Paramount agrees to merge with Skydance, ending monthslong negotiations and Redstone era
Publishing timestamp: 2024-07-08 12:02:20
Summary
Paramount Global agrees to merge with Skydance, ending Redstone family's control. Skydance founder David Ellison will lead the combined company. The deal includes a significant investment in Paramount and the acquisition of National Amusements. The merger is subject to regulatory approval and expected to close in the third quarter of 2025. The deal marks the end of the Redstone family's control over Paramount and Viacom. Skydance and Paramount executives highlight synergies and future plans for the company, including a focus on content creation and adapting to the evolving marketplace. Other potential bidders have 45 days to make an offer.
Sentiment: MIXED
Keywords: paramount global, business, brian robbins, comcast corp, warner bros discovery inc, media, chris mccarthy, breaking news: business, larry ellison, business news, movies, entertainment, television programs,
Source: https://www.cnbc.com/2024/07/08/paramount-skydance-merger.html