Skydance-Paramount Deal Drags Hollywood Further Into a Tech Future | Analysis

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With an $8 billion agreement to buy the legacy studio, CEO David Ellison is promising to leverage technology to turn Paramount from a struggling legacy studio into a tech-content powerhouse

David Ellison & Paramount
Skydance CEO David Ellison (Getty Images / TheWrap Illustration)

The lines between traditional Hollywood and the tech industry became fuzzier than ever when Skydance Media announced on Sunday that it had an $8 billion deal in place to acquire Paramount Global, the entertainment conglomerate with a century-old movie studio along with a TV network, cable channels and streaming services.

“The tech companies have obviously been pushing very significantly into the media space,” CEO David Ellison told TheWrap in a media call on Monday, referring to Apple, Amazon and of course the Netflix streaming colossus. “We believe what is required to meet this moment is to obviously have a traditional media company like Paramount expand into both a media and technology company.”


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