Paramount Global owner calls off merger talks with Skydance Media

📆 12/06/2024 02:43:00
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Larry Ellison,Entertainment,David Ellison

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.

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.

Robert Fishman, an analyst with MoffettNathanson, said the deal's collapse leaves Paramount with the same problems that have long weighed it down, and few prospects for an infusion of cash or new ideas to help turn things around.

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