Paramount and Skydance merge, signaling end of a family rein in Hollywood and the rise of new power
Jul 8, 2024
The entertainment giant Paramount will merge with Skydance, closing out a decades long run by the Redstone family in Hollywood and injecting desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape. It also signals rise of a new power player, David Ellison, the founder of Skydance and son of billionaire Larry Ellison, the founder of the software company Oracle. Shari Redstone's National Amusements has owned more than three-quarters of Pa