Paramount Global to merge with Skydance Media
CBSN
The turbulent courtship between Paramount Global-parent National Amusements and Skydance Media is back on less than a month after the sides abruptly ended merger talks.
Paramount, owner of Paramount Pictures movie and television studios, the CBS television network and CBS News, announced in a news release late Sunday that it is merging with Skydance, an entertainment business founded by David Ellison, son of Oracle founder Larry Ellison. Paramount also owns the Paramount+ streaming service, Nickelodeon, BET, MTV, Comedy Central and other media brands.
The transaction resolves months of speculation around the future of Paramount, which also reportedly attracted a $26 billion bid from a consortium including Sony Pictures and private equity firm Apollo Global Management. A range of prominent media and entertainment industry executives were also said to have expressed interest in a possible deal for Paramount.
Teen admits she cut off tanker that spilled chemical in Illinois, killing 5 people: "Totally my bad"
A federal report on a tanker-truck crash a year ago in central Illinois that spilled a toxic chemical and killed five people includes an interview with a 17-year-old Ohio girl who concedes that the truck was forced off the road when she passed it with the minivan she was driving.