Skydance Chief David Ellison Says Paramount Must “Not Be Paralyzed” During Long Run-Up To Merger Close; Asset Sales Can Continue In Interim

In the wake of Skydance Media’s landmark merger agreement with Paramount Global, Skydance CEO David Ellison acknowledged the need for patience during the road ahead before the deal is expected to close.

Hollywood Reacts To Skydance-Paramount Deal: Dean Devlin Says David Ellison "No Bean Counter ... A Creative First"; Theater Owners Boss "Encouraged"

With about a year’s worth of regulatory review and preparation ahead of the projected third-quarter 2025 closing date, Ellison affirmed during a call with reporters that the three-member Office of the CEO at Paramount will continue reviewing assets. Along with identifying candidates for sale, the management team is also discussing potential streaming partnerships and joint ventures in the U.S. and internationally.

“It is important that the company not be paralyzed in any way, shape or form,” Ellison said when asked how the company would proceed if opportunities arise in the coming months. Skydance would have a “voice” in any deliberations, he added, but would need to defer to the Co-CEOs on the main strategic decisions given the need to avoid tripping any regulatory alarms.

Jeff Shell, the chairman of sports and media for Skydance backer RedBird Capital and future president of Paramount Global, fielded a similar question during a call earlier Monday with investors.

Paramount President-To-Be Jeff Shell Says Linear TV Will Remain "A Strong Business For Decades To Come"

“As far as asset sales, yeah, I mean, there are assets,” he said. “We’ve taken a bottom up approach. As I said, David and I and the team, for the whole asset, the whole portfolio. There are assets here which we think are not strategic to where we’re going, that if we were to get a buyer to pay a price that we thought was compelling, we would absolutely do that. And, you know, I know current management is also talking about a couple of transactions that if they get the right price, will be supportive of us so on that for sure.”

While no specific assets were called out by execs, the company has been in talks with potential buyers of BET and had already been taking a closer look at a number of properties, including ad-supported streaming outlet Pluto TV.

George Cheeks, Chris McCarthy and Brian Robbins, all high-level Paramount execs for the past several years, were elevated to the Office of the CEO after the ouster of Bob Bakish last April. Bakish remains a paid advisor of the company, though he clashed with Paramount controlling shareholder Shari Redstone over the Skydance merger as it took shape.

Skydance On Cost Cuts, Streaming Partnerships & Big Breakup Fee If Another Buyer "Comes Out Of The Woodwork" For Paramount