Skydance, Paramount Ink New Four-Year Deal

A new 'Mission Impossible,' a 'World War Z' sequel and a new 'Top Gun' movie are all in the works.

Skydance Media is staying put at Paramount.

The David Ellison run production company has signed a four-year deal with the studio, with the goal of producing three to four features a year. Under the deal, Paramount will have the opportunity to co-finance and distribute Skydance productions, while Skydance will retain the option to co-produce and co-finance certain of Paramount’s feature films.

Upcoming projects include a new Mission Impossible, a World War Z sequel and a new Top Gun movie, as well as Ang Lee's Gemini Man, starring Will Smith, and a Bermuda Trangle-set thriller from Sam Raimi. Skydance and Paramount are also plotting a relauch of the Terminator series, which may have James Cameron's involvement.

As a part of the deal, Paramount will distribute Skydance's recent forrays into animation. In March, the company announced it's first two animated projects: the comedy Luck, the directorial debut of veteran animator Alessandro Carloni, and Split, a fantasy project from Vicky Jenson. All animation project will be don in partnership with Spain's Ilion Animation Studios.

“We have the utmost confidence in Paramount’s bright future under the strategic direction of Jim Gianopulos, and we look forward to continuing to partner with him and the world-class leadership team that he has put in place,” said Ellison, in a statement.

Added Gianopulos: “David and his team have been creative producers on films in some of the most successful action-adventure and science fiction franchises of all time, and we’re thrilled that Skydance movies will feature prominently on the Paramount slate for years to come."

Skydance's upcoming releases include the much-delayed environmental disaster movie Geostorm via Warner Bros. and Alex Garland's Annihilation.