Entertainment
Skydance Nails Its Long-Awaited Deal for Paramount Global
- Media giant’s board approves merger, ending Redstone reign
- David Ellison’s Skydance, Paramount have negotiated for months
The Paramount Studios in Los Angeles, California.
Photographer: Eric Thayer/BloombergDavid 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.
The agreement, on which final paperwork was pending Sunday night, ends one of the messiest and most dramatic merger deals in recent history. An announcement could come soon, said the people, who asked not to be identified because the meeting was confidential.