Matt Donnelly Senior Film Writer Now that Shari Redstone has signed on the dotted line to sell her father’s media empire to Skydance and RedBird Capital, what future awaits?
The vision for a combined Skydance – tech scion David Ellison’s production entity behind franchises like “Mission: Impossible” – and Paramount Global has been reported in dribs and drabs over months of a dramatic deal (which only weeks ago was formally off).
An official announcement late on Sunday sheds light on what Paramount’s new owners have in store. First, and perhaps most importantly, Skydance is dropping $1.5 billion on Paramount’s balance sheet – a cash infusion that hopes to embolden the studio to woo creatives with “stability,” as the formal announcement said, and make brands like Paramount Pictures and CBS more competitive for top talent and packages.
New Paramount, the working title for the merged companies, “will be a premier, creative-first destination for storytellers, dedicated to top-quality content and will be positioned to improve profitability, foster stability and independence for creators, and enable more investment in growth areas,” the announcement said.
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