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International Business Times

Business

Kiran Tom Sajan

It's Official: Skydance Media And Paramount Global Announce Merger In Groundbreaking Deal

Paramount Skydance Paramount Global Shari Redstone Skydance Media Sumner Redstone David Ellison National Amusements

Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. (Credit: Reuters / DADO RUVIC)

Skydance Media and Paramount Global officially announced Sunday that they are merging.

Shari Redstone, Paramount's non-executive chair, will relinquish the family's controlling stake through a complex transaction that will lead to the merger, according to Reuters.

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