Oracle in talks for US$100 million Skydance-Paramount cloud deal
The new arrangement is expected to be worth about US$100 million per year, according to sources familiar with the matter who asked not to be named speaking about the private discussions. The agreement would see Paramount and its subsidiaries using Oracle's cloud software, the sources said.
Skydance was founded by David Ellison, the son of Oracle chairman Larry Ellison. The company already uses Oracle software, spending US$2.2 million on cloud infrastructure and platform products in the fiscal year that ended in May 2024, according to a company filing. The elder Ellison is helping bankroll Skydance's acquisition, which involves US$8 billion in cash payments and investment.
A spokesperson for Skydance declined to comment. Paramount and Oracle did not respond to requests for comment.
This deal would make the combined Skydance-Paramount a major cloud client of Oracle's. It could also potentially save Paramount hundreds of millions of US dollars as they update their systems, according to one of the sources familiar with the plans. Paramount owns a cadre of media properties such as the CBS and MTV networks, which create large amounts of memory-heavy video and audio and would be hosted in Oracle's cloud servers.
David Ellison has said he plans to run Paramount more efficiently, in part by updating its technology. Details of the agreement could still change, the sources said.
The Paramount-Skydance merger, first announced last year, has one big hurdle left – approval by the Federal Communications Commission (FCC). David Ellison met last week with FCC chairman Brendan Carr and other commission staff members to pitch the deal.
Earlier this month, Paramount settled a suit alleging media bias at CBS News brought by US President Donald Trump. On Monday (Jul 21), US Senators sent a letter to Ellison asking whether the settlement was connected to efforts to complete the merger.
Oracle, known for its database software, has gained traction in the market for renting out computing power and storage over the internet, in part by targeting clients focused on artificial intelligence work. It counts companies including TikTok, Zoom Communications and Uber Technologies, as major customers. BLOOMBERG
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