The Drum reposted this
According to The Drum, Paramount Global’s board of directors on Sunday approved a merger with Skydance Media in a deal valued at almost $8bn. The merger, a mix of stock and cash, marks a significant shift in the media landscape. This merger could revitalize #Paramount, introducing #Skydance Media’s production and multimedia capabilities to bolster the organization’s offerings as the entertainment and media landscape grows more competitive. “Skydance’s David Ellison will inject new life into Paramount by bringing it from the old-school entertainment world into the contemporary universe of Silicon Valley technology,” says Stanlei Bellan, chief strategy officer at omnichannel advertising platform Juice Media. Skydance’s in-house capabilities and relationships across media and technology – which include a deal with Chinese tech giant Tencent and Ellison’s familial ties to Oracle – “have already catapulted Skydance to the forefront of multiple initiatives, like games, software, sports and animation,” Bellan says. Combined with Paramount’s legacy entertainment offerings and established streaming service, new technological prowess will take the organization “to the next level,” Bellan predicts. Read more here: https://lnkd.in/dxxrmEbH
