Hollywood's Paramount Global Merges with Skydance Media

Skydance Media and Paramount Global have merged, with Skydance acquiring National Amusements for $2.4 billion, followed by a $4.5 billion offer to Paramount's shareholders and $1.5 billion for its balance sheet. The deal marks a significant shift for Paramount, aiming to embrace a tech-focused future under new leadership. The merger also signals the end of the Redstone family era at Paramount, with Shari Redstone divesting her controlling stake in the company. The merger will create a new entity valued at around $28 billion, combining Paramount's classic films with Skydance's recent successes like Top Gun: Maverick. Paramount expects to finalize the deal by the summer of 2025, ushering in a new chapter for the iconic Hollywood studio.