For some time now a merger between Paramount and various parties has been contemplated, with the legacy studio’s fate hanging in the balance. But nothing has seemed certain, even with a massive offer from Sony being on the table. At least, that was the case before today, as it appears that a merger is moving forward, and the other party involved seems to be the best case suitor for the legacy Hollywood studio.
Per reporting from CNBC, both Paramount and Skydance have agreed to a merger between both of their companies, in a deal supposedly valued at $8 billion. Apparently, the final step that seems to be in the works is approval from Shari Redstone, the controlling shareholder of Paramount Pictures.
With the company’s annual shareholder meeting set to take place tomorrow, the clock would seem to be ticking on this promising development. Both halves of this new corporate entity stand to benefit from joining together; especially when taking into account some key factors of the modern entertainment landscape.
More to come…