A new week of On The Record intel updates is here!
The media industry has seen no rest in the past few weeks, and this week is no exception either. A big merger is upon us, and lots of people are talking about it. Production studios are built left and right and emerging technologies seem to find their way in the production field.
Let's take a closer look at the media and production landscape and all the hot headlines you might have missed:
MCM Studios and Paul Heyman’s creative agency Looking4Larry are merging to create a full-service production entity based in New York. Their goal is to offer end-to-end capabilities, ranging from concept and production to post production and promotion, all under one roof. A unique selling point of their launch is building what they claim will be “the biggest LED volume wall in all of New York” to support both large and modest productions.
AGI Entertainment Media & Management has hired longtime WME partner Josh Bider as EVP of Talent Management to lead its new Los Angeles office. Brandon Stein, formerly of Brillstein Entertainment Partners, also joins as VP with a roster of comedy and digital talent behind him. The hires mark a major expansion for AGI into comedy, culinary, documentary, and influencer-driven content, strengthening its presence across scripted, unscripted, and lifestyle sectors. AGI’s leadership praised the move as key to positioning the company at an advantage, given the evolving media landscape.
Brooklyn is getting a major boost in film production capacity, with $552 million committed to build Echelon Studios across Red Hook and Bushwick. The project will deliver 600,000 sq ft of new soundstage space and is expected to support 2,400 jobs during construction and operations. The new facilities, designed for big-budget film and TV production, aim to ease New York’s shortage of modern stage infrastructure. They feature high ceilings, column-free spans, strong electrical systems, and the ability to host multiple productions at the same time.
A coalition of Southern Nevada labor unions has committed $1 million to revive a stalled bill expanding the state’s film tax incentives and supporting the planned Summerlin Studios project, backed by Sony, Warner Bros. Discovery, and Howard Hughes Holdings. The proposal, which failed to pass the state Senate earlier this year, would boost Nevada’s annual film credit cap from $10 million to $95 million.
Fremantle has launched Imaginae Studios, an “AI-native” division focused on integrating AI into every stage of production. Meanwhile, Paracosm Studios is developing a “Creator OS” to streamline film and TV workflows, with its first project, The Odyssey, blending true crime and AI recreation of historical events. Both ventures mark a growing institutional embrace of AI in filmmaking, aimed at boosting efficiency while keeping human creativity at the center.
David Ellison’s Paramount Skydance is circling Warner Bros. Discovery (WBD) with a potential $60 billion bid, as CEO David Zaslav tries to split the struggling media giant into separate studio/streaming and cable entities by spring 2026. The move aims to reduce WBD’s $35 billion debt after a rocky 2022 merger with WarnerMedia, but many are doubting Zaslav’s timeline and strategy. Despite recent box office hits boosting shares above $17, critics say Zaslav’s leadership has “failed shareholders every step of the way.”
Journalist Dan Rather criticized Paramount’s decision to appoint Bari Weiss as editor-in-chief of CBS News, calling it “a dark day in the halls of CBS.” Rather warned that Weiss’ hiring — following the Skydance-Paramount merger, which he claims was influenced by the current political administration — signals a shift toward political bias and fear in the newsroom. Rather argued that Weiss could undermine CBS’s journalistic independence, saying staffers now face pressure to align with “a clear political agenda.”
Paramount has named Jay Askinasi, formerly Roku’s ad sales chief, as its new Chief Revenue Officer. The newly created role comes as the company restructures following its merger with Skydance. Askinasi will oversee ad sales and help drive Paramount’s digital transformation, focusing on unified ad platforms and data-driven partnerships. He previously led ad sales at Roku and held senior roles at Publicis Media Exchange, AT&T, and Run, a mobile ad tech firm.
That's it for now! Make sure to tune in next week for more On The Record industry news. Until then, don't forget to check out our LinkedIn and newsletter.