Skydance Media is set to merge with Paramount Global, with the deal expected to close by August 7, 2025. Upon completion, David Ellison, CEO of Skydance, will lead the combined company as chief executive. Jeff Shell has been appointed president, and Andy Gordon from RedBird Capital will serve as chief operating officer. The merged entity will be structured into three business segments: Studios, Direct-To-Consumer (DTC), and Television Media. Matt Thunell, Skydance TV president, will oversee a merged division combining Showtime and MTV Entertainment Studios, reviving the Paramount TV Studios brand that was shuttered in 2024. The new board of directors will include notable figures such as former Paramount executive Sherry Lansing, Oracle CEO Safra Catz, Jeff Shell, and Gerry Cardinale of RedBird Capital Partners. RedBird Capital is investing $1.8 billion as part of Skydance’s $8 billion deal with Paramount. The leadership team also features executives from RedBird and NBCUniversal. The merger aims to leverage Skydance’s strengths in studios and direct-to-consumer platforms alongside Paramount’s media assets.