Paramount, Skydance Complete $8.4B Merger, Reshape Media Landscape

Paramount Global and Skydance Media have finalized their $8.4 billion merger, set to close on August 7, 2025, with Skydance's David Ellison named as CEO of the combined entity and Jeff Shell as president. The new company will be structured into three main divisions: studios, direct-to-consumer, and TV media. This merger is expected to reshape the media landscape and has intensified speculation about a potential joint streaming service combining Paramount+ and Comcast’s Peacock to better compete with industry giants like Netflix and Disney+. Both Paramount+ and Peacock have faced financial challenges and subscriber growth issues, making a combined platform appealing, with consumer research suggesting significant revenue potential. Ellison's leadership and backing by RedBird Capital Partners bring new financial and technological resources to help revitalize Paramount’s offerings and address its existing debt and viewership declines. The merger also brings uncertainty about workforce reductions but aims to leverage complementary expertise to transform Paramount's future.