The $8-billion merger between Skydance Media and Paramount Global is nearing completion after receiving approval from the Federal Communications Commission. This deal will significantly impact various iconic media brands, including CBS, MTV Networks, and Paramount Pictures.
Skydance has promised investors that it will find $2 billion in cost savings, which could lead to further belt-tightening and layoffs. The new management team, led by Larry Ellison and his son David, plans to bring a tech-focused approach to Paramount. This may improve the user interface and recommendation process for Paramount+.
The future of traditional TV is uncertain as Skydance may consider spinning off CBS’s broadcast channels to focus on streaming services. Analysts also expect increased investment in film franchises to revive Paramount Pictures’ assets.
The departure of longtime CBS News executive producer Bill Owens has been followed by a new appointment, Tanya Simon, who will oversee the news division and provide stability. However, creative freedom for late-night hosts like Stephen Colbert may be tested under the new owners.
Paramount Pictures faces challenges in reviving its movie business, with recent films such as “Top Gun: Maverick” and “Sonic the Hedgehog 3” performing well but lacking substantial returns. The unit’s leader is expected to leave, and David Ellison plans to invest more in film production.
The NFL’s long-term deal with CBS may be renegotiated under the new ownership structure, potentially leading to changes for broadcast television revenue streams. With a two-year period before any decisions can be made, the NFL commissioner has signaled careful consideration will be given to the situation.
Source: https://www.latimes.com/entertainment-arts/business/story/2025-07-25/the-skydance-paramount-global-merger-is-approved-now-what