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By Dawn Chmielewski (Reuters) -Streaming-era upstart Skydance Media began scripting a new chapter on Monday for Paramount Global, the day after reaching a deal to acquire one of Hollywood's oldest studios,
Entertainment giant Paramount, which owns CBS and was behind blockbuster films such as “Top Gun” and “The Godfather” has agreed to merge with Skydance
Paramount Global, the company behind "Top Gun" and Nickelodeon, agreed to merge with David Ellison's Skydance.
Skydance Media CEO David Ellison on Monday sketched out a vision for Paramount Global as a technology-media hybrid company at a time Hollywood has been competing for attention with tech giants moving into the entertainment business.
Skydance’s David Ellison and Jeff Shell hint at some of their plans for the company, including $2 billion in potential cuts. The long–running saga of Paramount’s sale is finally at an end, but the real work might just be beginning.
Billionaire investor and money manager Mario Gabelli likes what David Ellison and the Skydance Media team said about their rationale for merging the media and production company with Paramount Global.
David Ellison, the 41-year-old son of Oracle billionaire Larry Ellison, is set to become one of Hollywood's youngest moguls with his Paramount deal.
The companies agreed to a two-step process, in which Skydance and its deal partners will acquire National Amusements, which holds the Redstone family's controlling stake in Paramount, for $2.4 billion in cash.
Less than 24 hours after sealing an agreement to buy Paramount Global, David Ellison moved into mogul mode for the first time on Monday morning, addressing investors and, later, a gaggle of media reporters to discuss his milestone Skydance-Paramount Global deal.
Paramount's leadership trio said it was "business as usual" until the deal closed — likely in the first half of 2025 because of regulatory hurdles.
Paramount's board approved a merger agreement with Skydance Media, tech scion David Ellison laid out his plans for the newly-combined company.
Paramount Global, the sprawling media empire behind CBS, MTV, and one of Hollywood’s most storied movie studios, has agreed to merge with technology scion David Ellison’s Skydance Media, ending years of speculation over the company’s fate.
Paramount Global agreed to merge with Skydance Media in a deal that hands control of the storied Hollywood studio to producer David Ellison, ending one of the industry’s most dramatic acquisitions.
Even after clinching a deal with Skydance Media, Paramount Global has the right to shop around for a better offer in a 45-day window. But if Paramount agrees to accept a more attractive buyout deal, it would be on the hook to pay Skydance a $400 million breakup fee,
The entertainment giant’s deal with the production company founded by Larry Ellison’s son is one of Hollywood’s biggest shakeups in years. Hollywood is set to experience one of the biggest shakeups in recent years after Paramount Global and Skydance Media signed an agreement to merge the two entertainment giants.
Paramount Global, the owner of Paramount Pictures, CBS television, Comedy Central, Nickelodeon and MTV said Monday it had accepted a $8 billion takeover bid from U.S. independent film studio Skydance Media.
To help Paramount Global to grow, its new owner needs to make cuts. Skydance executives who are set to take over the owner of CBS, Nickelodeon and MTV have identified at least $2 billion in cost cuts that can be made at the company,
Skydance Media and Paramount Global have agreed to a merger, the companies announced late on Sunday, marking the end of an era for the Redstone media empire which was launched as a chain of movie theaters by Shari Redstone's family in 1936.
Paramount and Skydance merge, signaling end of a family reign in Hollywood and the rise of new power
The entertainment giant Paramount will merge with Skydance, closing out a decades-long run by the Redstone family in Hollywood and injecting desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape.
The merger would combine Paramount, home of classic films like Chinatown and Breakfast at Tiffany's, with its financial partner on several recent big releases, including Top Gun: Maverick and Star Trek Into Darkness.
Paramount Global will continue reducing the size of its workforce until its merger with Skydance Media closes, the company's co-CEOs said in a memo seen by Reuters on Sunday, hours after the companies announced the deal.
FTC chair Lina Khan suggested that her agency would look unfavorably on further concentration of power in Hollywood.
Now that Shari Redstone has signed on the dotted line to sell her father's media empire to Skydance and RedBird Capital, what future awaits? The vision for a combined Skydance – tech scion David Ellison's production entity behind franchises like "Mission: Impossible" – and Paramount Global has been reported in dribs and drabs over months
David Ellison’s production company would buy Shari Redstone’s National Amusements, Paramount’s controlling shareholder, as part of the deal.
David Ellison achieved his long-sought acquisition of Paramount Global, the owner of MTV and CBS, as the company’s board endorsed a merger with his Skydance Media, according to people with knowledge of the matter.
After months of talks, Paramount Global and Skydance Media officially announced a deal to merge Sunday night. Shari Redstone, non-executive chair of Paramount Global and its controlling shareholder through National Amusements Inc.
Paramount Global agreed to merge with Skydance, ushering in a new era for the media company that has faced setbacks amid a shifting media landscape.
Tech scion David Ellison moved one step closer to gaining control of Paramount Global, with a special committee voting Sunday to support a merger with his Skydance Media, a source close to the deal told Reuters.
David Ellison’s Skydance Media is moving closer to its goal of acquiring Paramount Global after a key vote was taken by Paramount board members. But a formal takeover deal between Skydance and Paramount is still far from in the bag.
You’ve watched some incredibly powerful technology companies move into the ... media space and do so very successfully.”
Skydance Media CEO David Ellison sketched out a vision on Monday for Paramount Global as a technology-media hybrid company at a time Hollywood has been competing for attention with tech giants moving into the entertainment business.
FOX Business senior correspondent Charlie Gasparino reports that Skydance CEO David Ellison brought ‘the deal home in the end.’
Paramount Global agreed to merge with Skydance Media in a deal that hands control of the storied Hollywood studio to producer David Ellison, ending one of the industry’s most dramatic acquisitions. As part of the complicated deal months in the making,
El gigante del entretenimiento Paramount se fusionará con Skydance, cerrando una carrera de décadas de la familia Redstone en Hollywood e inyectando el dinero que necesita desesperadamente un estudio heredado que ha luchado por adaptarse a un panorama de entretenimiento cambiante.
One of Hollywood's oldest companies, Paramount Global, has agreed to merge with independent film studio Skydance Media. Under the deal, Paramount's non-executive chair Shari Redstone will sell her family's controlling stake in the company in a complex transaction that will result in a new firm worth around $28bn (£21.
The end of Paramount Global’s long and windy road to a sale appeared at hand as the companies and a key shareholder backed Skydance Media’s buyout bid.
The deal, approved by Paramount’s board, would usher in a new chapter for the company, which owns CBS and the movie studio behind “Top Gun.”
S&P Global Ratings, the first to wave a red flag about Paramount's finances last fall, today called the planned merger with Skydance "positive" but said it will continue to monitor the transaction, citing concern over the long lead time amid the ongoing decline of linear television.
Oracle founder and chairman Larry Ellison will provide the lion's share of financing for his son's takeover of Paramount Global, Axios has learned. By the numbers: Ellison's family will invest around $6 billion,
Paramount and Skydance have struck a merger agreement. Hollywood's theater owners worry that continued consolidation in the industry will exacerbate production woes that have led to fewer film releases in recent years.
"Global" is in the name above the door and industry-watchers are weighing the international ramifications of Skydance's $8BN merger investment in Paramount. Paramount Global top brass has said it is business as usual until the deal is over the line,
Paramount and Skydance Media have agreed to a transaction to create a combined company worth about $28 billion, adding to a string of high-profile mergers in the entertainment industry. The combined company was referred to as “New Paramount” in a news release from Skydance,
There might have been other scenarios that could have played out in other ways, but this seems to be currently the scenario for the moment.” Those were Sony Pictures Chairman and CEO Tom Rothman’s thoughts tonight when Deadline asked him at the NYC premiere of Apple’s Fly Me to the Moon for his take on
In the wake of Skydance Media’s landmark merger agreement with Paramount Global, Skydance CEO David Ellison acknowledged the need for patience during the road ahead before the deal is expected to close.