Wat-Not Staff
About Paramount Global
An American multinational conglomerate company named Paramount Global, formed through the merger of CBS Corporation and Viacom Inc. in 2019. The company has a major presence globally through various channels and has been trying to expand its channels to compete with other medias.
Divisions and Brands
Paramount Company consists of various brands across different media and entertainment sectors. The key divisions are Paramount Pictures,CBS Entertainment group, MTV Entertainment group, Nickelodeon Group, Bet Network, Showtime Network, Paramount Streaming and International Networks, including shows like: The Big Bang Theory, Homeland, Spongebob, Halo.
Merger with Skydance media
Paramount Global agrees to merge with Skydance media. Skydance media is an independent American media company famous for its various television and animation shows.
According to recent reports, Mr. Redstone said “ Our hope is that the Skydance transaction will enable Paramount’s continued success in this rapidly changing environment.” Under the agreement, Mr. Redstone will sell his major family stake that will result in a formation of a new firm worth around $28bn.
It is expected that the deal will close by the summer next year. under the deal, Sky Amount will
invest around $8bn in Paramount, including paying $2.4bn for national Amusements
Their significant partnership will have a major impact globally and in the entertainment industries as they are expected to work together in films like “Mission: Impossible” and “Top Gun” to expand their market presence.
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