EXCLUSIVE: We might have the primary casualty of the extended — and unpredictable — regulatory approval strategy of Skydance‘s proposed $8 billion Paramount takeover. Skydance is pausing new spending on a high-profile drama sequence starring and govt produced by Jeremy Robust and written and govt produced by Tobias Lindholm, sources inform Deadline.
Tentatively titled 9/12, the sequence, which was initially arrange at Sister in 2021 as The Greatest Of Us earlier than transferring to Skydance late final 12 months, tells the story of the primary responders of 9/11, counting on closely researched accounts, and pays tribute to these impacted.
It’s the first and solely to this point Skydance manufacturing budgeted in opposition to the brand new Skydance-Paramount deal; it had been transferring forward for a focused August filming kickoff. That tentative begin of manufacturing timeline stays in place for now however Skydance executives have knowledgeable the sequence’ inventive staff that new spending is being placed on maintain as of right this moment, I hear.
That might impression new hires which were within the works however work on the sequence capable of proceed below pre-existing funds allocations, sources stated.
The funding freeze is proscribed to sequence earmarked for the mixed firm, I hear, and doesn’t have an effect on any of Skydance’s core growth and manufacturing, together with three upcoming sequence, 12 12 12 starring Anthony Mackie and Jamie Dornan for Apple TV+; Journey or Die, starring Hannah Waddingham and Octavia Spencer for Amazon; and Brothers, starring Woody Harrelson and Matthew McConaughey for Apple TV+.
A rep for Skydance declined remark.
The 9/12 transfer comes with simply a number of days left on FCC’s 180-day “shot clock” for the Skydance-Paramount transaction, an off-the-cuff timeline for the company to evaluate mergers. FCC chairman Brendan Carr referenced the timing throughout a press convention this previous Monday.
“On the transaction itself, we’re getting near the casual 180 day clock,” he stated. “I feel we’re someplace within the 160s however we’re simply working our regular course of throughout a whole lot of completely different transactions proper now.”
Carr insisted that the regulatory evaluate, which is essential when switch of broadcast licenses is concerned — like is the case with Paramount as proprietor of CBS — is just not linked to different ongoing Paramount-related issues, together with a possible settlement in President Trump’s $20 billion lawsuit in opposition to CBS over its 60 Minutes Kamala Harris interview.
“The settlement and any discussions round that don’t have anything to do with the work that we’re doing on the FCC,” Carr stated. “There’s at the least three various things are occurring: There’s the litigation, which we’re not part of and there’s been no discussions about, there may be the transaction that’s earlier than us and there may be the CBS information distortion [complaint].”
The FCC may lengthen the clock on the Skydance-Paramount evaluate. Nonetheless, the preliminary window coming to an finish amid lack of great FCC engagement on the proposed merger — the primary proof of talks between the watchdog company and Paramount got here solely final week — probably raised sufficient concern for Skydance brass to halt spending in opposition to tasks budged below the mixed firm.
That is the primary signal of Skydance pumping the breaks on its post-merger plans as uncertainty over the deal grows within the new regulatory local weather below President Trump. Up till now, Skydance and Paramount had been transferring full-speed forward below the presumption that the transaction might be accomplished quickly. With the 2 corporations now within the first of two automated 90-day below the phrases of the merger settlement they reached final summer time, there could also be impression on the opposite facet too, with Paramount dealing with potential new cost-cutting measures if the merger is just not accredited within the close to future.
Working behind the scenes throughout the previous few months has been former Sister World CEO Cindy Holland, a Senior Advisor To David Ellison and Skydance, who has been placing collectively a programming technique for Paramount+ post-merger. 9/12 would’ve been the primary new sequence particularly designed for the brand new, Skydance-controled Paramount+.
