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Paramount tycoon Shari Redstone pulls the plug on proposed Skydance merger
Firms unable to reach agreed upon terms amid speculation over future of the media empire behind CBS and MTV
National Amusements, the vehicle that owns Shari Redstone’s controlling stake in Paramount, said it had been unable to reach mutually acceptable terms with Skydance Media. Redstone, the firm’s controlling shareholder and chair, has spent months considering whether to sell her stake, and drew a line under her family’s decades-long stewardship of Paramount. Paramount Global, formed when CBS merged with Viacom in 2019, has been hit hard by the decline of cable TV, and the high cost of entering the streaming wars.
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