A completed Skydance merger would mark a major shift for the ownership of Paramount, as well as for Hollywood as a whole. The Redstone family has long controlled the movie studio — known for films such as "The Godfather," "Top Gun," and "Forrest Gump" — as well as the CBS broadcast network and cable TV networks like MTV and Nickelodeon. The merger will also put David Ellison, the founder of the production company Skydance and son of Oracle founder and billionaire Larry Ellison, at the helm of a major movie ...

Skydance Media and Paramount Global (PARA.O) opened a new tab and agreed to merge, the companies announced late Sunday, scripting a new chapter for one of Hollywood's oldest studios. The deal represents the end of an era for Shari Redstone, whose father and late patriarch, Sumner Redstone, transformed the family's chain of drive-in movie theaters into a media empire that included Paramount Pictures, the CBS broadcast network and cable television networks Comedy Central, Nickelodeon and MTV. David Ellison, t ...

Access your favorite topics in a personalized feed while you're on the go. Email address By clicking "Sign Up", you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Bull Advertisement Paramount, the media giant that owns Nickelodeon and MTV, has finally agreed to a deal with Skydance Media, the companies said late Sunday. The deal includes an acquisition of National Amusements, which holds t ...

David Ellison's Skydance Media has announced it and its backers will invest $8 billion in a takeover of Paramount Global, capping a seven-month quest. The company had received approval earlier Sunday from a special committee of Paramount's board of directors. The full board then OK'd the plan for a two-step transaction. First the acquisition of National Amusements Inc., the entity run by Shari Redstone that had controlled almost 80% of Paramount voting shares. That transaction will be followed by a full mer ...

The merger agreement includes a 45-day "go-shop" period, which permits the Special Committee and its representatives to actively solicit and consider alternative acquisition proposals. There can be no assurance that this process will result in a superior proposal, and the Company does not intend to disclose developments with respect to the go-shop process unless and until it determines such disclosure is appropriate or is otherwise required. Further information regarding terms and conditions contained in th ...

Investor Call Details For more information about Paramount, please visit www.paramount.com and follow @ParamountCo on social platforms. Skydance Media & RedBird Capital Melissa Zukerman Principal Communications Group Mr. Phillips continued, "The Special Committee would like to thank our Co-CEOs George Cheeks, Chris McCarthy and Brian Robbins for making significant progress on optimizing company operations in a short Management Team and Synergies Transaction Approvals Skydance Animation develops and produces ...

NSIDER TODA Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Access your favorite topics in a personalized feed while you're on the go. Paramount Global's board approved a merger with Skydance on Sunday, multiple outlets reported. This marks the end of a tumultuous deal process and a new era for the troubled media giant. Paramount earlier this year announced layoffs, signaling troubling times in the media landscape. Insider Today Bull ...

Tech scion David Ellison moved one step closer to gaining control of Paramount Global, with a special committee voting Sunday to support a merger with his Skydance Media, a source close to the deal told Reuters. The final deal could be announced as soon as Monday. The deal comes weeks after Redstone abruptly called off negotiations with Skydance on June 11. The vote comes on the heels of a preliminary agreement reached last week to sell National Amusements, which holds a controlling stake in Paramount, to E ...

David Ellison's Skydance Media has gained a key approval vote for the company's proposed acquisition of Paramount Global controlling shareholder National Amusements Inc. after seven months of talks. Reps from NAI, Paramount and Skydance did not immediately respond to Deadline's request for comment. Less than a month ago, it seemed that any hope of the parties reaching a deal had evaporated. Redstone pulled out of a planned deal at the 11th hour over concerns regarding her net proceeds and exposure to shareh ...

The media heiress reached a preliminary agreement to sell her controlling stake in Paramount Global to Skydance Media – just weeks after she walked away from a deal between the two sides, according to multiple reports Tuesday. 5 The media heiress reached a preliminary agreement to sell her controlling stake in Paramount Global to Skydance Media. REUTERS Skydance will pay $1.75 billion for National Amusements as part of the deal, according to the Wall Street Journal, which reported the news earlier on Tuesda ...