Paramount Global’s Expected Sale to Skydance Media Led by David Ellison: General Counsel Caryn Groce Poised for Permanent Role

Paramount Global’s General Counsel Caryn Groce Poised for Permanent Role Amid Skydance Sale

Paramount Global is set to be sold next year to a group led by David Ellison’s Skydance Media, giving acting general counsel Caryn Groce the opportunity to secure the job permanently, according to sources familiar with the matter.

Groce, who has been with Paramount and predecessor Viacom Inc. for nearly 15 years, is seen as being “in the driver’s seat” to demonstrate her capabilities to the potential buyers as the deal with Skydance is expected to close in September 2025.

The sale to Skydance is seen as a positive outcome for Paramount’s legal unit, which has faced challenges due to redundancies following a series of consolidations and financial struggles. Skydance’s legal team, consisting of around a dozen lawyers, is not expected to pose a significant threat to Paramount’s legal department.

Yoo-Jean Chi, a former head of business affairs at Paramount Pictures, recently joined Skydance as its president of global business and legal affairs. Chi, who started her career at Latham & Watkins, is not likely to transition to the role of legal chief for a publicly traded media company but could potentially lead the legal team for the combined entity’s film division.

The sale of Paramount to Skydance has faced some opposition, with major shareholder Mario Gabelli considering legal action to block the deal. Paramount has also been undergoing cost-cutting measures in response to changes in the media landscape and declines in its traditional television businesses.

As Paramount navigates these challenges, Groce’s potential permanent appointment as general counsel could bring stability to the legal department. The departure of key legal figures like Christa D’Alimonte has created opportunities for new leadership within the company.

The history of Paramount and its legal team has been intertwined with major deals and corporate changes over the years, reflecting the evolution of the company under the leadership of media mogul Sumner Redstone. The upcoming sale to Skydance marks another chapter in Paramount’s storied history.

Overall, Groce’s potential appointment as general counsel amidst the sale to Skydance represents a significant development for Paramount and its legal team as they navigate a period of transition and change in the media industry.