Paramount's Strategic Shift: From Merger Woes to Tech Ambitions
RedBird Capital's Gerry Cardinale played a key role in the $8.4 billion merger of Paramount and Skydance, marking a significant shift in Hollywood with private equity's increasing influence. Cardinale, an outsider with a focus on IP monetization and cost efficiency, aims to leverage Paramount's extensive IP assets to adapt to the streaming era, while navigating industry challenges such as declining linear TV and high debt.
