Hollywood Studios Announce Merger Between Paramount And Skydance A merger agreement has been reached between two big Hollywood studios, Sky Dance Media and Paramount Global. According to Variety, Sky Dance has bought another studio, Paramount, for $8 billion.
After this agreement, Skydance’s David Ellison will be the president and chief executive officer, while Jeff Sale, the former CEO of Universal, will lead the administration.
Preparations for the merger between these two big studios of Liud were going on for a few weeks. According to the agreement, Skydance and its partners will invest more than $8 billion to revive the company.
After the deal, the total capital of these two studios reached 28 billion dollars. Sky Dance is worth $4.75 billion. However, it is said that the full implementation of the agreement will be done by the middle of 2025.
Allison founded Sky Dance in 2010 as a film production and financing company. Now it is also involved in the production of television programs and gaming.
“In 1987, my father Samar Redstone acquired the Viacom company and expanded the company,” Sari Redstone announced the merger on Sunday evening and said, “His philosophy was that content is king.” He was always committed to providing the best content to all audiences around the world.