Skydance Media has finalized its acquisition of Paramount, giving the company a 70% economic stake and 100% voting control, according to Barron's. David Ellison, son of Oracle co-founder Larry Ellison, is taking over as CEO. The $11 billion firm inherits major assets including CBS, Paramount Pictures, cable networks like MTV and Nickelodeon, and the streaming service Paramount+. Paramount’s shares have fallen 75% over the past decade, weighed down by legacy media challenges. Ellison plans to cut costs by at least $2 billion annually, boost investment in streaming and premium content, and explore potential asset strategies. Analysts remain cautious, with only 3 of 25 rating the stock a Buy, but the low valuation and potential strategic shifts make it a contrarian opportunity for investors.
