New Paramount is born, a union of Skydance Media and Paramount Global that will build its future around new platforms

The Ellison family and RedBird Capital Partners, owners of Skydance, will invest more than $8 billion to shape New Paramount, a new company that aspires to become a leading next-generation technology and media company.

Skydance Media and Paramount Global have reached a definitive agreement to form New Paramount through a two-phase transaction: the acquisition of National Amusements, which owns the majority stake in Paramount, and the merger of Skydance y Paramount Global. The operation will combine the financial resources of Skydance Investor Group , its extensive operational experience and its knowledge of cutting-edge technology with the IP of Paramount, its extensive film library and its ability to “create hits and linear and streaming platforms” through its platforms Paramount+ y Pluto.

New Paramount aspires to become the “first creative destination" for story creators, given that it will seek to promote the profitability, stability and independence of creators, and allow greater investment in growth areas. Beyond fiction content, the company seeks to have a transversal catalog of "multiple entertainment platforms", encompassing games, sports or news.

New Paramount's management team will be led by David Ellison as executive chairman and chief executive officer and Jeff Shell (presidente de RedBird Sports & Media y exCEO de NBCUniversal) como presidente. Ambos profesionales, con una gran experiencia operativa y conocimientos demostrados en el impulso del crecimiento de empresas creativas y de medios de comunicación, pondrán todo su conocimiento en “mejorar el rendimiento” de Paramount y aumentar su alcance y reconocimiento en el nuevo ecosistema audiovisual de medios.

Under the terms of the agreement, which has been approved by Paramount's Board of Directors, upon unanimous recommendation of the Special Committee, and by National Amusements, the majority owner of Paramount's Class A shares, Skydance will merge with Paramount in a transaction that will value the new Paramount at an enterprise value of approximately 28 billion dollars. The merger is expected to be completed in first half of 2025, at which time it is expected to have approval from the corresponding regulatory authorities.