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Can Skydance Move the Mountain? Team Ellison Needs a Bold Plan to Revive Paramount’s Fortunes
Skydance founder David Ellison and his backers are set to write a new chapter in Paramount's history. He'll need a bold plan to move the mountain.
A generation later, Ellison’s Skydance Media and Gerry Cardinale’s RedBird Capital are poised to add a new chapter to the history of Paramount, CBS and more, after an equally protracted and hard-fought negotiations with Shari Redstone’s National Amusements Inc. The new leadership team, which includes Ellison as chairman-CEO of the merged company and former NBCUniversal CEO Jeff Shell as president, sought to answer that question as it made the rounds with analysts and reporters after clinching the sale agreement on July 7. Candle Media, the Blackstone-backed group led by former Disney executives Kevin Mayer and Tom Staggs, has grappled with debt after snapping up glitzy Hollywood assets like Reese Witherspoon’s Hello Sunshine and the kids-media outlet Moonbug Entertainment.
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