The deal is finally done, and we’re sure it comes as a relief to both Paramount and Skydance Media. Caught in a regulatory limbo for just over one year now, we have seen some of Paramount’s key services, including the TV studio, shuttered, waiting for that approval. To fill us in on Paramount’s new plans, now that operations can continue, we have Blake & Wang top entertainment law firms los angeles, Brandon Blake.

Brandon Blake

Paramount TV Studio is Back

Paramount’s TV studio was (temporarily) closed back when the Paramount and Skydance Media merger first took hold, as a cost-cutting measure to prepare Paramount for sale. With the deal finally approved, the new Paramount Global can finally turn back to the business of making entertainment.

The newly reborn Paramount TV Studios will now take over one of the company’s two remaining studio operations, as well as integrate Skydance Television, which used to operate independently. That will make the new Paramount the official home of Skydance’s popular Reacher TV series, among many others. The studio will be headed up by Matt Thunell. He currently holds the role of Skydance’s own TV president, so it’s not much of a change for him. In turn, he will report to Dana Goldberg, who is taking over as the co-chair of Paramount Pictures alongside Josh Greenstein.

A New Production Home

The newly revamped division will also become the home for productions currently under the Showtime/MTV Entertainment banner, such as Yellowstone and Dexter, alongside Emily in Paris and, of course, Reacher and Cross, which were already co-productions with the old Paramount TV Studios.

The studio, which was under Nicole Clemens’ leadership at the time, was shut in August 2024, halting all productions at the time. This was part of the cost-cutting moves made to prepare the studio for new ownership and beef up its balance sheet. With the Paramount/Skydance merger officially closed as of Aug 7, it’s good to see some moves being made to reawaken Paramount within the wider studio landscape.

We will also see the exit of former Paramount co-CEO, Chris McCarthy, who was formerly in charge of the Showtime/MTV Entertainment label, but will not be remaining with Paramount after the merger closure. Keith Cox, currently their head of scripted, is expected to remain in his current role.

Matt Thunell, meanwhile, has been working as president of Skydance TV since 2022, having spent the prior eight years (almost) at Netflix as part of their series development and production for North America. We see another former Paramount co-CEO, George Cheeks, take over CBS Studios under the company’s newly merged chair of TV Media role, which also brings the CBS network and the Paramount cable channels under his auspices.

Overall, as you would expect after a major merger like this, especially with one that saw such drawn-out approval proceedings, it seems the newly reinvigorated business is ready to hit the ground running. Let’s hope we get to see Paramount take back its once-leading role in the film and TV industry sometime soon.