 | |
 Logos of Skydance Media & Paramount Global before the merger. | |
 Concept/proposed logo for the combined company shown at a Paramount investor event.[1] | |
| Initiator | Skydance Media |
|---|---|
| Target | Paramount Global |
| Type | Merger |
| Cost | $8 billion |
| Initiated | July 7, 2024 |
 | |
| 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 "New Paramount". The agreement values the newly formed entity at approximately $28 billion.[2][3] The transaction is expected to close in spring 2025.[4]
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.[5] 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 purchase National Amusements and combine it with Paramount Global to establish what is now known as "New Paramount".[6] 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.[7]
- ^ Vlessing, Etan (July 8, 2024). "Movie Theater Owners to "Look Closely" at New Paramount-Skydance Deal Terms". The Hollywood Reporter. Retrieved July 9, 2024.
- ^ Littleton, Cynthia (July 7, 2024). "David Ellison Set as Chairman-CEO, Jeff Shell as President of Paramount; Shari Redstone to Sell Family Empire to Skydance Media in $8 Billion Deal". Variety. Retrieved July 9, 2024.
- ^ Weatherbed, Jess (July 8, 2024). "Paramount agrees to sweetened Skydance merger deal". The Verge. Retrieved July 9, 2024.
- ^ "Paramount and Skydance merge, signaling end of a family reign in Hollywood and the rise of new power". AP News. July 8, 2024. Retrieved July 9, 2024.
- ^ Weprin, Alex (January 31, 2024). "Byron Allen Makes $14B Offer to Buy Paramount Global". The Hollywood Reporter. Retrieved July 9, 2024.
- ^ Media, Skydance (July 8, 2024). "Skydance Media and Paramount Global Sign Definitive Agreement to Advance Paramount as a World-Class Media and Technology Enterprise". GlobeNewswire News Room (Press release). Retrieved July 8, 2024.
- ^ Mullin, Benjamin (July 7, 2024). "Meet David Ellison, Paramount's Future Boss and Hollywood's Newest Mogul". The New York Times. ISSN 0362-4331. Retrieved July 9, 2024.