Mirror Review
July 25, 2025
Summary:
- The Federal Communications Commission (FCC) has approved the $8 billion merger between Paramount and Skydance Media in a 2-1 vote.
- The approval followed some unusual commitments from Skydance.
- The merger has been surrounded by controversy, including allegations of political pressure from the Trump administration, a $16 million settlement paid by Paramount to President Trump, and the cancellation of Stephen Colbert’s “The Late Show”.
The Federal Communications Commission (FCC) has approved the $8 billion merger between Paramount Global and Skydance Media, clearing the path for the formation of the “Paramount Skydance Corporation.”
This marks the end of an era for the Redstone family, longtime controllers of Paramount, and the beginning of a new chapter led by David Ellison, CEO of Skydance and son of Oracle co-founder Larry Ellison.
But with new leadership comes a new direction, so what does this mean for the iconic shows and movies you love?
10 Franchises Under the New Paramount Skydance Corporation Banner
While there is ongoing controversy and drama, one thing is clear: this merger creates a media powerhouse with control over some of Hollywood’s most valuable franchises.
1. Mission: Impossible
A crown jewel for both studios, as Skydance already co-produces the Mission Impossible series. The partnership is expected to continue, though budget cuts may scale back the franchise’s (and Tom Cruise’s) hallmark stunts.
2. Top Gun
Skydance’s massive success with Top Gun: Maverick makes a third installment highly probable. It’s a proven moneymaker and fits the blockbuster mold the new company will want to champion.
3. Star Trek
This enduring sci-fi franchise has numerous series and films. The new leadership could consolidate its vision for the Star Trek universe, potentially leading to more interconnected storytelling or a focus on fewer, bigger projects to maximize ROI.
4. CBS News & “60 Minutes”
This division has been at the center of the merger’s controversy. With Skydance committed to installing an ombudsman to handle bias complaints, the news division will be under intense scrutiny. This could lead to a noticeable shift in editorial tone and story selection to align with the new mandate for “unbiased” coverage.
5. Transformers
This blockbuster franchise is safe but may see a reset. Expect cleaner storylines, potentially avoiding controversial themes while leaning into nostalgic characters and broader global appeal.
6. SpongeBob SquarePants
As a key asset of the Nickelodeon channel, this beloved animated franchise is a merchandising giant. Its family-friendly, apolitical nature makes it a safe and valuable property for the Paramount Skydance Corporation. Expect its universe to continue expanding through spin-offs and movies.
7. South Park
Already a source of tension during negotiations, South Park aired an episode mocking the merger and Trump settlement. As one character in the show warned, “You really want to end up like Colbert? … Just shut up, or we’re going to get canceled, you idiots!”. Its future remains uncertain, as its tone clashes with the new leadership’s cautious image.
8. Tom Clancy‑based franchise (Jack Ryan)
The Clancy brand fits perfectly into Skydance’s vision—action, intelligence, and military themes. While Jack Ryan may continue, expect more tightly controlled storylines and a shift away from controversial geopolitics.
9. Lee Child‑based franchise (Reacher)
Reacher is a grounded, no-nonsense action series that has performed well on streaming. It’s a valuable asset likely to expand further, with Skydance possibly exploring spin-offs or crossover events.
10. Hasbro author universes (units tied to Hasbro-branded IP managed with authors)
Paramount holds rights to several Hasbro-connected stories like G.I. Joe and Dungeons & Dragons. These worlds are ripe for building shared cinematic universes—similar to what Marvel has done—with strong merchandising opportunities.
Using Skydance’s Strengths Strategically
The Paramount Skydance merger is about building on what already works.
Skydance has deep roots in many of the franchises it now fully controls.
The studio has already co-produced Top Gun: Maverick, Mission: Impossible, and Jack Ryan, which helped define its brand as a leader in high-budget, action-driven storytelling.
IPs like Transformers, Star Trek, and Reacher fit right in, thanks to their global appeal and cinematic structure.
Skydance’s tech-forward mindset and dual experience in film and streaming make it well-suited to manage complex franchises like Star Trek, which thrive on futuristic concepts and cross-platform potential.
In short, the new Paramount Skydance Corporation isn’t inheriting unfamiliar assets—it’s taking over brands it already understands and knows how to scale.
What’s at Risk Under New Management?
While Skydance’s leadership brings experience, there are creative risks.
Budget reductions may scale back ambitious productions.
Newsroom oversight, through the ombudsman role, could subtly shift CBS’s editorial tone. And politically sensitive shows like South Park might face constraints, as the company moves to promote neutrality and avoid controversy.
There’s no doubt that the Franchise’s identity and creative freedom will be tested in the coming year.
Final Word: Big Franchises, Bigger Stakes
The creation of the Paramount Skydance Corporation changes Hollywood’s landscape. This isn’t just about studio ownership—it’s about how stories get told, what gets made, and who gets heard.
Skydance now controls a high-value list of franchises—and with it, the responsibility to guide how they evolve in a changing media landscape.
How they choose to balance politics, profits, and public trust will define not just the future of these franchises, but the future of the American media industry.
