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 had wavered in the past months, with money disagreements on both sides. But they were able to put that behind them, switch stock holdings, and come together. Regulators will still have to approve this, but unless there's some crazy twist, 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. 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...
Published By: NoFilmSchool - Monday, 8 July, 2024