Paramount and Skydance Merge

Paramount Pictures is set to merge with Skydance Media, marking the end of the Redstone family's decades-long reign in Hollywood. Shari Redstone's National Amusements has owned over three-quarters of Paramount's Class A voting shares and had been battling to maintain control of the company that owns CBS. The merger signals the rise of a new power player, David Ellison, founder of Skydance Media. According to reports, Redstone and Ellison negotiated for some time before finalizing the deal. However, Paramount has 45 days to find a better offer, leaving open the possibility of another business plot twist.