Paramount and Skydance Merger
Paramount will merge with Skydance in a $28 billion deal, marking the end of the Redstone family's era in Hollywood. David Ellison of Skydance will lead the new company, New Paramount.
Key Points
- David Ellison to lead New Paramount
- Paramount+ launched in 2021 to capture streaming audience
- Paramount's restructuring plan includes major cost cuts
Pros
- Injects cash into struggling legacy studio
- Strengthens Paramount for the future
- Combines resources of two successful entertainment companies
Cons
- Historical family control by the Redstones ends
- Paramount's struggles in adapting to changing entertainment landscape