Skydance-Paramount Drags Hollywood Into Tech Future, CBS Will Be ‘Cornerstone’ Asset and Larry Ellison Invests $6B in Paramount Takeover

Plus: {NAME} wins ‘Rust’ pre-trial victory, WashPo Taps Krissah Thompson to build ‘third newsroom’ and Washington Free Beacon flexes after antisemitic texts [David Ellison & Paramount]( [Skydance-Paramount Deal Drags Hollywood Further Into a Tech Future | Analysis]( By Alexei Barrionuevo and Lucas Manfredi 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.” [Read More]( --------------------------------------------------------------- [CBS]( [CBS Will Be a 'Cornerstone' Asset of New Paramount, Jeff Shell Teases]( By Lucas Manfredi As David Ellison and Jeff Shell look to the future of Paramount Global, CBS is expected to be a “cornerstone” asset of the new company, the executives said on Monday. “We believe in the business, and really, the reach of CBS is very important to us,” Shell, who was named president of the new Paramount, explained. “There’s really no change in the overall vision for the asset, other than we believe in it. It’s going to be actually part of all of our plans going forward.” [Read More]( --------------------------------------------------------------- [Larry Ellison Invests $6 Billion in Son David’s Paramount Takeover]( By Sharon Knolle Larry Ellison is providing the majority of the money for son David Ellison’s Skydance Media merger with Paramount, TheWrap has learned. The founder of Oracle and his family are contributing $6 billion to the deal while while private equity firm RedBird Capital Partners will contribute the remaining $2 billion. [Read More]( --------------------------------------------------------------- [Alec {NAME}'s role in an on-set death on "Rust" highlighted the issue of crew safety.]( [Alec {NAME} Wins 'Rust' Pre-Trial Victory as Judge Rules to Exclude His Role as Coproducer]( [Washington Post Taps Krissah Thompson to Build ‘Third Newsroom’ Digital Initiative]( [Protestors wave Palestinian flags on the West Lawn of Columbia University on April 29, 2024 in New York. Student demonstrators at Columbia University, the epicenter of pro-Palestinian protests that have erupted at US colleges, said Monday they would not budge until the school met their demands, defying an ultimatum to disperse or face suspension.]( [Washington Free Beacon Flexes After Columbia Removes Deans Over Antisemitic Texts]( ['Devil Wears Prada' Sequel in the Works at Disney]( --------------------------------------------------------------- [WrapPRO logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](