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Headline : Paramount, Skydance to merge and end Redstone family’s reign in Hollywood

Read more from the original article on here at www.aljazeera.com.





Tags : #paramount #skydance #merge #end #redstone #familys #reign #hollywood



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The entertainment giant Paramount will merge with Skydance, closing out a decades-long run by the Redstone family in Hollywood and injecting desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape.

The companies announced their agreement to merge late on Sunday.

They laid out a two-step process through which Skydance and its partners will acquire National Amusements, which holds the Redstone family’s controlling stake in Paramount, for $2.4bn in cash.

Skydance will subsequently merge with Paramount, offering $4.5bn in cash or stock to shareholders and providing an additional $1.5bn for Paramount’s balance sheet.

Read more from the original article on here at www.aljazeera.com.


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