The long‑anticipated merger between Paramount Global and Skydance Media is officially entering its final act. On Friday, the two entertainment powerhouses announced that their merger, first agreed upon in July 2024, is expected to close on August 7, 2025, pending customary closing conditions.
The deal will mark a significant shift in Hollywood’s corporate landscape and bring an end to Paramount’s run under its current name and ticker.
With the closing, a new entity, New Pluto Global, Inc., operating as “New Paramount,” will emerge, and its shares are expected to begin trading on Nasdaq under the new ticker symbol PSKY. Paramount’s current tickers, PARA (Class B common) and PARAA (Class A common), will be retired from the exchange following the merger.
Election Deadlines for Shareholders
Stockholders now have limited time to decide how they want to receive compensation for their shares. Paramount has outlined the following election deadlines:
- July 31, 5 p.m. ET – Shareholders of record
- July 28, 4 p.m. ET – Employees with shares via the Morgan Stanley Stock Plan Account or 401(k)
Those holding shares in “street name” through banks or brokerages should check with their institution, as deadlines may vary. Failure to make an election will result in default stockholders receiving stock consideration.
Any delays to the August 7 closing will result in adjusted deadlines, with updates to be announced as needed.
What It Means for the Industry
The merger marks a significant pivot for Paramount, a legacy studio dating back to the silent film era. Teaming with Skydance—David Ellison’s tech-savvy and content-aggressive company—signals a streamlined, modernized direction for one of Hollywood’s oldest brands.
The upcoming rebrand under the PSKY ticker may feel like a nostalgic curtain call for PARA. Still, industry watchers are already speculating about the future of “New Paramount”: more streaming-first strategies, agile development pipelines, and global expansion fueled by the next-gen Skydance playbook.
For longtime shareholders and film fans alike, August 7 won’t just be a corporate milestone—it’ll be the official start of a new Hollywood era.
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