Proposed merger of Skydance Media and Paramount Global
Logo before merger | |
Logo after merger | |
| Initiator | Skydance Media |
|---|---|
| Target | Paramount Global (and National Amusements) |
| Type | Merger |
| Cost | US$8 billion |
| Initiated | July 7, 2024 |
| Completed | July 7, 2025 (Imminent) |
| Resulting entity | Paramount Skydance Corporation |
| 1886 | Westinghouse Electric Corporation is founded as Westinghouse Electric & Manufacturing Company |
|---|---|
| 1912 | Famous Players Film Company is founded |
| 1913 | Lasky Feature Play Company is founded |
| 1914 | Paramount Pictures is founded |
| 1916 | Famous Players and Lasky merge as Famous Players–Lasky and acquire Paramount |
| 1927 | Famous Players–Lasky renamed to Paramount Famous Lasky Corporation; CBS is founded with investment from Columbia Records |
| 1929 | Paramount acquires 49% of CBS |
| 1930 | Paramount Famous Lasky Corporation renamed to Paramount Publix Corporation |
| 1932 | Paramount sells back its shares of CBS |
| 1934 | Gulf+Western is founded as the Michigan Bumper Corporation |
| 1935 | Paramount Publix Corporation renamed to Paramount Pictures |
| 1936 | National Amusements is founded as Northeast Theater Corporation |
| 1938 | CBS acquires Columbia Records |
| 1950 | Desilu is founded and CBS distributes its television programs |
| 1952 | CBS creates the CBS Television Film Sales division |
| 1958 | CBS Television Film Sales renamed to CBS Films |
| 1966 | Gulf+Western acquires Paramount |
| 1967 | Gulf+Western acquires Desilu and renames it Paramount Television (now CBS Studios) |
| 1968 | CBS Films renamed to CBS Enterprises |
| 1970 | CBS Enterprises renamed to Viacom |
| 1971 | Viacom is spun off from CBS |
| 1987 | National Amusements acquires Viacom |
| 1988 | CBS sells Columbia Records to Sony |
| 1989 | Gulf+Western renamed to Paramount Communications |
| 1994 | Viacom acquires Paramount Communications |
| 1995 | Westinghouse acquires CBS |
| 1997 | Westinghouse renamed to CBS Corporation |
| 2000 | Viacom acquires UPN and CBS Corporation |
| 2005 | Viacom splits into second CBS Corporation and Viacom |
| 2006 | CBS Corporation shuts down UPN and replaces it with The CW |
| 2017 | CBS Corporation sells CBS Radio to Entercom (now Audacy) |
| 2019 | CBS Corporation and Viacom re-merge as ViacomCBS |
| 2022 | ViacomCBS renamed to Paramount Global |
| 2024 | Skydance Media and Paramount Global agree to merge |
On July 7, 2024, American media companies Skydance Media and Paramount Global announced a definitive agreement to merge in a deal valued at $8 billion, forming a new entity known as "Paramount Skydance Corporation". The agreement values the newly formed entity at approximately $28 billion. The transaction is currently expected to close in 2025.
In 2023, after grappling with debt and striving to remain competitive in the entertainment industry, Paramount's parent company, National Amusements, explored potential merger and acquisition opportunities for Paramount Global. Numerous prominent companies, such as Sony Pictures, Warner Bros. Discovery, Apollo Global Management, Edgar Bronfman Jr., Allen Media Group, and Skydance Media, had indicated their interest in exploring potential business partnerships or purchasing the company.
After first coming to a merger deal with Skydance, Paramount and Skydance canceled the proposed merger on June 11 due to unsatisfactory conversations. Following a break in the talks, Skydance was able to reach a preliminary agreement on July 2, 2024, to perform a 3-way merger between it, National Amusements, and Paramount to establish what was then known as "New Paramount". After the merger closes, Skydance Media CEO David Ellison will become the chairman and CEO of the combined company and Jeff Shell will be the president.
The deal is expected to close in the first half of 2025, pending required regulatory approvals, according to reports. If the deal wasn't closed by April 7, 2025, subject to two automatic 90 day extensions, or if the deal is blocked by a government regulator, either party can end the deal, with Paramount having to pay a $400 million termination fee. Paramount said in February 2025 and May 2025 it still expected the transaction to close within the first half of the year. With the deal not yet approved, the automatic extension to July 7, 2025 went into effect on April 8, 2025.
The SEC and the European Commission (EC) approved the transaction in February 2025. The transaction remains under review by the Federal Communications Commission (FCC) as of May 2025.