What is going on at Paramount right now
There’s a frustration that is echoing through the industry in both the US and internationally right now with the future of Paramount Global up in the air.
Right now, there’s what seems to be a process underway. The first step was for the Trump lawsuit against CBS to, well, go away. US$16m later, that went away in early July. The next is for a merger to be approved.
The Trump-controlled FCC in the US needs to approve the transfer of Paramount's broadcast licenses to Skydance. It is around 240 days into what is supposedly a process, though the common consensus seems to be that said process will be sped up now that the pesky lawsuit has been dealt with.
Most seem to agree that the deal will go through. It’s just a matter of when. But, until the approval happens (there’s another 90 day extension underway that is up in October), nothing is certain and thus, can really go ahead in a meaningful way.
The Skydance team are unofficially gumming up the works, getting involved in the business of the business ahead of the acquisition. There’s talk that former Netflix exec Cindy Holland (she ran scripted back in the day when Netflix was pretty great and less gourmet cheeseburger-focused), will be leading scripted content on Paramount+ and was involved in the longer-than-usual process which saw Yellowjackets renewed for a new season.
Should we read into suggestions Skydance is circling around a purchase of Bari Weiss’
Substack? Interesting following rumours that Skydance CEO David Ellison was keen to have her join 60 Minutes.And then there’s the South Park deal, which has hundreds of millions of dollars at stake as negotiations continue for either a five or ten year contract extension. Over the weekend, the international streaming rights coincidentally expired. That show is already two weeks behind its current season return.
Right now is the part where I drop in a large thought about what is going on or a stat that backs up a broader idea around the business.
But there’s nothing extra to add. Right now, it’s all just a waiting game. Either the deal falls apart, or the deal goes ahead and we see whether this will be a transformative merger for what has been a stagnant Paramount for a few years.
We continue to wait. Maybe this week…
News Desk
New Superman writer-director James Gunn is reportedly exploring spin-off shows from the film based on Jimmy Olsen and Mister Terrific. Read: Wall St Journal
Sky News will remain on regional TV channels following a new deal with the Paramount-owned Network 10. Read: Mediaweek
George Lucas is coming to Comic-Con for the first time ever. He’ll appear on a panel with Guillermo del Toro and Star Wars prequels production designer Doug Chiang for a panel that will explore the power of illustrated story. And who better to moderate the panel than… Queen Latifah? Read: THR
As you would assume, Mark Frost says that with the passing of David Lynch, that will be the end of Twin Peaks. Read: Dark Horizons
A companion podcast and interactive digital projects will launch alongside the new Alien: Earth TV show. Read: thefutoncritic
Production has ended on season 2 of Daredevil: Born Again, thus ending the two-season order Disney+ made of the Marvel show that has, politely, not exactly been driving the viewership. Read: Dark Horizons
Trailer Park
Billy Joel: And So It Goes debuts July 18 on HBO Max.
The Winning Try debuts July 25 on Netflix.
After his career fell apart, a disgraced rugby star finds purpose coaching his old school's team - driving them and himself toward growth and redemption.
The Nice Guy debuts 18 July on Disney+.
That’s the newsletter for today.
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