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Skydance Media and Paramount Global have completed their merger to form Paramount, a Skydance Corporation (NASDAQ: PSKY), creating a next-generation media and entertainment powerhouse. The merger combines Paramount's extensive creative library and global distribution network with Skydance's production expertise and technological capabilities.
Under the leadership of David Ellison as Chairman and CEO, the company aims to modernize content creation and delivery while maintaining creative excellence. The transaction is backed by the Ellison Family and RedBird Capital, with RedBird's Founder Gerry Cardinale expressing confidence in the potential for substantial growth through the integration of technological sophistication and content production.
Paramount Global (NASDAQ: PARA, PARAA) and Skydance Media have announced that their merger transaction is expected to close on August 7, 2025. The companies have set key election deadlines for Paramount stockholders to choose their preferred form of merger consideration: July 31, 2025 for shares held of record, and July 28, 2025 for shares held via Morgan Stanley Stock Plan Account and the Paramount Global 401(k) Plan.
Following the merger closing, the combined company will trade on Nasdaq under the new ticker symbol "PSKY", replacing Paramount's current symbols PARA and PARAA. Stockholders who do not make an election by the deadline will automatically receive stock consideration for their shares.
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