Merger of Skydance Media and Paramount Global in the context of "Skydance Media"

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⭐ Core Definition: Merger of Skydance Media and Paramount Global

On July 7, 2024, American media companies Skydance Media and Paramount Global announced a definitive agreement to merge in a deal valued at $8 billion, forming a new entity known as "Paramount Skydance Corporation". The agreement valued the newly formed entity at approximately $28 billion.

In 2023, after grappling 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. Skydance reached 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". After the merger closed, Skydance Media CEO David Ellison became the chairman and CEO of the combined company and Jeff Shell became the president.

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👉 Merger of Skydance Media and Paramount Global in the context of Skydance Media

Skydance Media, LLC (formerly known as Skydance Productions from 2006 to 2016) was an American film production and finance company based in Santa Monica, California. Founded by David Ellison on April 4, 2006, the company specialized in films, animation, television, video games, and sports.

In 2009, the company entered a five-year partnership to co-produce and co-finance films with Paramount Pictures. This agreement was renewed twice, extending to 2021. On July 7, 2024, Skydance announced its intent to merge with Paramount Global in an $8 billion transaction, under an agreement in which Skydance would acquire Paramount's controlling shareholder National Amusements, and then perform an all-stock merger with the company. On July 24, 2025, the merger was approved by the FCC, and the merger was closed on August 7, 2025, forming Paramount Skydance (which the Skydance Media library transferred to Paramount Pictures).

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Merger of Skydance Media and Paramount Global in the context of Paramount Skydance

Paramount Skydance Corporation (doing business as Paramount) is an American multinational mass media and entertainment conglomerate. It is headquartered at the Paramount Pictures lot in the Hollywood neighborhood of Los Angeles, California, with offices at the previous Skydance Media headquarters in Santa Monica, California and the previous Paramount Global headquarters at One Astor Plaza in New York City.

The company was formed on August 7, 2025 by David Ellison, through the merger of Paramount Global, National Amusements, and Skydance Media. The company trades under the ticker symbol "PSKY" on the Nasdaq.

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Merger of Skydance Media and Paramount Global in the context of National Amusements

National Amusements, Inc. was an American privately owned movie theater operator and mass media holding company incorporated in Maryland and based in Norwood, Massachusetts, controlled by the Redstone family. The company owned 69 theaters and 667 screens throughout the United States, the United Kingdom, and Latin America under several brands, such as Showcase Cinemas, Multiplex Cinemas, and Cinema de Lux. It was the controlling shareholder of Paramount Global.

National Amusements was founded by Michael Redstone, and later passed to his son Sumner Redstone. After his 2020 death, the company was passed to a trust led by his daughter Shari Redstone. After nearly 90 years of control by the Redstone family, in July 2024, David Ellison's Skydance Media announced its intent to acquire National Amusements and perform merger between Skydance Media and Paramount Global to form Paramount Skydance Corporation. The Federal Communications Commission (FCC) approved the merger of Skydance Media and Paramount Global on July 24, 2025, with the merger closing on August 7, 2025, with National Amusements being absorbed into Paramount Skydance.

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LINKED FROM (PARENTS)
← Paramount Skydance ← Skydance Media ← National Amusements
LINKS TO (CHILDREN)
Skydance Media → Paramount Global → Paramount Skydance → National Amusements → Chief executive officer → David Ellison → Jeff Shell →