Paramount and Skydance Move Towards Mega Media Merger Led by Redstone and Ellison

Paramount Global and National Amusements moving closer to exclusive 30-day talks with Skydance Media for potential acquisition
Deal would involve Skydance acquiring National Amusements, then acquiring publicly traded Paramount Global
Paramount and Skydance have been production partners for 10+ years, familiarity seen as plus
Motivation is Skydance CEO David Ellison and National Amusements' Shari Redstone want to bring companies together
Apollo Global recently bid $11B for Paramount Pictures alone; Redstone wants to keep film/TV assets together for value and legacy