Entertainment giant Paramount agrees to a merger with Skydance

Entertainment giant Paramount, which owns CBS and was behind blockbuster films such as “Top Gun" and “The Godfather” has agreed to merge with Skydance, the companies said.“Given the changes in the industry, we want to fortify Paramount for the future while ensuring that content remains king,” said Shari Redstone, chair of Paramount Global.

David Ellison will be chairman and chief executive officer of what’s being called New Paramount. The agreement still needs regulatory approval. Skydance wasn’t the only one to make a Paramount bid in recent months — Apollo Global Management and Sony Pictures also made competing offers. Late last year, Warner Bros. Discovery also made headlines for exploring a potential merger with Paramount. But by February, Warner hadShania Twain wows crowds in tweed mini skirt paired with sparkling white boots as she battles illness

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