Paramount Reportedly Close To New Acquisition Deal With Skydance… Again

The Paramount Global acquisition saga has another surprising twist late today, with the return of Skydance Media. New reports say that Shari Redstone’s National Amusements has agreed to a deal to be sold to Skydance and their RedBird Capital backers. No, you are not experiencing a time loop, the company that owns Star Trek looks to be headed to new management. There are also changes to Paramount+ (the streaming “home of Star Trek”) in the works.

Skydance is back

This new deal is a shocking development after Redstone rejected a deal that seemed all but certain earlier last month. According to reports from the trades and business press, Redstone’s NAI and Skydance have quietly continued their talks in recent weeks. Like with the previous deal, Skydance would buy out NAI and then merge with Paramount in a two-step process. According to Bloomberg, the new deal includes a bigger payout for Redstone as well as some form of indemnification for potential shareholder lawsuits, which were reportedly her big sticking points that killed the previous deal in June. Variety reports this new deal will now be reviewed by Paramount Global’s special committee overlooking mergers and acquisitions. That same committee had recommended the previous deal with Skydance in June

Paramount Global stock jumped close to 6% in late-day trading after the first reports of the new deal, jumping even more in after-hours trading. In June after previous talks fell apart the stock hit a record low since the CBS/Viacom re-merger in 2019.

With all the ups and downs over recent months, it would be premature to call a merger with Skydance a done deal, but this may be the closest the parties have come. Many Trek fans have seen Skydance as the best potential partner as they have partnered with Paramount on the recent Star Trek movies and they are committed to keeping Paramount Global intact. The Wall Street Journal was first to report on the new developments, noting that Skydance and NAI have agreed to a 45-day “go-shop period,” during which other potential bidders can make offers. Since late 2023 there have been a series of potential suitors for Paramount and/or NAI. The latest to enter the mix is longtime Hollywood exec Barry Diller, who used to run Paramount from 1974-1984.

Skydance’s David Ellison at the premiere of Star Trek Beyond in 2016

While all this is going on, the trio of CEOs who are currently running Paramount are continuing with their plans to cut costs and streamline the company, including selling off BET and other assets, possibly including the historic Paramount lot in Hollywood. And CNBC is reporting they are making good on their announced plan to find a joint venture partner for Paramount+ with Warner Bros. Discovery reportedly in talks to combine Paramount+ with their Max streaming service. Even if the deal with Skydance goes through, some kind of streaming joint venture still seems inevitable. This would have an impact on Star Trek as Paramount+ is the “home of Star Trek” (with the exception of Prodigy, with the second season just launched on Netflix).

This is a developing story. As always, TrekMovie will report on the latest in business news that impacts the franchise.


Keep up with all the corporate news that can impact Star Trek here at TrekMovie.com.

 

 

Early last month an imminent deal with Skydance was

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This temporal causality loop is driving me bonkers.

And in the end it won’t effect Star Trek in the least.

It likely will affect the movies if there is a regime change at the movie studio. Say goodbye to whatever plans they had for a fourth Kelvin movie and whatever the Trek prequel movie project is, as the new regime cancels the previous management’s projects and starts their own.

Skydance has co produced all the Kelvin movies, they won’t have any issues with more Kelvin movies

Perhaps. Every Kelvin project seems to implode on its own though, so whatever is going wrong with the series might still keep going wrong.

That is a very naive stance. Depending on who buys Paramount, Star Trek could be VERY affected.

But it won’t be. Stop being a drama queen.

I want Star Trek to be affected, starting with firing Kurtzman. Then stop it with the Kelvin movies (I know Skydance made the Kelvin movies but stop it anyway). Focus on ONE universe. Take whatever works – Strange New Worlds is the best thing they have now – and build out from there.

Make sure the series and movies stay connected and coherent. Casual fans do not want or need multiple universes. Any degree of confusion will drive them away. Star Trek can’t survive on the relatively small population of diehards.

If Ellison wants to manage Star Trek better than it has been (low bar there), he’ll end the disconnect between series and movies. We don’t need two Spocks and two Kirks. Incoherence doesn’t help build a fanbase for what is after all, a struggling franchise.

This is out of the blue. When I walked away from Bloomberg earlier today, they were talking about a deal to spin off BET, and one of the announcers was kinda rolling her eyes about the sale of Paramount as a whole just being something that’s gone on way to long now.

Stay tuned. Selling Paramount, or Trek 14, which comes first?

Paramount will be sold long before another Trek movie goes into production. Blood is in the water. Redstone is going to be forced to sell it or merge it, whether she wants to or not it seems.

According to some reports in the past hour, the deal is done. What does this mean for our favorite franchise?

It’s over. 🤣

Oh please it’s not. Star Trek is one of Paramount’s core franchises. Skydance makes Kelvin movies so I suppose they could force the streaming series into the Kelvin timeline. I’d prefer the movies adhere to the series’ timeline. But having people who are interested in Star Trek and have a track record with it, is not the worst thing possible.

Paramount+ will probably keep going as a streaming platform even though at this point, they should concede defeat and become an arms-dealer providing content to Netflix, Amazon, Apple, Max and Hulu.

There is also reporting today that Paramount is looking to sell off BET for 1.6 billion dollars, and that more asset sales are in the works.

For anybody who still says “I want my MTV” and has a spare billion dollars to spend, it might be possible…

Overpriced. MTV sucks now.

Yeah, YouTube killed the video star, as the saying goes.

I’ve been wondering for over 20 years why it’s still called ‘MTV.’ Hell, 30 years…

Easy.It’s a brand name.

Paramount Max incoming?

Paramount+Max :)

Paramount Max+ with Showtime!

Maxamount. Like that greed Shari Redstone wants. Max Amount.

Well I recently got an email informing me my Max sub. is going up to $17 a month, so that sounds on-track.

Anybody talking hbo/peacock merge to achieve maxcock?

Don’t think this would even be a topic here if GR had had the money to buy TREK outright from Par back in 71 or 72. Pretty sure the asking price was 150,000.

Never a damn time travel plot device around when you need one, now is there??

Maybe if everybody old enough to remember Al Stewart’s ‘Time Passages’ sings along, it’ll trigger the effect. Can you imagine early 70s uber-dedicated trekfans helping GR crowdfund a buyout of Trek? I can. I can also imagine same said fans stringing him up if he made THE CATTLEMEN after getting the rights.

He would have ran it into the ground.

It would of tanked and we wouldn’t have the majority of the content that did happen. Outsiders had to save the franchise with Wrath of Khan.

Certainly, Roddenberry supported,TWOK. At least,publicly. No?

He’s the one who arranged to leak Spock’s death, with support like that, who needs enemies? (tho it probably did improve the story since it was impetus for them to move his death to the film’s climax.)

If there had been ANY kind of Trek movie released in 75 or 76 ahead of STAR WARS, it would have cleaned up like you wouldn’t believe, REGARDLESS of quality. Trek utterly primed the pump that SW cashed in on. 30,000 people at a con in 76, we’re talking rabid devotees, and for a modestly budgeted film, it’d have been in profit from the opening weekend.

Also, maybe he’d have gotten Justman involved instead of shutting him out, so there would have been a good mind in place. And if he acted really fast, he could have gotten this going while Gene Coon was still alive, which in my mind, would have been the best possible way to go for Trek.

We may have been trapped here for hours, days, maybe years.

If we go by the book, hours could seem like days…

If we go by the way Paramount has cooked the books, we may find that GODFATHER, GREASE and SATURDAY NIGHT FEVER haven’t turned a profit yet. Remember, this is the studio that acknowledged TMP made 175mil worldwide by the start of 1982, but mysteriously that number got downgraded EVERYWHERE to 139 mil by the time Shatner & co started looking at doing an audit of the books around 1986 or so.

The 175 figure was mentioned by David Gerrold in STARLOG before TWOK came out. It also jives with the other numbers I saw in Variety and/or THR in late 79 and 1980. TMP did 39 mil in rentals by the end of 79 and topped out at 55 or 56 domestic theatrical rentals. The old rule of thumb for calculating gross is to multiply rentals time 2.5, which … wow, adds up to 139 or 140. But wait, that is only DOMESTIC! What about the 30 or 40 mil overseas? Geez, wouldn’t that push it up to 175 or so? But for nearly 40 years, everybody reports TMP as having grossed 139 worldwide.

How many Trek movies broke a hundred million before the 2009 film from JJ. TMP did that is acknowledged, Wrath of Khan didn’t. III didn’t. IV did. V didn’t. VI didn’t. Generations did. First Contact did, Insurrection did and Nemesis didn’t.

I read about “Hollywood Accounting” as I was getting into the business. I probably shouldn’t have. Kind of ruined me.

When I first had the concept of a ‘rolling break’ explained to me, I mentally equated it with being about as pleasant a notion as a steaming dump, which is apropos of Hollywood accounting.

I think the only way accountants live with themselves is if they are part George Costanza, and simply delude themselves into thinking something is a way it most definitely is not.
(apply same thought to lawyers, come to think of it.)

I will be on the lookout for an inordinate number of encounters with the numeral 3.

I’m still convinced no film will be ready for the 60th anniversary of Star Trek, except probably the Section 31 streaming film. No JJ film will be ready, they have made a mess of things.

Agreed.

when the original talks broke off… the farewell statements were too cutesy… like they were “ok, we’re done, im walking away now, i’m not coming back, good luck”…. felt like a fake walk away.

very happy… if this happens it saves a studio and great news for star trek

and would love to see paramount be back as a major player. they’ve definitely stopped the bleeding and are releasing some hits. but in the golden days man they were pumping out so many classics

If we were to chart this saga in the form of a diagram, it would be the actual Auryn from The NeverEnding Story.

🐍♾️🐍!!!

The Ellisons must really really really want this deal. (I count Daddy Warlocks in this because he’s obviously bankrolling his nepobaby’s ambitions.)

Skydance is probably the best option for the good of Star Trek but the Ellisons will have their work cut out for them because they’ll have a huge headache to deal with and I don’t just mean the way Kurtzman is screwing up almost every Star Trek show he touches.

Paramount is still hugely exposed to the death of linear TV, moreso even than Disney and Warners, and look how they’ve been struggling. Paramount+ is #6 in a field that will support 4 or 5 major streamers. Try subscribing to Paramount+ sometime. What a lot of old broadcast garbage, cop shows out the wazoo etc. Netflix may have lousy quality but at least they offer some range.

it seems to be official… best news to hit star trek in a few years… cant wait to see what ellison and skydance want to do with it.