Photo: Reuters
Paramount Global, the company behind Nickelodeon, MTV, BET, and famous movie studios, has just completed a big merger with Skydance Media worth $8.4 billion. After the merger, new leadership held a gathering at the Paramount Pictures studio lot to share their plans for the future.
Instead of selling or dropping its old TV channels, Paramount wants to keep and refresh them. They think networks like Nickelodeon, MTV, and BET are still strong brands—even though regular cable TV is becoming less popular.
At the same time, the new owners also plan to make a lot more movies. Right now, Paramount makes about eight films a year. Soon, they want to go up to 15 movies “very quickly,” and eventually reach 20 films each year.
Why Paramount Is Changing Now
For years, media companies have been struggling because people are spending less time watching cable TV, preferring to stream shows online. Many studios have sold off or shut down their cable channels. But Paramount’s new leaders say they see value in these networks. They want to redefine them for modern audiences, especially by blending them into streaming instead of letting them fade away.
At the same event, George Cheeks, who oversees TV media, admitted cable is facing a lot of challenges. Still, he said the company’s networks have built up beloved programs and characters—so they are worth keeping and transforming for the streaming world.
Big Movie Plans Ahead
Paramount revealed ambitious plans to ramp up its movie-making. The studio currently produces eight feature films a year, but they want that number to be 15 soon, and eventually 20 per year. This is a huge change that will put Paramount among the most active studios in Hollywood again.
The movies will include well-known franchises that many fans grew up with, like Star Trek and Transformers, as well as new titles like High Side, featuring Timothée Chalamet. They also plan to make fun, family-friendly films—think A Night at the Museum or The Goonies—because they want to bring back the feel-good movies many grew up loving.
One of the leaders said, “We all grew up on these movies, and we don’t feel like many people are making them anymore.” It’s a clear effort to tap into nostalgia while still giving audiences fresh stories.
Blending Creativity and Technology
David Ellison, the new CEO and Chairman of Paramount, spoke passionately about turning the company into a place where the best filmmakers want to work. He believes that using new technologies—especially artificial intelligence—can boost creativity without replacing people. He compared the shift to how Pixar changed animation by blending art and tech.
Ellison wants Hollywood’s storytelling tools to evolve quickly, and he’s making room for innovation inside the company.
Standing Out from Others
This approach is quite different from some other media giants. Companies like Warner Bros. Discovery and Comcast have chosen to separate their cable networks from their movie studios and streaming platforms. Paramount is doing the opposite. They’re betting that their brand names—MTV, BET, Nickelodeon—still carry weight and can shine on streaming platforms.
Analysts say this strategy flips the script: instead of cutting off cable and chasing streaming alone, Paramount will use both legs of its old and new business to stand strong.
Merging the Old and the New
The merger with Skydance Media officially closed last week. Now, Paramount has new leadership: Jeff Shell as President, and David Ellison as Chairman and CEO. They are backed by tech funding, including $1.5 billion in fresh capital, and a plan to save $2 billion by trimming costs. But their big hope is to rejuvenate a classic studio using new energy and ideas.
Under Ellison’s vision, Paramount will be more of a media and technology company, not just a film studio. He plans to streamline operations, use advanced tools like AI for production, and build a tight, tech-driven structure that connects studios, streaming, and TV media work.
Why This Matters for Audiences and Film Fans
For families and movie lovers, this means more familiar stories may be coming back. Think new installments of old favorites. For creators, this could make Paramount a place that values bold ideas and gives tools to make them real.
And from a business angle, the decision to keep cable brands while growing streaming and films is a bold twist. It’s like choosing to keep your old toys while building new ones—if done well, it can appeal to both old fans and new ones.
Questions to Think About
- Why do cable channels like Nickelodeon and MTV still matter in a streaming world?
- What makes family fun movies like The Goonies and Night at the Museum so beloved?
- How could AI and new tech help people tell better stories?
- What risks does Paramount face by keeping cable channels when others are giving them up?
Paramount's new owners have made their intentions clear. They’re keeping what’s well-loved—MTV, Nickelodeon, BET—and bringing it into the future. They’re also stepping up their movie game,
making more films faster. And they plan to use technology to power creativity, not replace it.
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