Paramount, Skydance reach tentative merger deal
![Paramount, Skydance reach tentative merger deal](https://thehill.com/wp-content/uploads/sites/2/2023/02/IMG_5984-e1717603579427.jpg?w=900)
Paramount’s parent company, National Amusements, has come to a tentative deal on a possible merger with media conglomerate Skydance.
Paramount had previously reportedly stopped talks with Skydance on a merger and news about talks crumbling came out mid-last month. However, according to a Tuesday report from CNBC, sources said that a preliminary deal which has been referred to a Paramount committee has come together. That deal is being reviewed and voted on by that committee, according to a source.
Paramount had been on the hunt for a potential buyer amid questions about its financial health from Wall Street and those watching the media industry. It also recently committed to cutting $500 billion from its budget.
With multiple brands, including CBS, MTV and Comedy Central, under its umbrella, Paramount is one of the most important players in the media field. However, alongside other media companies, it has faced challenges with linear broadcast viewership and the advertising market.
Paramount and National Amusements declined to comment. The Hill has reached out to Skydance.
Story was updated at 10:58 p.m. EDT
Date: |
Filter
-
The Guardian - World
Paramount and Skydance squeak closer to merger deal
Shari Redstone walked away last month, but returned to the table with her National Amusements company. Paramount Pictures appears to be closer to finalizing a proposed multibillion-dollar merger, weeks after its controlling shareholder walked away ... -
MarketWatch - Business
Paramount stock and bonds snapped up on report deal with Skydance is back on
The deal between Shari Redstone and Skydance Media that was scrapped a few weeks ago has been revived -
Los Angeles Times - Entertainment
So the Paramount and Skydance deal is back on track. What happened and what's next?
After Shari Redstone nixed David Ellison's proposed takeover, the tech scion and his partners continued to work to win over the Redstone family. -
ESPN - Sports
Sources: LeBron reaches deal to stay with Lakers
LeBron James has agreed to a two-year, $104 million maximum contract to return to the Lakers, sources told ESPN, on a deal includes a player option for the 2025-26 season and a no-trade clause.NBA -
ESPN - Sports
Sources: Ingles, Timberwolves reach 1-year deal
Joe Ingles has reached a one-year agreement with the Timberwolves, where he'll join former Jazz teammates Rudy Gobert and Mike Conley, sources told ESPN. -
Inc. - Business
How to Reach Peak Mental Performance as an Entrepreneur
In the fast-paced world of entrepreneurship, mental peak performance is essential. -
ABC News - Sports
Coco Gauff and Carlos Alcaraz advance at Wimbledon. Naomi Osaka loses
Coco Gauff has reached the third round at Wimbledon with a 6-2, 6-1 victory over qualifier Anca Todoni of Romania -
CBS News - Top stories
Hurricane Beryl reaches Jamaica's coast as Category 4 storm
Hurricane Beryl, now a Category 4 storm, has reached the coast of Jamaica as residents prepare for the powerful system that has already battered parts of Grenada and other Caribbean islands. CBS News' Tom Hanson reports from Montego Bay, and ... -
The Guardian - World
Jannik Sinner outplays and outfoxes Berrettini to reach third round
World No 1 beats fellow Italian 7-6 (3), 7-6 (4), 2-6, 7-6 (4)Carlos Alcaraz beats Aleksandar Vukic in straight setsMatteo Berrettini’s run through the Wimbledon draw to his maiden grand slam final in 2021 felt like a significant moment. Even ... -
The Guardian - World
The Mariners have never reached a World Series. Fans hope for a drought’s end
Seattle are sitting atop the American League West but the team’s ambitions have been dashed plenty of times before. Billy Mac remembers being in the broadcast booth in 2019 when Félix Hernández pitched his final game for the Seattle Mariners. ...
More from The Hill
-
The Hill - Politics
7 reasons why Biden and Trump are national security risks
Biden's debate performance and Trump's indictment for violating the Espionage Act, as well as the Trump Organization's new foreign projects and the Supreme Court's immunity decision, all pose significant national security risks for the United States.Joe Biden -
The Hill - Politics
Morning Report — Can Biden stay in the race?
Still reeling from a disastrous presidential debate performance, President Biden will be spending the coming week trying to prove to voters — and fellow Democrats — that he’s the right person for the presidential ticket in November. Biden and his ...Joe Biden -
The Hill - Politics
Nvidia's rapid rise hits 'bumps in the road'
After blowing past a $3 trillion market capitalization and briefly becoming the most valuable company in the world last month, Nvidia has lost and regained hundreds of billions of dollars in value in recent days. While the chipmaker’s volatility ... -
The Hill - Politics
Supreme Court’s weakening of public corruption safeguards sparks alarm
Ethics and legal experts warn that the Supreme Court has struck a serious blow to prosecutors’ ability to crack down on the abuse of power and public corruption. And that’s ringing alarm bells when Donald Trump, who was convicted in May by a ... -
The Hill - Politics
Biden leans on family with political future at risk
President Biden is increasingly leaning on his family while navigating calls from fellow Democrats to end his 2024 candidacy. Jill Biden and Hunter Biden serve as some of the president’s closest inner circle of confidants with a public focus ...Joe Biden