Skydance Deal Done, What Next For Paramount Global?
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(Photo by Apu Gomes/Getty Images) Getty Images It’s been a long, brutal, wildly partisan, and wholly unlikely slog to get here, but Shari Redstone finally gets to preserve her family fortune by selling her patrimony, the media empire laboriously assembled by father Sumner, for about $8.5 billion and goodness knows how much cortisol and angst. So now what? Where does Skydance Entertainment, the media company assembled by mogul-in-the-making David Ellison, scion of another wealthy industry pioneer, take Paramount Global now that the Federal Communications Commission has finally signed off on the deal, clearing the way for it to close on Aug. 7? Some big moves already have happened, just in the past several days: Amid great dismay from the left side of the political dial, Stephen Colbert’s broadcast-leading but money-losing late-night show was told it will expire next May, alongside Colbert’s $20 million contract. Late-night talk shows have become an endangered species, as younger audiences tap YouTube and social media for highlights, and advertising revenue continues to decline. But Colbert is also a pointed critic of the Trump Administration, calling Redstone’s $16 million settlement of a specious Trump lawsuit against 60 Minutes “a big fat bribe” two days before the cancellation announcement. A $1.5 billion deal to secure three seasons of new South Park episodes and 26 past seasons was announced, in time for a scorchingly satirical take on the president’s penis, satanic bedfellows, an AI-generated Trump wandering nude in the desert, and much else. The Sermon on the ‘Mount episode also represented, amid the resulting furor on the right, a canny announcement that the collected calumnies of creators Trey Parker and Matt Stone are finally available on the Paramount Plus streaming service, after years licensed on Warner Bros. Discovery’s HBO Max. Its debut the week the FCC approved the…
Filed under: News - @ July 29, 2025 12:26 am