The entertainment giant Paramount will merge with Skydance.
Shari Redstone's National Amusements has owned more than three-quarters of Paramount's Class A voting shares though the estate of her late father, Sumner Redstone. She had battled to maintain control of the company that owns CBS, which is behind blockbuster films such as "Top Gun" and "The Godfather."
Skydance was founded in 2010 by David Ellison and it quickly formed a production partnership with Paramount that same year. Ellison, if the deal is approved by U.S. regulators, will become chairman and chief executive officer of what's being called New Paramount. Paramount, however, has struggled to find its footing for years and its cable business has been hemorrhaging. To capture today's growing streaming audience, the company launched Paramount+ back in 2021, but losses and debts have continue to grow.
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Entertainment giant Paramount agrees to a merger with SkydanceEntertainment giant Paramount, which owns CBS and was behind blockbuster films such as “Top Gun” and “The Godfather” has agreed to merge with Skydance. The new combined company is valued at around $28 billion.
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Entertainment giant Paramount agrees to a merger with SkydanceEntertainment giant Paramount, which owns CBS and was behind blockbuster films such as “Top Gun” and “The Godfather” has agreed to merge with Skydance.
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Entertainment giant Paramount agrees to a merger with SkydanceEntertainment giant Paramount, which owns CBS and was behind blockbuster films such as “Top Gun” and “The Godfather” has agreed to merge with Skydance.
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Entertainment giant Paramount agrees to a merger with SkydanceEntertainment giant Paramount, which owns CBS and was behind blockbuster films such as “Top Gun” and “The Godfather” has agreed to merge with Skydance
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Entertainment giant Paramount agrees to a merger with SkydanceThe on-again, off-again merger arrives at tumultuous time for Paramount. The new combined company is valued at around $28 billion.
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