Skydance Corp (PSKY)

Paramount Skydance Corporation is a global media and entertainment company formed through the August 2025 combination of Paramount Global and Skydance Media, following the acquisition of National Amusements, Inc. by entities controlled by the Ellison Family and RedBird Capital Partners; entities controlled by the Ellison Family now hold approximately 77.5% of the company's Class A common stock through Harbor Lights Entertainment, Inc. (formerly NAI), while Class B common stock trades on Nasdaq under "PSKY." The company's brand portfolio includes Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance's animation, interactive/games and sports divisions. In 2025 the company operated through three segments: TV Media (domestic/international broadcast networks including the CBS Television Network and 29 owned CBS Stations, domestic cable networks, international free-to-air networks like Network 10 in Australia and Channel 5 in the U.K., and television studio operations including CBS Studios and Paramount Television Studios); Direct-to-Consumer (streaming services Paramount+, Pluto TV, and BET+); and Filmed Entertainment (Paramount Pictures, Skydance's animation/interactive/sports units, Paramount Animation, Nickelodeon Studios, and the Miramax joint venture). Beginning in Q1 2026, the company will report under a new three-segment structure combining Filmed Entertainment and TV Media studio operations into a new "Studios" segment, alongside unchanged TV Media and Direct-to-Consumer segments.

Notably, on December 8, 2025, Paramount announced a cash tender offer for all outstanding Warner Bros. Discovery, Inc. Series A shares at $30.00 per share, later amended to include a personal guarantee from Lawrence Ellison, a ticking fee mechanism, and prepayment provisions related to a competing Netflix merger agreement; on February 24, 2026, Paramount raised its offer to $31.00 per share with revised terms, and the Warner Bros. Board determined this could reasonably lead to a "Company Superior Proposal" under the Netflix merger agreement, though no final superiority determination has been made.

Paramount has secured debt financing commitments of up to $57.5 billion and equity commitments of $46.6 billion from Ellison Family entities and RedBird Capital Partners to support the offer. The company also completed divestitures of Telefe (Argentina) in October 2025 and Chilevisión (Chile) in January 2026. As of December 31, 2025, Paramount employed approximately 17,600 full- and part-time employees across 30 countries, plus roughly 3,600 project-based staff, and maintains human capital programs addressing anti-harassment/discrimination, talent retention, and employee health and safety.

The company operates in highly competitive media, entertainment, and technology markets, competing for creative talent, content rights, audiences, advertisers, and distribution across broadcast, cable, streaming, and other platforms, and is subject to extensive U.S. and international regulation, including FCC broadcast licensing and ownership rules, foreign ownership restrictions, content and children's programming regulations, and global data privacy laws. The company is headquartered at 1515 Broadway, New York, New York.