The Big Picture Just when it looked like the merger between Skydance and Paramount was a done deal, talks have now fallen through in a somewhat surprising twist of events. According to the Wall Street Journal, Paramount's controlling shareholder and National Amusements owner Shari Redstone has chosen not to approve the merger deal, potentially putting an end to a half-a-year long process. Redstone and National Amusements are now reportedly exploring deals with other interested parties.
The previously approved deal would have seen Skydance acquire both National Amusements and their controlling stake in Paramount, thus making them the majority shareholders of Paramount Global. With all those shares combined, Skydance would have been in control of the company by having two thirds of Paramount. The deal failing doesn't necessarily mean that a Skydance/Paramount merger is impossible, but the previous deal that existed is seemingly off the table.