‘Paramount’ & ‘Skydance’ Agree To Studio Merger Pending Details

News June 3, 2024 7:27 am Caleb Williams

Today, a report announced that Paramount Pictures and Skydance had agreed to an upcoming merger. Skydance beat out fellow studio Sony Pictures alongside Apollo Global Management. The announcement will be made official once Paramount’s parent company, Shari Redstone, owns National Amusements, which owns 77% of class A Paramount shares. This comes from the news that former CEO Bob Bakish was outed and forced to retire in April (via IndieWire). Due to the company’s downward profit spiral over the last several years. He was replaced by a group of executives CBS president and CEO George Cheeks; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, the head of Paramount Pictures and Nickelodeon. Also due to the merger, Skydance and RedBird will also contribute $1.5 billion in cash to Paramount to help reduce their overall debt.

06/11/2024 – Paramount’s parent company, National Amusements, has blocked all merger talks with Skydance.

Paramount Skydance will announce the merger later this week

Source: CNBC

Tags

Paramount Pictures, Skydance

Caleb Williams

| Editor-in-Chief of Knight Edge Media | Film & TV Reporter | Social Media Manager |

Caleb began his film and television news reporting career during high school in 2008 by creating Superhero Movie News and part-time writing on ComicBookMovie.com. Eventually, he started Omega Underground with Christopher Marc in 2015. Breaking some major news stories throughout the industry and gaining recognition as a respectable film reporter on social media. Caleb eventually sold Omega Underground and all its assets to Geeks World Wide, LLC in 2018 and became a staff writer for them for about a year. Finally, Caleb left GWW to begin Knight Edge Media from scratch in November 2019 while finishing his Bachelor’s degree. Knight Edge Media has become a premier website destination for nerdy film and television casting, trailers, reviews, and production updates from the project’s announcement to its final worldwide release. Knight Edge Media has also been known for breaking several exclusive news stories throughout the website’s history.

Throughout his film reporting career, Caleb Williams has been given full press credentials for many nerdy movie and TV conventions, including San Diego Comic-Con, Las Vegas CinemaCon, and Phoenix Fan Fusion. He also has early press access to many upcoming streaming projects for review on Knight Edge Media.