Paramount agrees to merger with Skydance

Paramount Global and Skydance Media have reached a deal to merge the two media companies together, according to a Sunday joint statement. The proposed merger comes after reports of renewed talks between the two companies emerged earlier in the month and after months of interest from various potential bidders. Paramount Global and David Ellison’s Skydance Media said the merger will occur in two steps. According to the companies, the Skydance Investor Group will pay $2.

" The companies said they hope to "re-imagine the Company’s operating model, transform its technological platform, streamline its organization and accelerate other initiatives already underway" through the merger. "We are committed to energizing the business and bolstering Paramount with contemporary technology, new leadership and a creative discipline that aims to enrich generations to come," Ellison said.

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