National Amusements ends Paramount merger talks with Skydance Media

Merger discussions between National Amusements, which controls Paramount Global, and Skydance Media have ended without a deal.

The two companies "have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI," National Amusements said in a statement to CBS News.

The announcement ends months of speculation that National Amusement's controlling shareholder, Shari Redstone, was orchestrating a merger between Paramount Global, the owner of the Paramount movie studio and of CBS News, and Skydance, an entertainment business founded by David Ellison, the son of Oracle founder Larry Ellison.