The article is a very fast read because it's Axios, but in a nutshell, either:

• Skydance gets Paramount intact, but possibly with financial trouble and selling some IP.

• Sony gets Paramount, but restructures the company and also possibly sells some parts.

• Nothing happens... and Paramount continues its downward spiral, probably accelerated by a failed sale.

The can of worms opened today, as now Paramount is officially open to a buyout from sony.

I don't like this at all. Avatar is a high budget IP, animesque fantasy, and not historically, proveably profitable like Star Trek/Spongebob. Avatar Studios is a real candidate to be chopped off.