{"id":90016,"date":"2024-07-08T06:09:11","date_gmt":"2024-07-08T06:09:11","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/08\/hollywood-icon-paramount-agrees-merger-deal\/"},"modified":"2024-07-08T06:09:11","modified_gmt":"2024-07-08T06:09:11","slug":"hollywood-icon-paramount-agrees-merger-deal","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/08\/hollywood-icon-paramount-agrees-merger-deal\/","title":{"rendered":"Hollywood icon Paramount agrees merger deal"},"content":{"rendered":"
\"Hollywood<\/div>


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One of Hollywood’s oldest studios, Paramount Global, has agreed to merge with production firm Skydance Media.<\/p>\n

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 merger.<\/p>\n

It marks the end of an era for Redstone family, whose late patriarch, Sumner Redstone, transformed a chain of drive-in cinemas into a vast media empire.<\/p>\n

As well as Paramount, the group includes the television networks CBS, Comedy Central, Nickelodeon and MTV.<\/p>\n

According to the company its TV channels have a global reach of over 4.3 billion subscribers across more than 180 countries. <\/p>\n

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.<\/p>\n

Paramount Global traces its origins back more than a century to the founding of Paramount Pictures Corporation in 1914.<\/p>\n

The studio has made many hit films, including the Godfather, Star Trek, and Mission: Impossible series.<\/p>\n

But the entertainment giant has struggled over the past decade. Paramount Global’s shares have fallen by more than 75% in the last five years.<\/p>\n

Skydance is owned David Ellison, the son of Larry Ellison, who founded US technology giant Oracle.<\/p>\n

In April, Paramount’s chief executive Bob Bakish left the company after clashing with Ms Redstone over the Skydance deal.<\/p>\n

The deal comes as the global entertainment industry is being transformed by the video streaming video revolution.<\/p>\n<\/div>\n


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One of Hollywood’s oldest studios, Paramount Global, has agreed to merge with production firm 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 merger. It marks the end of an era for Redstone family, whose late […]<\/p>\n","protected":false},"author":2,"featured_media":90017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/6f47\/live\/af006890-3ced-11ef-bfbc-e3f0644de067.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[5254,2294,5289,19738,4168,22930],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/90016"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=90016"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/90016\/revisions"}],"predecessor-version":[{"id":90018,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/90016\/revisions\/90018"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/90017"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=90016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=90016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=90016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}