National Amusements ends Paramount merger talks with Skydance Media

Merger discussions between National Amusements, which controls Paramount Global, and Skydance Media have ended without a deal.The two companies 'have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI,' National Amusements said in a statement to CBS News.

However, Redstone is now reportedly pursuing a sale of National Amusements alone, rather than trying to also merge Paramount into another media business such as Skydance, according to a report Tuesday in the Wall Street Journal. Redstone controls National Amusements, which owns 77% of class A Paramount shares.

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