Eric Thayer/Getty Images Share on Facebook Share on X Share to Flipboard Send an Email Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Print the Article Post a Comment Shares in newly-minted Paramount Skydance are nearing meme darling status on the heels of closing a merger between the storied Hollywood studio and David Ellison's Skydance, and then unveiling a deal with UFC and parent TKO to make Paramount+ the new streaming home to UFC events in the U.S. Paramount Skydance stock has displayed wild price swings this week typical of meme stocks, with shares edging down by 17 cents, or just over 1 percent, to $14.83 in pre-market trading on Thursday. But that followed an 8 percent rise in the share price on Tuesday, with the stock popping at one point by 60 percent on Wednesday to $17.53, before closing the day up $4.03, or 37 percent, to $15 on heavy trading volume. Related Stories Business Paramount Skydance Says It Won't Spin Off Cable Networks, But ... Business Paramount Inks 7-Year, $7.7 Billion Deal for UFC Rights in First Big Swing for New Owners Ellison will run Paramount Skydance as CEO and former NBCUniversal boss Jeff Shell becomes president, running the company day-to-day, as the combined Hollywood giant now appears set to invest for growth and reduce operating costs, moves favored by Wall Street backers. Paramount brings the Paramount film and TV studios, Paramount+, CBS, and such cable channels as Nickelodeon, MTV and Comedy Central to Skydance. The merger deal allowed Shari Redstone, who has controlled Paramount via the controlling stake held by her National Amusements since her father Sumner Redstone's death in 2020, to cash out. Exiting Paramount co-CEOs Brian Robbins, George Cheeks and Chris McCarthy had been focusing on cost reductions and a healthy content pipeline in the run-up to the Skydance deal close. Wall Street analysts are looking for news on the company's strategies for its streaming and linear TV businesses. THR Newsletters Sign up for THR news straight to your inbox every day Subscribe Sign Up Podcasts Alex Cooper, Dax Shepard and Other Top Podcasters Reveal Their Proudest On-Air Moments Tubi Tubi Expands Partnerships With MrBeast, Other Creators Podcasts Who's Really Winning the Podcast Wars - and How Podcasts Are Top Podcasters Fudging Their Numbers? THR, Esq SAG-AFTRA Members Settle Lawsuit Against Union Health Plan Over Data Breach paramount skydance Paramount Skydance Says It Won't Spin Off Cable Networks, But ... Podcasts Alex Cooper, Dax Shepard and Other Top Podcasters Reveal Their Proudest On-Air Moments Tubi Tubi Expands Partnerships With MrBeast, Other Creators Podcasts Who's Really Winning the Podcast Wars - and How Podcasts Are Top Podcasters Fudging Their Numbers? THR, Esq SAG-AFTRA Members Settle Lawsuit Against Union Health Plan Over Data Breach paramount skydance Paramount Skydance Says It Won't Spin Off Cable Networks, But ...