Skydance to buy Paramount in shocking $8B takeover

Skydance has taken control of Paramount in an $8 billion deal, marking a significant shift in Hollywood's landscape. The acquisition includes Paramount's film and TV studios, Paramount+, CBS, and several cable channels. Skydance's CEO David Ellison will lead the newly formed "New Paramount," valued at $28 billion. This deal aims to enhance Paramount and CBS brands, increase profitability, and focus on digital platforms. Skydance is also expanding its video game division, with upcoming Marvel and Star Wars games. The agreement ends the Redstone family’s control of the company and is expected to finalize by next summer.

Under Skydance's control, Paramount is expected to see enhancements in its marquee brands, a focus on improving profitability, and increased investments in digital platforms. This includes bolstering the company's content creation and expanding its video game business with new Marvel and Star Wars titles.

Paramount, known for iconic franchises like Star Trek, Mission: Impossible, and Top Gun, has been a major player in Hollywood since its founding. Skydance's involvement is anticipated to bring fresh energy and strategic vision to these beloved properties. Notably, Skydance is already making strides in the video game industry with titles like Marvel 1943: Rise of Hydra and a new Star Wars game, guided by industry veteran Amy Hennig. This acquisition could potentially herald a new era of multimedia integration and innovative content delivery for Paramount.