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Paramount Global owner calls off merger talks with Skydance Media

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National Amusements, which owns a majority voting stake in the embattled entertainment giant Paramount Global, says it has ended talks on a possible merger of Paramount with movie production company Skydance Media. The potential deal had drawn attention for weeks amid speculation about Paramount's future.

FILE - The main gate to Paramount Studios is seen on Melrose Avenue, July 8, 2015, in Los Angeles. National Amusements, which owns a majority voting stake in the embattled entertainment giant Paramount Global, said Tuesday, June 11, 2024, that it has ended talks on a possible Paramount merger with Skydance Media.

Skydance, based in Santa Monica, California, has helped produce some major Paramount hits in recent years. Those include several Tom Cruise films including “Top Gun: Maverick” and installments of the “Mission Impossible” series. Its founder and CEO is David Ellison, the son of Oracle founder Larry Ellison.

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