlled nearly 80% of Paramount’s stock, followed by the full merger.
With the merger, David Ellison, CEO of Skydance Media, will join the role of CEO of Paramount and Jeff Shell, former chairman of NBCUniversal, will serve as the company’s chief operating officer.
According to a statement sent to the international press, Skydance pointed out that it aims to “reposition Paramount to improve profitability, promote stability and independence for creators, and enable further investment in faster-growing digital platforms.”