Paramount, a Skydance Corporation, Aims for Tech-Forward Efficiency in $8B Merger

Skydance Media has successfully closed its $8B merger with Paramount Global, creating Paramount, a Skydance Corporation. The new company aims to improve efficiency and embed technology more into its operations. CEO of Paramount, a Skydance Corporation, emphasized the shift towards a tech-forward and efficient approach. The merger creates a new publicly traded company on NASDAQ under the ticker symbol PSKY.

Skydance Media and Paramount Global have successfully completed their merger, valued at over $8 billion, creating a new entity called Paramount, a Skydance Corporation. The new company, which will trade under the ticker symbol PSKY on the Nasdaq Stock Market, aims to leverage technology and efficiency to drive growth in the entertainment industry.

David Ellison, the son of Oracle co-founder Larry Ellison and CEO of Skydance Media, will serve as the chair and CEO of the newly formed company. In an open letter to shareholders, employees, and creative partners, Ellison outlined his vision for the company, emphasizing the importance of investing in growth areas such as animation, sports, and games. He also mentioned the company's plans to scale its direct-to-consumer business globally and drive efficiencies through technology.

The merger has significant implications for the entertainment industry, as it brings together the extensive creative library and global distribution network of Paramount with the production expertise and technological capabilities of Skydance Media. The new company will be led by Ellison, with former NBCUniversal CEO Jeff Shell as president, and George Cheeks, former CBS CEO, as chair of the TV media segment.

The merger also marks a shift in control at Paramount, with the Ellison family and RedBird Capital purchasing shares of National Amusements Inc., which previously owned 77% of the voting power in Paramount Global. Shareholders of NAI received $1.75 billion in cash upon the deal's close, and Shari Redstone, who had controlled the company for 38 years, is exiting the merged company's board.

The merger is expected to create synergies and opportunities for the new company, with a focus on forward-thinking approaches to content creation and storytelling. The company will also rely on best-in-class leadership and tech-enabled innovation to revitalize and position one of entertainment's most storied enterprises for long-term success.

References:
[1] https://www.sportsbusinessjournal.com/Articles/2025/08/07/skydance-media-paramount-global-complete-merger/
[2] https://finance.yahoo.com/news/paramount-para-falls-looming-8-170628847.html
[3] https://www.paramount.com/press/skydance-media-and-paramount-global-complete-merger-creating-next-generation-media-company