Paramount Global has been attempting to merge with Skydance Media, facing multiple challenges since 2023, including CEO changes and legal issues. The company started seeking bidders for the BET Media Group and explored merger possibilities with other companies. In July 2024, Paramount agreed to terms with Skydance to create New Paramount, but the deal, valued at $8 billion, remains contingent on government approvals, raising complexities for both companies and the Hollywood ecosystem.
Negotiations surrounding the merger have faced several challenges, including a bidding war, CEO reshuffling, and a lawsuit involving CBS, complicating Paramount's merger with Skydance Media.
The merger, valued at $8 billion, aims to create an entity worth $28 billion, making it crucial for Paramount to gain approval from federal entities to proceed.
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