Overview
- The transaction officially closed on August 7 after receiving FCC approval on July 24 that followed a $16 million settlement with President Trump.
- David Ellison assumes the roles of president and CEO for the newly formed Paramount, pledging to blend Hollywood creativity with Silicon Valley innovation.
- Paramount will be restructured into three divisions—studios, direct-to-consumer and television media—to streamline operations under Skydance’s vision.
- Ellison projects that transitioning to a single technology infrastructure will generate more than $2 billion in cost synergies.
- Plans call for merging Paramount+ and Pluto TV into a single service by 2026, and the company is exploring divestitures such as Telefe while analysts forecast AI-driven workforce realignments.