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Skydance-Paramount Merger Brings Executive Shakeup
LOS ANGELES COUNTY, CALIFORNIA, AUG 4 – David Ellison appointed a leadership team to steer Paramount's restructuring after Skydance's $8.4 billion acquisition, ending 38 years of Redstone family control, with three divisions planned.
- Skydance Media is acquiring Paramount Global with the deal set to close on August 7, 2024, forming a new executive leadership team.
- The takeover follows Shari Redstone's family seeking a buyer amid years of cost-cutting, viewership losses, and mounting debt weakening their Hollywood empire.
- David Ellison will lead as CEO, Jeff Shell has been appointed president in charge of television operations, and Cindy Holland will oversee the streaming platforms Paramount+ and Pluto.
- The Redstone family's investment company, National Amusements, will gain $2.4 billion for its majority stake, while $1.5 billion will be allocated to reduce Paramount's debt, and job cuts are anticipated at the company.
- Paramount TV Studios, which had closed in August 2024, is being relaunched under Dana Goldberg's leadership, while its previously developed projects were transferred to CBS Studios, which continues to be the largest television production entity.
15 Articles
15 Articles
Skydance’s David Ellison shakes up Paramount leadership
David Ellison’s Skydance Media has unveiled its leadership structure for Paramount, beginning a shake-up as the Shari Redstone era winds to a close. Ellison will become chairman and chief executive of the new Paramount Skydance Corp. with a goal of reviving the legendary entertainment company. The structure will largely be decentralized with Ellison entrusting his division heads with considerable power. Skydance’s $8.4-billion takeover is schedu…
Revived Paramount TV Studios To Be Led By Matt Thunell; Will Absorb Taylor Sheridan Home MTVE, Showtime & Skydance TV; Keith Cox Staying On
EXCLUSIVE: The Paramount Television Studios label is making a comeback — and returning to its roots. Skydance Media on Monday morning announced the top executive team for the combined Paramount company after its acquisition of Paramount Global closes August 7. It includes Skydance’s Dana Goldberg, who will serve as Co-Chair of Paramount Pictures and Chair of Paramount Television and will lead Paramount Pictures and Nickelodeon Films (with Josh…
Skydance's David Ellison shakes up Paramount leadership
Longtime Ellison lieutenant Dana Goldberg will run Paramount Pictures with former Sony executive, Josh Greenstein. Only one senior Paramount executive, George Cheeks, will remain after this week's Skydance takeover.
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