Paramount Skydance Corporation

What does Paramount Skydance Corporation own?
Paramount Skydance Corporation owns and operates Paramount Pictures, CBS, Paramount+, Pluto TV, MTV, Nickelodeon, Comedy Central, BET, Showtime, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. The company also holds extensive content libraries and production facilities. If the Warner Bros. Discovery acquisition closes, the portfolio will expand to include HBO, CNN, TNT, Warner Bros. Pictures, and HBO Max.

Is Paramount Skydance Corporation publicly traded?
Yes, Paramount Skydance Corporation is publicly traded on NASDAQ under the ticker symbol PSKY. The company became the successor issuer to Paramount Global on August 7, 2025. As of February 20, 2026, there were 31.5 million Class A shares and 1.08 billion Class B shares outstanding.

Who is the CEO of Paramount Skydance Corporation?
David Ellison is the Chairman and Chief Executive Officer of Paramount Skydance Corporation. He founded Skydance Media in 2010 and led the merger with Paramount Global, which closed on August 7, 2025. Ellison is the son of Oracle co-founder Larry Ellison. The Ellison family and RedBird Capital Partners are the primary strategic investors backing the company.

What happened to the Redstone family's control of Paramount?
The Redstone family, which controlled Paramount Global for decades through National Amusements' holdings of super-voting Class B shares, sold its stake as part of the Skydance merger transaction that closed on August 7, 2025. National Amusements no longer holds a controlling position in the company. Shari Redstone received cash for her National Amusements stake.

How many subscribers does Paramount+ have?
Paramount+ ended 2025 with 79 million paid subscribers. In Q4 2025, Paramount+ revenue grew 17% year over year to $1.837 billion, with ARPU increasing 10%. The company plans to exit approximately 4-5 million hard bundle subscribers with unattractive economics in 2026, which will result in only modestly higher total paid subscribers compared to 2025, but with stronger underlying growth and ARPU.

What is the Warner Bros. Discovery acquisition?
On February 27, 2026, Paramount announced a definitive agreement to acquire Warner Bros. Discovery for $31 per share in cash, valuing WBD at $81 billion in equity value and $110 billion in enterprise value. The transaction is backed by $47 billion in equity from the Ellison family and RedBird Capital Partners and $54 billion in debt commitments. The deal is expected to close in Q3 2026, subject to regulatory clearances and WBD shareholder approval. The UK CMA cleared the acquisition on August 6, 2026.

What is Paramount Skydance Corporation's revenue?
For full year 2025, total revenue was approximately $28.9 billion, combining the predecessor period (January 1 to August 6) revenue of $16.6 billion and the successor period (August 7 to December 31) revenue of $12.3 billion. For 2026, the company guides to total revenue of $30 billion, representing approximately 4% year-over-year growth, and adjusted EBITDA of $3.8 billion.

Where is Paramount Skydance Corporation headquartered?
Paramount Skydance Corporation maintains its primary corporate offices in Los Angeles, California, and New York, New York. The company has production facilities and operations in multiple locations including Hollywood, London, and other global entertainment hubs.

The company's origins trace back to the media empire built by Sumner Redstone, who controlled both Viacom and CBS through National Amusements. Viacom and CBS were originally part of the same company before being split into separate entities in 2006. Viacom focused on cable networks (MTV, Nickelodeon, Comedy Central) and Paramount Pictures, while CBS operated the broadcast network, television production, and publishing.

In December 2019, Viacom and CBS Corporation reunited in a merger valued at approximately $12 billion, creating ViacomCBS with Bob Bakish as CEO. The merger aimed to create the scale necessary to compete in streaming against Netflix, Disney, and Amazon. The combined company brought together CBS's broadcast reach and news operations with Viacom's cable networks and Paramount Pictures' film library.

In February 2022, the company rebranded from ViacomCBS to Paramount Global, emphasizing the Paramount brand's global recognition and streaming ambitions. The rebranding coincided with increased investment in Paramount+ and the launch of a unified streaming strategy.

By 2023, Paramount Global faced significant pressure. Linear television revenue was declining, streaming losses were mounting, and the company's film slate was underperforming. Shari Redstone, who controlled the company through National Amusements, began exploring strategic options including a potential sale.

In 2024, Skydance Media, led by David Ellison (son of Oracle founder Larry Ellison), emerged as a bidder for Paramount Global. After months of negotiations that included competing offers and deal restructuring, Skydance and Paramount Global announced a definitive merger agreement in July 2024. The transaction closed on August 7, 2025, with Paramount Skydance Corporation becoming the publicly traded holding company. The Ellison family and RedBird Capital Partners provided equity backing, and the Redstone family sold its National Amusements stake, ending decades of Redstone control over the media properties.

David Ellison became Chairman and CEO, bringing Skydance's film, television, animation, and interactive divisions into the combined company. The new leadership team quickly moved to restructure operations, consolidate content creation, and focus on streaming profitability. In Q1 2026, the company transitioned to a new reporting structure with three segments: Studios, Direct-to-Consumer, and TV Media.

On February 27, 2026, Paramount announced a definitive agreement to acquire Warner Bros. Discovery for $31 per share in cash, valuing WBD at $81 billion in equity value and $110 billion in enterprise value. The transaction was unanimously approved by both boards and is expected to close in Q3 2026, subject to regulatory clearances and WBD shareholder approval. The deal is backed by $47 billion in equity from the Ellison family and RedBird Capital Partners and $54 billion in debt commitments from Bank of America, Citigroup, and Apollo. Paramount expects over $6 billion in synergies from the combination. On August 6, 2026, the UK Competition and Markets Authority formally cleared the acquisition, a key regulatory milestone.

Paramount has implemented sustainability and ESG initiatives focused on environmental responsibility, social impact, and ethical business practices. The company's Peak Sustainability strategy, particularly advanced in UK operations, includes a Sustainability Board that holds senior management accountable for environmental goals, employee-led sustainability working groups, and training programs.

Environmental initiatives focus on carbon reduction targets, sustainable production practices, and renewable energy adoption. Paramount UK has implemented electric vehicle loan schemes for London-based employees and considers environmental impact when selecting suppliers and partners. The company has developed sustainable production guidelines to reduce the environmental impact of film and television production and reports on Scope 3 emissions.

The company publishes annual ESG reports covering On-Screen Content & Social Impact, Workforce & Culture, and Sustainable Production & Operations. Social impact initiatives include diversity and inclusion programs, employee resource groups, and content addressing social issues.

The Skydance merger and proposed WBD acquisition raise questions about the company's sustainability commitments going forward, as corporate combinations typically lead to revised ESG strategies. The new leadership under David Ellison has not yet published an updated sustainability framework.

The Skydance merger process itself was controversial. In 2024, when the merger was being negotiated, Paramount Global faced a competing bid from a group led by Apollo Global Management. Shari Redstone's preference for the Skydance deal over the Apollo bid, which offered a higher premium for Class A shareholders, drew criticism from some investors. The dual-class share structure, which gave Redstone controlling voting power through National Amusements despite owning a minority economic stake, was a point of contention throughout the process.

The proposed Warner Bros. Discovery acquisition has attracted significant regulatory scrutiny. The $110 billion deal would create one of the largest media companies in the world, combining two major Hollywood studios, two major streaming platforms, and extensive television network portfolios. The UK Competition and Markets Authority cleared the acquisition on August 6, 2026, but U.S. regulatory review is ongoing. The transaction is subject to approval by WBD shareholders, with a vote expected in spring 2026.

Paramount has faced content-related controversies, including criticism from various political perspectives regarding news coverage on CBS and programming decisions on streaming platforms. The company's NFL broadcasting rights and sports programming have drawn regulatory attention regarding market dominance and competitive access to live sports content.

The company has also faced labor disputes with unions representing writers, actors, and production staff. The 2023 Hollywood strikes affected Paramount's production schedule and content pipeline, and the company has faced criticism regarding workplace culture and diversity representation across its business units.