The move between the production company and the tech giant has been rumored for months, with buzz building after Apple and Skydance brokered a similar deal for animated films and series. The news is yet another signal of the shift in power in the entertainment landscape from traditional media companies to streaming giants.
Skydance had long been most closely associated with one of those legacy companies in Paramount Pictures. They last signed a four-year theatrical distribution deal with the ViacomCBS-owned studio in 2017, which recently expired. Skydance head David Ellison and former Paramount leader Jim Gianopulos were increasingly at odds over releasing films in a pandemic-struck market, insiders familiar with the companies said.
After successfully unloading projects like