Inside Skydance Media’s Financials: David Ellison’s Studio Has Mostly Lost Money Since 2021

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The private company, valued at $4.75 billion in its $8 billion Paramount merger deal, relies on licensing deals with Netflix and Apple, an SEC filing reveals

Skydance Media CEO David Ellison surrounded by characters from "Luck," "Top Gun: Maverick" and "Reacher" (Photo illustration courtesy of Getty Images/Skydance/TheWrap/Chris Smith)

For the first time, privately held Skydance Media has opened up its books, revealing it has been a largely unprofitable business since 2021, despite being valued at $4.75 billion in its merger deal to take over Paramount Global for $8 billion.

The David Ellison-led company, which beat out a number of bidders to take over the entertainment conglomerate controlled by Shari Redstone, posted a net loss of $56 million in 2023, a small profit of $7.99 million in 2022 and another loss of $81.5 million in 2021, according to a 669-page filing with the Securities Exchange Commission last week.

The company also saw its year over year revenue plunge by 40% in the first half of 2024, the year it closed the deal with Paramount Global.

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