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RELATED PARTIES | 6 Months Ended
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Jun. 30, 2026
Related Party Transactions [Abstract] |
RELATED PARTIES | RELATED PARTIES The Ellison Family (Successor) At June 30, 2026, the Ellison Family, the controlling stockholder of Paramount, indirectly held approximately 77.5% of our voting Class A Common Stock through their collective approximate 77.5% ownership interest in Harbor Lights Entertainment, Inc. (f/k/a National Amusements, Inc.) and 47.2% of our Class A and non-voting Class B Common Stock on a combined basis. In addition, in connection with the PIPE Transaction, the NAI Equity Investors (including entities controlled by the Ellison Family) received warrants to purchase a total of 200 million shares of Paramount Skydance Corporation Class B Common Stock (of which entities controlled by the Ellison Family received warrants to purchase a total of 155 million shares) at an initial exercise price of $30.50 per share (subject to customary anti-dilution adjustments), which expire five years after issuance. The Ellison Family is comprised of Lawrence J. Ellison and David Ellison. David Ellison is the son of Lawrence J. Ellison, and Lawrence J. Ellison and David Ellison are accordingly considered immediate family members. David Ellison is the CEO of Paramount and the Chairman of our Board of Directors. Lawrence J. Ellison is the Chairman and a significant stockholder of Oracle Corporation (“Oracle”). We have several multi-year software as a service agreements with Oracle, principally for finance and human resources, as well as software support agreements and database licenses used by various applications. During the three and six months ended June 30, 2026, we made payments to Oracle totaling $44 million and $46 million, respectively. In February 2026, we executed a six-year cloud infrastructure services agreement with Oracle with a total commitment of $300 million, under which payments escalate over the term, in connection with our anticipated enterprise, data, and streaming workloads. In addition, we have a lease agreement with a term that expires in 2034 under which the lessor is an entity owned and controlled by Lawrence J. Ellison. At June 30, 2026 and December 31, 2025, the total liability associated with these leases was $166 million and $174 million, respectively. During the three and six months ended June 30, 2026, we recorded lease costs associated with these leases totaling $10 million and $14 million, respectively. The Ellison Family has investments in other entities over which they have control or can exert significant influence, which as a result, are related parties to us. We did not have any material transactions with these entities. RedBird (Successor) In December 2025, RedBird BD LLC, an affiliate of RB Maverick LLC and RB Tentpole, was engaged as a financial advisor to the Company in connection with the evaluation of the WBD Merger. Pursuant to the agreement, RedBird BD LLC is entitled to receive an aggregate transaction fee of $80 million upon closing, comprised of $60 million for mergers and acquisitions advisory services and $20 million for capital raising advisory services. If a termination fee is paid to us in connection with the WBD Merger, RedBird BD LLC is entitled to receive 20% of such fee (subject to a cap of 50% of the aggregate fee that would have otherwise been payable to RedBird BD LLC had the WBD Merger been consummated). In the second quarter of 2026, we entered into a three-year agreement with RedBird Development Group LLC (“RedBird Development”), an affiliate of RedBird, for media strategy and operations transformation services related to branded media initiatives. Under the agreement, RedBird Development is compensated through structured quarterly commission fees, subject to an annual cap of $12 million per year plus reimbursable travel and business expenses of up to $300,000 annually. Warner Bros. Discovery Merger As further described in Note 1, in connection with the WBD Merger, the Ellison Parties and RedBird entered into the Subscription Agreements and the Equity Syndication. In addition, we are required to reimburse the Ellison Trust and RedBird for reasonable and documented out-of-pocket expenses, each subject to a cap of $5 million. Other Related Parties In the ordinary course of business, we are involved in transactions with our equity method investees, primarily for the licensing of television and film programming. We earned revenue from an equity method investee of $55 million and $147 million during the three and six months ended June 30, 2026 (Successor), respectively, and $98 million and $164 million during the three and six months ended June 30, 2025 (Predecessor), respectively. Receivables from this equity method investee are included in “Receivables, net” and “Other assets” on the Consolidated Balance Sheets. These totaled $185 million and $90 million, respectively, at June 30, 2026, and $201 million and $87 million, respectively, at December 31, 2025. Through the normal course of business, we are involved in other transactions with related parties, including other equity method investees, that have not been material in any of the periods presented.

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