Paramount launches new games studio, first title due at Summer Game Fest

Paramount is moving from licensing games to making them in-house, and it chose Summer Game Fest to show the shift in public. The company launched Paramount Games Studio on June 4, bringing Skydance Interactive and Skydance New Media under one roof, with Tony Driscoll named president while he also keeps his role as EVP of corporate strategy and development. For players, the immediate question is whether this becomes a safer IP factory or a studio that can ship a game with real identity.

The new division is built around one mandate: turn Paramount’s franchises into immersive, enduring experiences. Paramount has also started talking about games as a core pillar alongside film, television and streaming, which marks a sharper push than its earlier model, when its gaming business was largely limited to licensing IP to third parties. Driscoll brings more than two decades of experience across entertainment, media and emerging technology, including roles at Epic Games, Warner Bros., AT&T and Disney, giving the new studio a leader with both corporate and game-business credibility.

The first public sign of that strategy was Teenage Mutant Ninja Turtles: The Last Ronin, revealed at Summer Game Fest on June 5 and developed by PlatinumGames. Paramount described it as a AAA action-adventure game for consoles and PC, built around the comic series about the last surviving Ninja Turtle seeking revenge. That is a telling opening move: Paramount did not lead with a mobile tie-in or a small licensed project, but with a premium action game built on one of its most recognizable brands.

Avatar Legends: The Fighting Game rounds out the early slate and gives the studio another near-term test. The fighter has a closed beta set for July 2-5, 2026, a full launch scheduled for July 23, 2026, and a $29.99 Steam preorder price at reveal. Skydance New Media’s other announced projects, Marvel 1943: Rise of Hydra and an untitled Star Wars game made with Lucasfilm, are still in development, showing the studio is launching with both fresh reveals and long-running bets already in motion.

The timing also fits Paramount Skydance’s wider corporate push. Paramount and Skydance closed their merger in August 2025, and the company is now waiting on regulatory approval for a pending Warner Bros. Discovery acquisition valued at $110 billion. In that context, Paramount Games Studio looks like more than a branding exercise. Summer Game Fest gave the first answer, but the real test is still ahead: whether The Last Ronin can stand on its own, even for players who never cared about the license before.