Skydance's $8B Paramount Takeover to Reshape Media Landscape
David Ellison and Jeff Shell aim to modernize Paramount with tech investments and significant cost cuts.
- The merger is expected to close in Q3 2025, pending regulatory approval and a 45-day go-shop period.
- David Ellison will become CEO, focusing on creative leadership, with Jeff Shell as president handling business operations.
- A $2 billion cost-cutting plan targets Paramount's linear media operations and aims to boost profitability.
- Plans include enhancing Paramount+ with better algorithms and exploring partnerships to improve streaming profitability.
- CBS remains a cornerstone asset, but the future of other cable networks like BET and MTV is uncertain.
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