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| Via The Dailies - Newsletter (https://newsletter.readthedailies.com/subscribe?ref=sD9D8Ym1ka)With regulatory approval in the rearview mirror, the $8B Skydance-Paramount merger now has a tentative closing date of August 7th. That means David Ellison and team are just weeks away from taking the keys to CBS, MTV Networks, and Paramount Pictures. |
- 📺 The streaming challenge: Paramount+ has 79M subscribers—respectable, but still far behind Netflix’s 300M+ and can't truly compete with Netflix's war chest. The new tech-savvy owners promise UI improvements and may pursue partnerships with rival streamers. Co-CEO Chris McCarthy (the brains behind Paramount+ originals) will exit when the merger completes.
- 🔄 Asset shuffle expected: With streaming officially overtaking broadcast and cable, industry watchers expect Skydance to spin off cable networks like MTV, BET, Nickelodeon, and Comedy Central—just like Warner Bros. Discovery and Comcast are doing. Some dealmakers also speculate CBS News could be spun off separately, similar to how Fox News was divorced from entertainment when Murdoch sold to Disney.
- 📰 News division reset: CBS News just named veteran insider Tanya Simon as the new ‘60 Minutes’ executive producer—a choice backed by the program's correspondents after longtime showrunner Bill Owens’ recent departure. The program remains CBS's most profitable show, though industry observers are watching how the news operation evolves under new ownership.
- 🎬 The movie studio needs CPR: Paramount Pictures accounts for just 7% of the domestic box office. Despite hits like ‘Top Gun: Maverick,’ the century-old studio has struggled with its franchise output in recent years. David Ellison plans to install Skydance's Dana Goldberg as the new film chief—and he's inheriting a treasure chest of IP including ‘Transformers,’ ‘Star Trek,’ ‘Mission: Impossible,’ ‘SpongeBob,’ ‘Sonic,’ and ‘TMNT.’ Expect a serious franchise revival.
- 🏈 The NFL wildcard: Ownership changes allow the NFL to reopen CBS's contract for Sunday games, AFC Championship, and Super Bowls—meaning they could potentially move that programming to another network. Without the NFL, CBS would face catastrophic revenue loss. Commissioner Goodell says he doesn’t anticipate changes, but he's got a two-year window to make that call.
- 💰 Cost-cutting: Skydance has promised $2B in cost savings across the combined company. Like any major merger, there will be redundancies between the two organizations—expect layoffs as the new leadership streamlines operations.
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| Looking ahead… The end is finally in sight for this 13-month merger saga. August 7th officially launches Paramount Skydance Corp and marks the beginning of a new era for these entertainment brands. |
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