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7h ago

Skydance-Paramount Merger Closes as PSKY Debuts on Nasdaq

David Ellison plans a three-division restructure to drive efficiency through a unified technology platform.

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The Paramount Studios in Los Angeles, California, US, on Tuesday, Aug. 27, 2024.

Overview

  • Paramount, a Skydance Corporation, began trading under the PSKY ticker on Nasdaq after completing the $8 billion merger on August 7, 2025.
  • David Ellison was appointed chairman and chief executive with former NBCUniversal head Jeff Shell as president and George Cheeks overseeing the TV media division.
  • The company will be split into studios, direct-to-consumer and TV media units to streamline decision-making and align creative and digital operations.
  • Ellison has pledged to realize $2 billion in cost synergies by transitioning Paramount+, Pluto TV and other services onto a single technology platform.
  • Final FCC approval followed a $16 million settlement with President Trump over a “60 Minutes” lawsuit and requires an ombudsman for CBS News and the elimination of legacy DEI programs.