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This just in tonight from Skydance Boss David Ellison as Paramount Global controlling shareholder Shari Redstone says "No" to Skydance's offer to buy National Amusements.
NEW YORK (AP) — National Amusements, which owns a majority voting stake in embattled entertainment giant Paramount Global, said Tuesday that it has ended talks on a possible merger of
National Amusements, which owns a majority voting stake in the embattled entertainment giant Paramount Global, says it has ended talks on a possible merger of Paramount with movie production company Skydance Media.
National Amusements ends talks on Paramount-Skydance merger, citing inability to reach terms. Concerns over Paramount's future due to debt and declining TV business. Skydance, led by David Ellison, has produced hits for Paramount like 'Top Gun: Maverick' and 'Mission Impossible' series.
Paramount co-CEOs tell staff their strategic plan is underway.