Skydance Media

• 1. Introduction

  ›

  Skydance Media took its name from a flying technique. David Ellison, a licensed pilot, drew inspiration from aerobatics called "skydancing" when he founded the company on the 4th of April 2006. The name was a clue to what the company would become: something that moves fast, operates at altitude, and tends to show off. By the time Skydance ceased to exist as an independent entity on the 7th of August 2025, it had co-produced some of the highest-grossing action franchises of the 21st century, raised over a billion dollars in credit and equity, and ultimately swallowed one of Hollywood's oldest studios whole. How did a single pilot's passion project grow into an $8 billion merger? And what does it mean that the company's final act was to absorb Paramount Pictures rather than be absorbed by it?

• 2. Larry Ellison's Son

  ›

  David Ellison's first film as a producer was Flyboys, released on the 22nd of September 2006, co-financed with Metro-Goldwyn-Mayer. Ellison himself starred in it. The film signaled something about how this company would operate: close to the action, personally invested, and willing to spend. His father, Larry Ellison, was a co-founder and then-CEO of Oracle Corporation. When the Paramount partnership came together in 2009, it was Larry Ellison, described at the time as the sixth richest person in the world, whose equity investment helped Skydance raise $350 million in equity and credit. That sum allowed the company to position itself not as a passive backer but as a genuine creative partner. Dana Goldberg, hired from Village Roadshow Pictures before August 2010, was brought in to oversee development and production as chief creative officer, giving the company experienced creative leadership to match its financial firepower.

• 3. The Paramount Partnership

  ›

  In the fall of 2009, Skydance and Paramount signed a five-year co-financing, production, and distribution agreement. That initial deal was renewed in the summer of 2013 for four more years, then renewed again in August 2017 for an additional four years to 2021, this time extended to include animated films. The relationship produced an unlikely string of blockbusters. True Grit arrived on the 22nd of December 2010. Mission: Impossible - Ghost Protocol followed on the 16th of December 2011. Star Trek Into Darkness, World War Z, and G.I. Joe: Retaliation all clustered around 2013. Each film reinforced what Skydance was good at: big budgets, global distribution, and genre fare that traveled. The apex of the partnership was Top Gun: Maverick, released the 27th of May 2022, co-produced with Don Simpson/Jerry Bruckheimer Films and TC Productions. Its success validated Skydance as something more than a checkbook.

• 4. Building the Divisions

  ›

  Skydance Television launched on the 1st of May 2013, with Marcy Ross hired as division president. Its first show, Manhattan, debuted on WGN America on the 27th of July 2014. The series received critical acclaim but failed to hold ratings and was cancelled after two seasons in 2015. The television arm went on to produce Foundation, the Apple TV+ adaptation of Isaac Asimov's science fiction book series, with David S. Goyer and Josh Friedman as writers; Apple bought the streaming rights in 2018 and renewed it for a second season upon release in 2021. Skydance Interactive followed in May 2016 after the acquisition of The Workshop Entertainment. Its first VR game, Archangel, launched on the 18th of July 2017. The animation division arrived on the 16th of March 2017, through a partnership with Madrid-based Ilion Animation Studios. Skydance New Media, a separate video game studio, was founded the 18th of November 2019, under Amy Hennig, and is developing Marvel 1943: Rise of Hydra, slated for 2026 and powered by Unreal Engine 5. Skydance Sports rounded out the portfolio, launching the 20th of October 2021, under Jon Weinbach.

• 5. Capital and Investors

  ›

  Later in 2015, Skydance raised $700 million in new financing: $200 million in equity from a group of investors and a $500 million line of credit from J.P. Morgan Chase. That round reflected how thoroughly the company had outgrown its origins as a one-film operation. On the 25th of January 2018, Tencent bought a 5%-10% minority stake. RedBird Capital Partners and CJ ENM invested in February 2020. On the 13th of October 2022, Skydance completed a $400 million strategic investment round led by KKR, a first-time investor, joined by the Ellison family as majority shareholders. In January 2022, Skydance had also reached a non-exclusive multi-year first-look deal with Apple Original Films; Variety reported it called for two films per year at a budget of at least $125 million each, with Skydance receiving at least $25 million per film while retaining intellectual property rights. By July 2023, Skydance brought in a new $1 billion credit facility, giving the studio what its announcement described as enhanced flexibility across its business lines.

• 6. Acquiring Paramount

  ›

  In January 2024, reports surfaced that David Ellison wanted to buy National Amusements, Paramount Global's controlling shareholder, from Shari Redstone. Exclusive talks opened, expired without a deal, then restarted. On June 11, merger talks were reported to have fallen apart. By July 2, negotiations had resumed. On July 7, Ellison officially announced an $8 billion deal: a group of Skydance investors would pay $2.4 billion in cash for National Amusements; Paramount Global would pay its Class A and Class B stockholders $4.5 billion in cash and shares; and Paramount would add $1.5 billion in primary capital to its balance sheet. A second phase called for an all-stock merger between Skydance Media and Paramount, valued at $4.75 billion. Paramount had 45 days to seek competing offers. None materialized. On the 24th of July 2025, the FCC approved the acquisition, and the merger closed on the 7th of August 2025. Skydance Media ceased to exist as a standalone company that day, folding into Paramount Skydance with David Ellison as founder, owner, chairman, and CEO. His film library transferred to Paramount Pictures. Skydance Television merged into a relaunched Paramount Television Studios, with Matt Thunell, who had come from Netflix, serving as president.