Hollywood Week: Skydance Takes Over, Shari Redstone, Sydney Sweeney, Wallis Annenberg

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Category: Entertainment News

Published on Saturday, 02 August 2025 11:58

Written by Janet Walker

Paramount Skydance Media led by David Ellison, the son of Oracle scion Larry Ellison, will move into the historic Paramount Pictures lot this week, after a year of tense negotiations, multiple suitors, and a controversial FCC approval process.

Skydance Media Takes Over

David Ellison, and his Skydance Media team, are prepared this week to move into the Paramount Picture studio lot, as the $8 billion merger has cleared every hurdle, and finally received the FCC seal of approval, after what many called a bribe to grease the wheel of the stalled process.

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The process leading up to the August 7 close, has seen its share of turbulence over the past year. The timeline for the momentous shift in studio control begin in 2009, when Skydance Media and Paramount Studios entered into a five year partnership which would produce and distribute films under the paramount label.

For moviegoers, the Skydance name is synonymous with Tom Cruise and the Mission Impossible franchise. The success of this initial deal led to the partnership being renewed twice and led to the announcement in July 2024 the Skydance will merge with Paramount Global and acquire National Amusements, in an all stock deal valued at $8 billion.

Before the deal was completed, Sony Pictures Entertainment and Apollo Global Management were considered potential suitors, followed by Seagram's heir Edgar Bronfman's attempt in August 2024, to acquire the company with a bid valued at $4.3 billion. Bronfman eventually withdrew his bid.

One year ago, The New York Post wrote, "Under the terms of the agreement, Ellison's Skydance will merge with Paramount in an all-stock transaction that values Skydance at $4.75 billion, creating a company with an enterprise value of $28 billion. Ellison and his financial backers, the Ellison Family and Redbird Capital Partners, will pay $15 a share in cash or stock to Paramount's non-voting Class B shareholders, representing a 48% premium as of July 1."

Shari Redstone Bows Out

In the final earnings call under the leadership of Shari Redstone, 71, who inherited the National Amusement Corporation from her father Sumner Redstone, she said, "I believe I can take it on faith that many on this call understand the enormous importance of this business to my family and to me," Redstone said. "While it is never easy to step away, please know that it has been an honor for my family and for me, to serve as stewards of these assets for decades," reported The Hollywood Reporter.

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Sydney Sweeney's American Eagles Jeans Ad

Another decade, another controversial advertising campaign. Each time an attractive female celebrity as opposed to male celebrities, poses in a provocative clothing advertising campaign, there is a brouhaha over the presentation.

Actress Sydney Sweeney's recent photospread for American Eagle's campaign for jeans, has ignited a social media firestorm, as her physical features, blonde and blue-eyed, are somehow presenting a double or subliminal message of a new America, a celebration of white race superiority. As the campaign is not overly sexualized the Aryan ideology is the only emotional card that can be played. Truly that is a stretch but does feed into the national hysteria surrounding the current administration immigration crackdown and raises the campaign's awareness.

American Eagle has issued a statement saying the campaign is always about the jeans. Social media influencers understand the power of social but in this case the continued uproar will only produce further debate. And while fringe groups want to enflame audiences for political motivations, the recent FKA Twigs campaign, an African British singer, was banned in the UK.

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For American audiences, the most sexually charged ads were from fashion designer Calvin Klein. "The infamous Calvin Klein Jeans ad campaign features a then 15-year-old Brooke Shields wearing a pair of slim-fit jeans and a brown button-down shirt exposing her midriff. Alongside her photo is the tagline, "You want to know what comes between me and my Calvins? Nothing" — insinuating that the underage Shields was not wearing underwear. Commercials of the campaign were banned from being shown on CBS and ABC in the U.S," reported Yahoo.com.

The teenage Brook Shields marketing campaign caused an uproar with parental guidance groups, and others, and in turn the Sydney Sweeney ad, is causing a similar uproar with the current national temperature surrounding the immigration and political administration.

Calvin Klein, who has been known to push the advertising envelope, has continued since the 1980s to create provocative, suggestive, and even sensational campaigns. The recent ad featuring the British singer FKA Twigs, a black and white campaign which showed the curve of the singer's buttocks, and half her breast, with a draped denim shirt, barely noticeable was banned in the UK and the ASA (the British equivalent of the U.S. Association of National Advertisers, deemed the ad too heavily focused on the singer's body instead of the clothes. It can be seen here.

In each of these instances, Madison Avenue marketing has completed their task. They created an advertising campaign that enters the national conversation, raise temperatures, create platforms for pundits, pro and con, to voice and present arguments for their opinions and in the end, bring attention to the brand, and sells the clothing, which was the original idea.  

Both ad campaigns became iconic and memorable throughout popular culture and advertising. For the celebrities, it is a win-win, both for the celebrities and sales.

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Wallis Annenberg, Philanthropist, Dies

Wallis Annenberg, the influential philanthropist who adopted Los Angeles as her home, and supported foundations for the arts, science, and animal care, passed away this week. She was 86.

"Wallis transitioned peacefully and comfortable this morning to her new adventure," the family said in a statement. "She was surrounded with love. Cancer may have beaten her body, but it never got her spirit. We will hold her and her wisdom in our hearts forever," reported The Los Angeles Times.

Wallis Annenberg is intertwined with the Southern California community and can be seen throughout Beverly Hills, Los Angeles, and the surrounding areas, including the Wallis Annenberg GenSpace in Koreatown for older adults, the Wallis Annenberg PetSpace which includes both medical facilities and a staff to assist in finding homes for pets deemed unadoptable. Her commitment to animal welfare went beyond traditional house pets, the Wallis Annenberg Wildlife Crossing, the largest in the world, will open in 2026, and will provide safe crossing for many of the wildlife that take refuge in the Santa Monica Mountains. The completed animal crossing will cover a massive ten lane expanse. In Beverly Hills, the Wallis Annenberg Center for the Performing Arts is a major cultural and meeting place attraction.

Annenberg's father, Walter Annenberg had founded the Annenberg School for Communication at the University of Pennsylvania, and The USC Annenberg School of Communication and Journalism recognizes the power of the printed word and the value and importance of truthful media.

Ms. Annenberg's death, and billion dollar estate is marred in controversary as claims of abuse and mistreatment are circulating.

Wallis Annenberg is survived by four children, five grandchildren, and one great grandchild.

Janet Walker is the publisher, founder, and sole owner of Haute-Lifestyle.com. A graduate of New York University, she has been covering international news through the Beltway Insider, a weekly review of the nation's top stories, for more than a decade.  A general beat writer/reporter and entertainment/film critic, she is also an accomplished news/investigative news/crime reporter and submitted for Pulitzer Prize consideration "Cops Conspire to Deep Six Sex Assaults" in the Breaking News Category and was persuaded to withdraw the submission. Ms. Walker has completed five screenplays "The Six Sides of Truth," "The Assassins of Fifth Avenue," "The Wednesday Killer," "The Manhattan Project," and the sci-fi thriller "Project 13: The Last Day." She has also published "Unholy Alliances: A True Crime Story," and "Days, Times, Seasons, and Events: A Collection of Poetry & Prose," which can be purchased here. She is a member of the Los Angeles Press Club, the National Writers Union, and a former member of the International Federation of Journalists.