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Hollywood studio Paramount agrees $28bn merger with Skydance
End to Redstone family’s involvement in media group, which also owns CBS, Nickelodeon and the UK’s Channel 5
Paramount Global, one of Hollywood’s best-known companies, has agreed to a merger with independent film studio Skydance, in a deal that ends its links with the Redstone family. Paramount and Skydance have partnered on several recent big releases, including Top Gun: Maverick, Mission: Impossible – Dead Reckoning and Star Trek Into Darkness. The deal is backed by several private equity firms, including RedBird Capital Partners, which walked away from a joint bid with the UAE government to buy Telegraph Media Group in April, saying new legislation meant the acquisition was “no longer feasible”.
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