It’s the news we’ve been waiting for since Paramount announced it was for sale: Skydance is officially stepping in to buy the movie studio.
Paramount’s board of directors approved the tentative deal yesterday, which sets everything in motion.
Shari Redstone will sell the studio to David Ellison, and a new dawn in Hollywood begins. It’s one where we maintain a movie studio, one now run by people who love making movies.
This deal wavered in the past months, with financial disagreements on both sides. But they were finally able to put that behind them, switch stock holdings, and come together Sunday.
Regulators will still have to approve the deal, but unless there’s a crazy twist hiding around the corner, this deal looks done.
This is an obvious changing of the guard in Hollywood.
Skydance Media was founded by Ellison in 2010 and has since made movies with other studios, including Paramount. They were behind the Mission: Impossible and Star Trek series as well as World War Z, True Grit, and many other titles.
Filmmakers of all backgrounds should be excited about this merger because it takes a historic studio and puts them together with an up-and-comer who has a proven track record and wants to keep making big movies and not just sell the parts.
It keeps a buyer in Hollywood, and keeps a lot of jobs around as well.
The merger of Paramount and Skydance presents filmmakers with a wealth of potential benefits, from increased resources and opportunities to a wider distribution network and a focus on technology and innovation.
This could lead to a new era of exciting and ambitious filmmaking projects, making it an exciting time to be part of the industry.
We’ve had so many instances of bad news in recent years. This is good news. It signals that people will keep making movies and that there are people passionate about this business still working.
Let me know what you think in the comments.
Author: Jason Hellerman
This article comes from No Film School and can be read on the original site.
