Paramount’s Historic Transformation: Tech-Forward Media Giant Emerges from $8B Skydance Merger

A New Era in Entertainment

Skydance Media and Paramount Global have completed their merger, creating a premier standalone global media and entertainment company, now known as Paramount, a Skydance Corporation. The $8 billion merger, led by David Ellison’s Skydance Media, comes with ambitious plans to realize $2 billion in cost synergies post-merger.

Strategic Restructuring and Leadership

Under the new structure, Paramount will be reorganized into three divisions: studios, direct-to-consumer and TV media. Jeff Shell, former CEO of NBCUniversal, has been appointed as president, while George Cheeks will remain with the company as chair of the TV media segment. Notable departures include Chris McCarthy of Showtime & MTV Entertainment Studios and Robbins of Paramount Pictures and Nickelodeon.

Financial Performance and Streaming Success

In its most recent financial report, Paramount demonstrated strong performance with Q2 2025 revenue rising to $6.85 billion, driven by streaming growth. The company’s streaming revenue grew 15 percent to $2.16 billion, with Paramount+ revenue surging 23%, though subscribers experienced a slight decline to 77.7 million.

Technology-Driven Future

The new company is emphasizing technology integration to empower creative partners. Technology will serve as a powerful multiplier rather than a replacement for human creativity, with plans including virtual production stages, AI-assisted localization, and a proprietary ad-tech stack that maximizes yield across streaming and linear platforms.

Content and Growth Strategy

Moving forward, Paramount will focus on evolving its streaming services into powerful, profitable global platforms. The company is committed to increasing investment in premium, exclusive content, recognizing exceptional storytelling as the primary driver of subscriber growth and loyalty. Sports content will play a crucial role as an engine for deep audience engagement.

Looking Ahead

The company’s vision is to transform into a tech-forward enterprise that combines Hollywood’s creative heart with Silicon Valley’s innovative spirit. By leveraging cutting-edge technologies for storytelling, Paramount aims to unlock its enormous potential. With its resources, talent, and strategic clarity, the company is positioning itself to become the world’s next generation media and entertainment leader, focusing investments on areas with the greatest potential for growth and impact.