Paramount Global, the owner of Paramount Pictures and CBS, will merge with a media company founded by David Ellison.
The turbulent courtship between Paramount Global-parent National Amusements and Skydance Media is back on less than a month after the sides abruptly ended merger talks.Paramount, owner of Paramount Pictures movie and television studios, the CBS television network and CBS News, announced in a news release late Sunday that it is merging with Skydance, an entertainment business founded by David Ellison, son of Oracle founder Larry Ellison.
In recent years, that effort has focused on growing Paramount's streaming footprint, along with the continued expansion of its core network TV, cable and movie businesses. '1987, my father, Sumner Redstone, acquired Viacom and began assembling and growing the businesses today known as Paramount Global,' Shari Redstone said in a statement. 'He had a vision that 'content was king' and was always committed to delivering great content for all audiences around the world.
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