This article covers a developing story. Continue to check back with us as we will be adding more information as it becomes available. The Big Picture The Paramount merger saga finally appears to be drawing to a close with Skydance Media ultimately winning out. Per The Wall Street Journal, Shari Redstone's National Amusements, the parent company of Paramount Global, has reached a preliminary agreement with David Ellison's banner to merge following a payment of $1.
This deal marks the latest twist in Redstone's attempts to sell, which became especially notable back in December when Paramount was initially in talks with Warner Bros. Discovery and David Zaslav regarding a potential merger. Skydance eventually emerged as a contender to snap up the entertainment giant, but talks fell through around mid-June in a shock to many in the industry at the time.