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3w ago

Skydance Closes $8 Billion Paramount Acquisition, Taps David Ellison as CEO

The new structure will span three divisions supported by a unified technology platform aimed at unlocking over $2 billion in cost savings.

FILE - The main gate to Paramount Studios is seen on Melrose Avenue, July 8, 2015, in Los Angeles. (AP Photo/Nick Ut, File)
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A un año del anuncio se concretó la fusión.
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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.