Paramount-Skydance merger closes; growth-focused plan unveiled

Paramount Pictures and Skydance have closed their long-anticipated merger, creating a new enterprise described by its leadership as a reinvigorated, growth-focused studio with a renewed emphasis on theatrical franchises, premium streaming content, and a streamlined executive structure. David Ellison, the Skydance founder who leads the combined company as chief executive, said the goal is to restore Paramount as the No. 1 studio for filmmakers and talent in the world. Dana Goldberg and Josh Greenstein, respectively co-chairs of Paramount Pictures and chief executives of the film division, pledged a fast ramp-up in production and a clear path for the studio’s next generation of tentpole titles and original programming.

The merger unites Paramount’s extensive legacy with Skydance’s financing power and its track record on high-profile properties. Ellison, 42, has steered Skydance through collaborations on marquee Paramount brands such as Mission: Impossible and Top Gun Maverick, the latter helping Paramount post robust recent grosses. The leadership trio also signaled continuity within CBS domains, indicating an intent to keep trusted news and other CBS assets stable even as the...