Paramount's shares recently jumped due to the revival of a merger deal with independent film and TV producer Skydance Media. Skydance, led by David Ellison, has reached a preliminary agreement to buy Shari Redstone's National Amusements Inc. and merge with Paramount, the parent of CBS and MTV.
David Ellison, the son of Oracle Corp. co-founder Larry Ellison, is leading Skydance Media in the merger talks with Paramount Global. Skydance has reached a preliminary agreement to buy Shari Redstone's National Amusements Inc. and merge with Paramount, the parent of CBS and MTV.
The Paramount and Skydance merger involves Paramount Global, an American multinational media and entertainment conglomerate, and Skydance Media, an independent film and TV producer. The merger agreement was reached after several weeks of discussion and competing offers from other companies, including Apollo Global Management and Sony Pictures.