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Paramount Agrees to Merger With Skydance, Ending Redstone Family’s Reign
Paramount agrees to a merger with Skydance, closing out a decades long run by the Redstone family in Hollywood.
Skydance, based in Santa Monica, California, has helped produce some major Paramount hits in recent years, including Tom Cruise films like “Top Gun: Maverick” and installments of the “Mission Impossible” series. Sumner Redstone used National Amusements, his family’s movie theater chain, to build a vast media empire that included CBS and Viacom, which have merged and separated a number of times over the years. It is a company with a rich history, as well as a deep bank of media assets, ankd Skydance wasn’t the only one to gun for Paramount in recent months — Apollo Global Management and Sony Pictures also made competing offers.
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