// Workers AI · dad joke modeWhat did Paramount Skydance say to the pilot? "Sky's the limit.
A request that this article title be changed to Skydance is under discussion. Please do not move this article until the discussion is closed. |
It has been suggested that Skydance Corporation be merged into this article. (Discuss) Proposed since October 2026. |
The company's primary corporate headquarters at the Paramount Pictures studio lot in Los Angeles, California | |
| Paramount | |
| Formerly | Paramount, a Skydance Corporation |
| Type | Public |
| ISIN | US69932A2042 |
| Industry | |
| Predecessors | |
| Founded | August 7, 2025 |
| Founder | David Ellison |
| Fate | Merged with Warner Bros. Discovery to form Skydance Corporation |
| Successor | Skydance Corporation |
| Headquarters |
|
Area served | Worldwide (except Russia, Belarus and North Korea) |
| Key people | David Ellison (chairman and CEO) |
| Products |
|
| Brands | |
| Services | |
| Revenue | |
| Total assets | |
| Total equity | |
| Owners |
|
Number of employees | 17,600 (2025) |
| Divisions | |
| Subsidiaries | List of assets owned by Paramount Skydance |
| Website | www |
| Footnotes [4][5][6] | |
Paramount Skydance Corporation (doing business as Paramount; formerly Paramount, a Skydance Corporation)[7] is a soon to be rebranded multinational [[mass media]] and [[entertainment]] conglomerate located in the Hollywood neighborhood of Los Angeles, California,[5] and Paramount's secondary and operational headquarters, alongside many of Paramount's divisions and subsidiaries, as well as one of Paramount's major offices and meeting places is headquartered at the previous Paramount Global headquarters at One Astor Plaza in New York City.[8] CBS, a major Paramount asset, is also headquartered in New York City, but at the CBS Building and the CBS Broadcast Center both in Midtown Manhattan.
Paramount Skydance also houses major offices and operations at the previous Skydance Media headquarters in Santa Monica, California. Larry and David Ellison control the company, owning 77.5% of the voting shares and 47.2% of all shares.[1] RedBird Capital Partners own 22.5% of the voting shares and 13% of all shares.[2][3]
Paramount Skydance was formed on August 7, 2025, by David Ellison, through the merger of Skydance Media, Paramount Global, and National Amusements.[9][10][11][12] The company trades under the ticker symbol "PSKY" on the Nasdaq.[13]
Shortly after its formation, Paramount Skydance began pursuing an unsolicited bid to acquire Warner Bros. Discovery and subsequently won a bidding war for the company in February 2026. Paramount Skydance's purchase of WBD was approved by the U.S. Department of Justice on June 12, 2026.[14] A subsequent anti-trust lawsuit by 12 state attorneys general (led by California) initially led Paramount to delay the closure of the acquisition until June 1, 2027,[15] and a federal judge ruled in favor of holding a trial for the lawsuit in March 2027.[16] Ultimately, on September 21, 2026, Paramount Skydance reached a settlement with the states, which included provisions for independent editorial boards at CNN and CBS News and a commitment by Paramount to release 30 films annually, with a $30 million penalty for each film below that target.[17] On October 2, 2026, David Ellison announced that Paramount Skydance will be restructured and renamed to Skydance Corporation, and its stock will be traded on the New York Stock Exchange under the ticker symbol "SKYD" upon the merger's forthcoming completion, which is scheduled to close on October 6, 2026.[18]
Background
[edit]| 1912 | Famous Players Film Company was established as a partnership between Adolph Zukor and the Frohman Brothers |
|---|---|
| 1914 | Paramount Pictures was incorporated by W.W. Hodkinson as a film distributor that Famous Players and Jesse Lasky soon began releasing their films through |
| 1916 | Zukor and Lasky bought out Paramount and brought together their operations into Famous Players-Lasky, forming the first vertically integrated studio system |
| 1918 | Jack, Sam, Abe, and Harry Warner moved their film operations to California and purchased a studio lot that began housing Warner Bros. Pictures by 1923 |
| 1922 | Time Inc. was founded by Henry Luce and Briton Hadden, and at its peak, it was the largest magazine company with titles such as Time and Fortune |
| 1927 | Through the release of the Jazz Singer, Warner Bros. became a major film studio by pioneering the use of sound in film. CBS Radio News was also founded |
| 1929 | Paramount and Warner Bros. entered into a merger agreement, but the deal collapsed due to concerns over stocks and the eventual Great Depression |
| 1933 | The Depression led to Paramount becoming the first Hollywood studio to experience bankruptcy, and it reemerged through corporate restructuring |
| 1948 | The Golden Age of Hollywood ended with the U.S. Supreme Court approving the Paramount Decree ruling, which required film studios to divest their movie theaters |
| 1955 | Two years after selling its movie theaters, Warner Bros. created its television unit to reach new streams of revenue and appointed William T. Orr to oversee it |
| 1961 | Riverside Memorial and Kinney Parking were consolidated into one company called Kinney Service Corp., which later became Kinney National |
| 1966 | Gulf and Western Industries acquired Paramount Pictures and made it a subsidiary. Desilu Productions was renamed Paramount Television |
| 1967 | Seven Arts acquired Warner Bros. from Jack Warner, and the companies were merged into Warner Bros.-Seven Arts |
| 1969 | Warner Bros.-Seven Arts was acquired by Kinney National and by 1972, the company divested its non-media assets and became Warner Communications |
| 1970 | Ted Turner bought a failing UHF station in Atlanta and renamed it WTCG, with the channel's name referencing his business, Turner Communications Group |
| 1979 | Warner-Amex Satellite Entertainment was formed by Warner Cable and American Express, and it launched a multitude of cable networks like MTV |
| 1980 | CNN was launched by Ted Turner as the first 24-hour news network, and its format helped spawn a new genre of television |
| 1985 | Viacom, a former CBS division and future subsidiary of National Amusements, purchased Warner-Amex, and Turner proved unsuccessful in buying CBS |
| 1989 | Paramount Communications, the successor to Gulf and Western, tried blocking the Time Warner merger, but the lawsuit failed, and the deal went through |
| 1994 | Viacom acquired Paramount, changing it from a cable company into one of the world's largest media conglomerates |
| 1995 | Westinghouse Electric acquired CBS, and Time Warner and Viacom launched The WB and UPN as rival networks to capture teen and young adult audiences |
| 1996 | Time Warner reclaimed its status as the world's largest media conglomerate after acquiring Turner Broadcasting System |
| 2000 | Viacom acquired CBS Corp, and AOL and Time Warner announced their merger in what was the largest merger during the height of the Dot-com bubble |
| 2003 | Following historic losses and failed synergies, AOL Time Warner reverted back to its old name of Time Warner and began divesting non-core businesses |
| 2005 | National Amusements separated its media holdings into the second iteration of Viacom and CBS Corporation |
| 2006 | Skydance Media was established by David Ellison, the son of Larry Ellison, and The WB and UPN were merged into The CW due to years of unprofitability |
| 2018 | Time Warner was acquired by AT&T and renamed to WarnerMedia, with plans to have HBO be repositioned as a streaming service called HBO Max |
| 2019 | Viacom and CBS Corporation remerged under the name ViacomCBS, and by 2021, it renamed the CBS All Access streaming service to Paramount+ |
| 2022 | Warner Bros. Discovery was formed following the merger of WarnerMedia and Discovery, Inc., and ViacomCBS renamed itself Paramount Global |
| 2025 | A three-way merger between Skydance, Paramount, and National Amusements was completed, with the resulting company being Paramount Skydance |
| 2026 | After the Paramount-Warner Bros. deal received approval, the merged company renamed itself Skydance Corporation, with Paramount and Warner Bros. becoming sister studios within it |
Through an assortment of corporate mergers, splits, and partnerships, Paramount Pictures, CBS, Viacom, and Skydance Media shared a long history prior to the 2025 merger joining the entities as Paramount Skydance.[19]
1912–1986
[edit]Paramount Pictures was founded in 1912 as the Famous Players Film Company.[20] CBS was founded in 1927, which Paramount Pictures held a 49% ownership stake in from 1929 to 1932.[21][22]
In 1952, CBS formed CBS Television Film Sales, a division which handled broadcast syndication rights for CBS's library of network-owned television series.[23][24][25] This division was renamed CBS Films in 1958[26][27] and again renamed CBS Enterprises Inc. on December 1, 1967.[28][29] It was renamed Viacom (an acronym of Video and Audio Communications) in 1970.[30] In 1971, this syndication division was spun off amid new FCC rules forbidding television networks from owning syndication companies. These rules were eventually abolished completely in 1993.[31]
Meanwhile, Paramount Pictures was acquired by Gulf and Western Industries in 1966, which then re-branded itself as Paramount Communications in 1989.[32]
1986–2005
[edit]In 1986, Viacom purchased MTV Networks and Showtime/The Movie Channel Inc. from Warner Communications and American Express.[33] In 1987, a majority stake in Viacom was acquired by theater operator company National Amusements.[34]
Viacom then purchased a 50.1% stake in Paramount Communications in February 1994 for $9.75 billion, following a five-month battle with shopping channel QVC. The merger was completed in July.[35][36][37] In 1999, Viacom made its biggest acquisition to date by announcing plans to merge with its former parent CBS Corporation (the renamed Westinghouse Electric Corporation, which had merged with CBS in 1995). The merger was completed in 2000, resulting in CBS reuniting with its former syndication division.[38][39]
2005–2022
[edit]On December 31, 2005, Viacom was split into two companies: the second incarnation of CBS Corporation, the former's corporate successor, and the second incarnation of Viacom, which was formed as a spin-off.[39][40] The two companies re-merged in 2019, forming ViacomCBS, renamed to Paramount Global in 2022.
Skydance Media was founded in 2006 by David Ellison.[41] In 2009, Skydance and Paramount Pictures signed a five-year co-financing, production and distribution agreement, with Paramount holding an additional option of distribution.[41] That deal would later be extended twice in 2013 and 2017.[42][43]
History
[edit]Formation
[edit]In 2023, after struggling with debt and striving to remain competitive in the entertainment industry, Paramount's parent company, National Amusements, explored potential merger and acquisition opportunities for Paramount Global. Numerous prominent companies, such as Sony Pictures, Warner Bros. Discovery, Apollo Global Management, Warner Music Group, Allen Media Group, and Skydance Media, had indicated their interest in exploring potential business partnerships or purchasing the company.[44][45][46]
After first coming to a merger deal with Skydance, Paramount and Skydance canceled the proposed merger on June 11 due to unsatisfactory conversations. Following a break in the talks, Skydance was able to reach a preliminary agreement on July 2, 2024, to perform a 3-way merger between it, National Amusements, and Paramount to establish what was then known as "New Paramount".[47] After the merger closed, Skydance Media CEO David Ellison became the chairman and CEO of the combined company and Jeff Shell became the president.[48]
Paramount said in February 2025, and May 2025, that it expected the transaction to close within the first half of the year, but it did not happen.[49][50] With the deal not yet approved, the first automatic extension to July 7, 2025, went into effect on April 8, 2025,[51][52] after which the second automatic extension to October 4, 2025, went into effect on July 7, 2025.[53][54] The SEC and the European Commission (EC) approved the transaction in February 2025.[55] On July 24, 2025, the FCC approved the merger between Paramount Global and Skydance Media.[56][57][58][59]
Merger restructuring
[edit]On August 4, 2025, Paramount Skydance announced some of its new leadership alongside Ellison and Shell, with Andy Gordon joining as COO and strategy officer; Cindy Holland leading streaming services Paramount+ and Pluto TV; Dana Goldberg and Josh Greenstein co-leading Paramount Pictures; and Paramount Global veteran George Cheeks leading television networks.[60] It was also announced the same day that the company would comprise 3 major units: studios (consisting of Paramount Pictures, Skydance Pictures, Nickelodeon Movies and other divisions such as those for film, television and video games), direct-to-consumer (Paramount+ and Pluto TV) and television media (CBS, BET, MTV, Nickelodeon among others). It also announced the merger of Showtime/MTV Entertainment Studios and Skydance Television into a revival of Paramount Television Studios to be headed by Matt Thunell. Oversight of the television units would be split, with Thunell heading the studios division (focusing on the streaming services) and George Cheeks overseeing production for the television media division (focusing on the linear networks), as well as South Park, which renewed its standing with Paramount in a deal worth $1.5 billion.[61][62][63] Three months later in October following Paramount Skydance's relaunch of Paramount Television Studios, it was announced that Nickelodeon Group's live-action studio Nickelodeon/Awesomeness Live-Action aka Nickelodeon Productions and Awesomeness' production studio including Nickelodeon's & Awesomeness' production slates was folded into Paramount Television Studios, with the relaunched studio taking over Nickelodeon's current production slate alongside Awesomeness' current productions, and would produce their future production slates beginning with the upcoming Victorious spin-off series Hollywood Arts which was originally ordered at Nickelodeon had moved to Netflix as its first Nickelodeon-branded series produced by the revived studio.[64]
On August 5, 2025, Paramount Skydance announced layoffs of around 1,000 employees and a slashing of $2 billion in operating costs, alongside interest in a merger of Paramount+ and Pluto TV with assist from Oracle Corporation.[65] On August 7, Jeff Shell announced that Paramount Skydance was exploring a sale of the NAI cinemas.[66] On August 8, Paramount announced that they would be based in the Paramount Pictures lot in Los Angeles, departing from One Astor Plaza for the first time since the first Viacom moved there in 1994.[5][67] On August 11, Paramount announced a seven-year deal with TKO Group Holdings where Ultimate Fighting Championship (UFC) will be exclusively distributed in the United States. UFC's 13 marquee numbered events and 30 "Fight Nights" will air on its streaming platform, Paramount+, with select numbered events also set to simulcast on CBS starting in 2026.[68][69]
On August 13, 2025, Paramount announced that Top Gun 3, Star Trek, and other projects were now priorities. Paramount executives are looking to release twenty films per year.[70][71] Cindy Holland, chairperson of direct-to-consumer, said, "We want to entertain all audiences around the world. On Paramount+ today, we have a really great foundation, which is the Taylor Sheridan universe. We also have incredible CBS next-day, live sports, a lot from the cable networks, franchises like Star Trek, so many series. We're seeking to expand that and make sure that we’re offering programming for everybody not just occasionally, not just for the one thing they came to watch but ultimately and hopefully a year round and a daily habit for all audiences."[72] Streaming films will not be a priority per Ellison.[73] Also that day, Shell announced $2 billion in cuts. "We do not want to be a company that has layoffs every quarter. So, it is important for us to get done what we're doing in one big thing and then be done with it," Shell said.[6] On August 19, Paramount announced a four-year deal with Matt and Ross Duffer, the creators of Stranger Things, for movies, television and streaming projects at Paramount+. The agreement will commence following the conclusion of their current deal with Netflix in April 2026.[74][75][76]
On September 2, 2025, Paramount Pictures announced that they and Microsoft-owned Activision Blizzard had signed a deal that will see the studio develop, produce and distribute a live-action film based on the Call of Duty franchise, which Ellison, a long-time fan of the series, considered a "dream come true".[77] On September 3, Paramount Pictures announced that they signed a first-look, multi-picture deal with Will Smith and his company Westbrook. The deal will include films like Sugar Bandits and Rabbit Hole. Westbrook will also relocate to the Paramount lot in Hollywood.[78] On September 4, Paramount Pictures and Legendary Entertainment announced a three-year worldwide film distribution deal. Under the deal, Paramount will market and distribute Legendary-developed and -produced theatrical films globally, excluding China, where Legendary East handles all marketing and distribution activities. Warner Bros. Pictures will continue to globally distribute films from select Legendary franchises including Dune: Part Three and Godzilla x Kong: Supernova (outside of Japan, which will be handled by Toho). The first film under the Paramount deal will be the live-action adaptation of the Street Fighter video game series.[79] Also on September 4, Paramount announced a return to office policy that requires all employees to be in the office five days a week.[80] On September 5, it was announced that Piers Morgan Uncensored will move from YouTube to 5 where it will air as a 90-minute highlights show starting September 12.[81]
On September 12, 2025, Paramount Skydance announced they would be launching a sports media division called Paramount Sports Entertainment, the division would produce scripted and unscripted programming for its own platforms as well as third-party media companies and streaming services, while also developing sports-focused interactive games and experiences while also housing Skydance Sports. The division is also expected to collaborate with CBS Sports, but it will not be directly involved in live sports broadcasts. The division would be led by Skydance Sports chairman Jesse Sisgold.[82][83][84][85] On September 16, Paramount Skydance added AI executive Dennis K. Cinelli to its board as an independent director, effective immediately. The appointment expands the body to 11 directors.[86]
On September 17, 2025, it was announced that Marc Weinstock would be stepping down from his role as President of Worldwide Marketing and Distribution at Paramount Pictures. His departure comes as Josh Goldstine, the former marketing chief at Warner Bros., is expected to take over the position, according to media reports.[87] On September 23, A former top official in the Trump Administration, Makan Delrahim, is in advanced talks to join the newly merged Paramount Global in a major legal role, according to sources with direct knowledge.[88][89] On September 26, Pam Kaufman exited her role as Paramount President and CEO of International Markets, Global Consumer Products and Experiences.[90]
On October 6, 2025, it was announced that Paramount Skydance named Bari Weiss as editor-in-chief of CBS News after acquiring her outlet The Free Press,[91][92] a deal valued at $150 million.[93] On October 23, Paramount Skydance sold its Argentine television network Telefe alongside its regional stations in Santa Fe and Córdoba, its international channel Telefe Internacional, its production divisions and its content library to holding company Grupo Televisión Litoral, a company of businessman Gustavo Scaglione and José Luis Manzano.[94] On October 27, The Hollywood Reporter announced that Taylor Sheridan was leaving Paramount for NBCUniversal as Paramount did not offer Sheridan an offer to stay.[95][96][97][98] Also on October 27, it was announced that John Dickerson would be leaving CBS News, where he had been employed for over 16 years.[99] On October 29, upcoming layoffs were announced, about which Ellison stated that in “some areas, we are addressing redundancies that have emerged across the organization. In others, we are phasing out roles that are no longer aligned with our evolving priorities and the new structure designed to strengthen our focus on growth ".[100] Paramount announced anchors Dana Jacboson and Michelle Miller as well as producer Brian Applegate of CBS Saturday Morning would be a part of the 2,000 layoffs planned.[101][102] The company announced the layoffs of motion picture divisions, including production, literary, marketing and music including executives Randy Spendlove, Bryan Oh, Geoff Stier, Andres Alvarez, Rachel Cadden, Christine Benitez, and Phil Cohen. Also TV Executives Teri Fleming, Pamela Soper, Amanda Palley, Rose Catherine Pinkney, Robi Reed, Wendy Plaut, Amanda Culkowski, Margaret Comeaux, Jeff Grossman, Patricia Kollappallil, Gregory Heller, Amy Campbell, and Andrea Ballas were a part of the layoffs.[103][104][105]
On October 30, 2025, Matt Thunell announced the department heads in areas such as Creative, Production, Business Affairs & Legal, Finance & BA, with some functions, including Talent & Casting and Corporate were either staying, newly hired, or promoted to different departments. Those named are Head of Development Shelley Zimmerman, EVP of Current Series Carolyn Harris, President of Showtime/MTV Entertainment Studio Keith Cox, Head of Production Drew Brown, Head of Business Affairs Virginia Lazalde-McPherson, EVP, Legal Affairs Lance McPherson, and Head of Finance Mel Rauch. Matt Hengemuhle moved from SVP, Financial Planning & Analysis to Direct to Consumer. Tricia Wood, EVP Casting for Paramount Pictures will also cast for Paramount Television Studios. Those leaving are EVP and Head of Global Production for Showtime/MTVE Keri Flint, EVP, TV Business & Legal Affairs for Skydance Jeff Hegedus, CFO, Paramount Media Networks, Showtime/MTVE Studios Candice Brancazio, EVP, Head of Live-Action Series, Films & Talent, Nickelodeon and Awesomeness TV Shauna Phelan, and EVP, Head of Global Talent and Content Development for Showtime/MTVE Trevor Rose.[106]
On November 10, 2025, the Los Angeles Times reported that Paramount laid off 1,600 employees in South America in exchange of a reduction of 15% of its workforce and cost savings which are worth $3 billion.[107] The next day, 600 employees chose the severance package and left their jobs instead of returning to the office.[108] On November 14, Paramount announced its decision to sell Chilevisión to Vytal Group.[109] Also that day, U. S. House of Representatives Jamie Raskin and Frank Pallone, the top two Democrats on the House Energy & Commerce Committee, said Paramount had not fully cooperated with their investigation in the settlement agreement between Skydance, Paramount Global, and President Trump. In August, they had requested documents from Paramount, communications with the Trump administration, the Federal Communications Commission (FCC), and internal communications concerning the merger between Skydance and Paramount.[110][111]
On December 4, 2025, Paramount unveiled its TV Media leadership team. Under these changes, Laurel Weil would lead programming across the division. Jeannie Scalzo would lead MTV with Sitarah Pendelson handling all of the channel's programming. Jurles Borkent would now lead Nickelodeon Kids & Family after being president of the channel's international unit while Ari Pearce would lead Comedy Central.[112] On December 31 of the same year, Paramount shut down the various MTV music channels outside of the United States (MTV 80s, MTV 90s, MTV 00s, Club MTV, MTV Live, MTV Hits, MTV Base, and MTV Music), marking the end of their broadcasting of music in those regions after 38 years (dating from the launch of MTV Europe) alongside a number of other channels which included channels in France and Brazil, the latter marking its exit from the Brazilian pay-television market.[113] This closure represented the definitive end of the MTV brand on Brazilian television, following its 1990 launch as a broadcast network in one of the first markets outside the United States, after MTV Europe, and its relaunch by Viacom on cable television in 2013.[114]
In September 2026, Netflix and Paramount Skydance announced that their agreement would conclude after the releases of Ray Gunn and the untitled Jack and the Beanstalk project, with the latter assuming theatrical-first distribution for future projects. This includes Cosmic Motors, a new film directed by John Lasseter and co-directed by Louie del Carmen.[115]
Departure of Jeff Shell and merger with Warner Bros. Discovery
[edit]This section may incorporate text from a large language model, which is prohibited in Wikipedia articles. (August 2026) |
In September 2025, The Wall Street Journal and others reported that Paramount Skydance was weighing a takeover of Warner Bros. Discovery, a deal that, unlike the Skydance–Paramount tie-up, was expected to sidestep Federal Communications Commission review because WBD holds no broadcast licenses.[116] The idea drew immediate political scrutiny, with Senator Elizabeth Warren urging regulators to stop it,[117] while price talk swung widely: early chatter reached about $70 billion,[118] mid-month commentary pointed to the mid-$50 billion range,[119] and by September 19 reporting centered on scenarios "north of" $45 billion alongside a potential $22–$24 per-share offer structure that could be 70–80% cash, with support from Larry Ellison. By September 29, CNBC's David Faber suggested a friendly agreement looked unlikely and that Paramount might need to take any bid directly to WBD shareholders.[120][121][122]
Industry voices spent the month debating what such a combination would mean. UTA chief David Kramer called it a mixed prospect for Hollywood,[123] and FX Networks chairman John Landgraf predicted that large-scale consolidation among legacy studios was essentially unavoidable.[124] Strategically, observers noted the sheer scale on offer: Paramount Skydance's roughly 4,500-film (including the entire of Miramax, pre-2005 Dimension Films, pre-February 1952 United Artists and pre-2011 DreamWorks Pictures libraries), 200,000-episode library (including the CBS/Paramount Television, Spelling Television, Big Ticket Television and libraries from the cable networks alongside the pre-1973 programming libraries of NBC and ABC) alongside Warner Bros.' catalog of about 10,000 films (including the pre-May 1986 MGM and pre-May 1982 Orion Pictures libraries) and 120,000 episodes (including the Turner, HBO, Discovery and Scripps legacy libraries).[125][126][127][128][129] Much industry speculation centred around how this could change competition, and the line-up of streaming services such as Pluto TV.[123][130] Financially, late-month research cautioned that even post-deal, most earnings power would still come from traditional TV: Bernstein Research estimated roughly 70% of EBITDA would be tied to linear networks, even as KPMG highlighted US content spend surpassing $200 billion and continuing to rise.[131]
On December 5, Netflix announced that they would be buying the Warner Bros. streaming and studio company for $72 billion after the split closes in the third quarter, valuing WBD at $82.7 billion. Although Netflix ultimately won the bidding process, the transaction was still subject to regulatory approval in multiple jurisdictions.[132] Amid the ongoing antitrust review, reports indicated that Paramount Skydance might consider launching a hostile takeover bid should the approval process create an opening.[133] Three days later, Paramount launched a hostile takeover bid of WBD for an enterprise value of $108.4 billion.[134] Paramount argued its $30 per share all-cash offer was superior to the $27.75 per share offer from Netflix, and that a combination with Paramount faced lower regulatory hurdles.[135] On December 11, Paramount Skydance was considering raising its takeover offer for Warner Bros. Discovery by as much as 10% as it plots its next move to break up a merger agreement with Netflix. The new offer of Warner Bros. for Paramount would now be $33 per share for $90 billion, while the new offer of Warner Bros. for Netflix would now be $30.75 per share for $86 billion.[136] On December 17, WBD told its shareholders to reject Paramount's bid, instead proceeding with the Netflix acquisition.[137]
On January 7, 2026, it was reported by Variety that Warner Bros. Discovery's board of directors had rejected the amended offer by Paramount Skydance to acquire the entire company, with the board writing in a SEC filing that they considered the Paramount Skydance offer to be of "insufficient value", and that the offer was "inadequate", as they believed the Netflix offer was of better value to their shareholders, with the board sticking with the Netflix offer for Warner Bros. Discovery's Streaming and Studios division.[138][139]
On February 15, 2026, Bloomberg reported that Warner Bros. Discovery was considering reopening sale talks with Paramount Skydance.[140] On February 20, 2026, the company announced its bid had passed the second request review process undertaken by the Department of Justice, with the company saying "there was no statutory proposal to close down the acquisition".[141]
On February 26, 2026, Warner Bros. Discovery announced that they found Paramount's offer of $31 per share was superior to the deal Netflix made.[142] Shortly after, Netflix announced they were not going to raise their bid and pulled out, with Paramount emerging as the winner of the bidding war.[143] On February 27, the studios revealed that the deal is worth $110 billion.[144] According to David Zaslav, the acquisition is expected to close within 6–12 months, pending regulatory and shareholder approval.[145] If the deal closes, it would be the largest all-cash transaction in corporate history, ahead of Microsoft's $67 billion acquisition of Activision Blizzard in 2023, and would mark the second horizontal integration of two legacy media conglomerates and film studios after the 2019 Disney-Fox merger.[146][147][148]
On April 8, 2026, Jeff Shell departed Paramount Skydance as president.[149][150] The departure came a month after Robert James "R.J." Cipriani filed a $150 million lawsuit against Shell and his wife for breach of contract and fraud complaint, in which it also lists Paramount's CEO David Ellison, his father Larry, and several other advisors. Cipriant accused Shell of "gossiping about deals surrounding UFC, WBD, and Donald Trump";[149][150] Shell has since denied the allegations, calling it an "utterly false tale created in a shakedown attempt".[151] Paramount Skydance later came out saying that Shell exited the company with a severance package of $5 million; the contract set an annual base salary of $3.5 million, as well as a $1.5 million bonus.[152]
On April 23, 2026, shareholders of Warner Bros. Discovery approved the sale to Paramount Skydance.[153]
On June 12, 2026, the Paramount-WBD deal was approved by the U.S. Department of Justice's Antitrust Division.[154][155]
A coalition of 12 U.S. states: Arizona, California, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington all announced that they filed a lawsuit, and they were all seeking to block the proposed Paramount Skydance and Warner Bros. Discovery acquisition.[156]
On September 21, 2026, Paramount and the state attorneys general have settled the blockbuster antitrust lawsuit over the $110.9 billion acquisition of Warner Bros. Discovery, clearing the way to close the Paramount-WBD deal.[157] The deal included $52 billion financing that included varying degrees of debt and loans. Initial demand was more than 3x for the $30 billion investment grade tranche.[158]
On September 30, 2026, it was reported that Paramount intends to complete the Warner Bros. acquisition on October 6, 2026. It is also reported that the new name and logo for the newly-merged entity will be announced before this date.[159]
On October 2, 2026, it was announced that co-chairs and CEOs of Warner Bros. Pictures Pamela Abdy and Michael De Luca would be exiting after the close of the Paramount and Warner Bros. merger.[160] It was also announced that, post-acquisition of Warner Bros. Discovery, Paramount Skydance would be restructured and rebranded to Skydance.[161]
Company units
[edit]This section needs more citations. (July 2026) |
Paramount Skydance comprises 3 major business segments:
- Paramount Skydance Studios consists of the company's film and television production studios.
- Paramount Motion Picture Group focuses on theatrical film production and distribution, including film releases under Paramount Pictures, the company's namesake division and flagship label as well as the Paramount Animation, Paramount Players, Paramount Primal and Nickelodeon Movies labels. Other assets include Skydance Animation (and its animation studio division, Skydance Animation Madrid), Republic Pictures and a 49% stake in Miramax.[162] Paramount Pictures also consists of Paramount Studio Group (physical studio and post-production), production facilities and lot, and archives for restoration/preservation for Paramount Home Entertainment and Music.
- Paramount Television Group which consists of Paramount Television Studios and CBS Studios (including BET Studios and Nickelodeon Animation Studio (including Avatar Studios)), both focusing on television production.
- Paramount Experiences focuses on the retailing and licensing of merchandising for Paramount Consumer Products, and also consists of some theme parks, and gaming at Paramount Games Studio.[163]
- Paramount Sports Entertainment focuses on scripted and unscripted sports programming, as well as interactive sports games and experiences. The division also oversees Skydance Sports, a joint venture with the NFL.
- Paramount Skydance Direct-to-Consumer focuses on the global over-the-top streaming services, and encompasses Paramount+, Pluto TV, SkyShowtime (50% with Comcast through Sky Group), CBS News 24/7, CBS Sports HQ, and an undisclosed stake in FuboTV, which it acquired in 2020.[164]
- Paramount Skydance TV Media encompasses the company's domestic and international linear television channels. The division also oversees See It Now Studios and a 50% stake in South Park Digital Studios.
- CBS Entertainment Group oversees CBS, CBS News and Stations, CBS Sports and CBS Media Ventures (including Big Ticket Television).
- BET Media Group which owns channels with the BET name.
- Paramount Media Networks encompasses the pay television channels owned by Paramount in the United States such as MTV, Nickelodeon (including Nick Jr.), Comedy Central, TV Land, Paramount Network, Logo, CMT, Pop TV, Showtime, The Movie Channel, Flix, VH1 and the Smithsonian Channel.
- Paramount International Networks encompasses certain international versions of their cable channels split into three regional hubs: United Kingdom and Australia, Europe, Middle East, Africa and Asia (EMEAA), and the Americas, as well as region-specific free-to-air networks (including Channel 5 in the United Kingdom and Network 10 in Australia). It also co-owns channels that were previously under the CBS name across Europe with AMC Networks International.
- Paramount Global Content Distribution serves as the international television distribution arm for Paramount's television networks and streaming services.
The former subsidiaries of National Amusements such as Showcase Cinemas have been sold as of summer 2026.[165]
Leadership
[edit]Board of directors
[edit]Source:[166]
- David Ellison (chairman)
- Barbara Byrne
- Andy Campion
- Gerry Cardinale
- Safra Catz
- Justin G. Hamill
- Andy Gordon
- Sherry Lansing
- Paul Marinelli
- John L. Thornton
Executives
[edit]- David Ellison, chairman and CEO
- Jay Askinasi, chief revenue officer
- George Cheeks, chairman of TV media
- Dennis K. Cinelli, chief financial officer
- Makan Delrahim, chief legal officer
- Dane Glasgow, chief product officer
- Dana Goldberg, co-chair of Paramount Pictures and chair of Paramount Television
- Andy Gordon, chief strategy officer and chief operating officer
- Josh Greenstein, co-chair of Paramount Pictures and vice chair of Platforms
- Stephanie Kyoko McKinnon, general counsel
- Jim Sterner, chief people officer
- Melissa Zukerman, chief communications officer
References
[edit]- 1 2 "Paramount Skydance Corporation QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2026". Archived from the original on August 24, 2026. Retrieved August 24, 2026.
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When Skydance acquired Paramount in August 2025, the company wanted to take advantage of Paramount's familiar consumer brand while also emphasizing Skydance as the corporate parent. That meant the official name was "Paramount, a Skydance Corporation," which was later streamlined to "Paramount Skydance Corporation."
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In November 1985, Viacom acquired MTV for $326 million in cash and warrants. One-third of MTV was publicly owned; the rest was owned by Warner Communications and the American Express Company. At the same time, Viacom bought 50 percent of Showtime, the pay television service, that it did not already own for $184 million.
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Viacom completed acquisition of Paramount Communications in July 1994, creating one of the world's largest entertainment companies.
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- ↑ https://deadline.com/2026/06/paramount-sells-us-movie-theaters-to-kinepolis-1236954072/
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