Skydance Media is reportedly exploring the possibility of an all-cash bid to gain control of Paramount Global (PARA), specifically attempting to buy a majority stake in National Amusements which is the parent company of Paramount. With multiple changes being made at companies like Disney (DIS) and Warner Bros Discovery (WBD), the media landscape may shape out to be a different beast in 2024.

Matt Belloni, Puck Entertainment Founding Partner and Journalist, joins Yahoo Finance to give insight into the current landscape of the entertainment industry and what it could look like going forward.

Belloni affirms: "We're entering a year of retrenchment and consolidation in the entertainment industry. There's been an incredible run up over the past decade as streaming video has challenged linear television as the dominant delivery mechanism, and when both were thriving, we had a very robust economic ecosystem for content." He continues on to say "So, we're seeing a huge correction in the content ecosystem in Hollywood right now."

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Nicholas Jacobino

Video Transcript

[AUDIO LOGO]

JARED BLIKRE: Skydance reportedly exploring an all-cash bid that would give it control of Paramount. The production company led by David Ellison and its investors looking to buy a majority stake in National Amusements, that is the parent company of Paramount. For more on the potential deal and the media landscape that we're seeing in 2024, we're turning to Matt Belloni, Puck founding partner and entertainment journalist. Thank you for joining us here today, Matt.

Let me just get your big picture view. We've seen media get shaken up on a periodic basis. It's almost like a cycle. I don't want to say you could set your watch to it, but we've seen a lot of people over the years. What do these latest moves signify?

MATT BELLONI: Well, I think we're entering a year of retrenchment and consolidation in the entertainment industry there's been. An incredible run up over the past decade as streaming video has challenged linear television as the dominant delivery mechanism. And when both were thriving, we had a very robust economic ecosystem for content.

Now, we're seeing the linear television market really declining faster than anyone thought. And the streaming video landscape has not been profitable for any companies besides Netflix and then the tech companies that don't really need it to be profitable, Apple and Amazon. So we're seeing a huge correction in the content ecosystem in Hollywood right now.