National Amusements Ends Merger Talks with Skydance Media; Paramount Shares Drop

Jun 11, 2024, 08:09 PM

Shari Redstone's National Amusements has decided to end discussions with David Ellison's Skydance Media regarding a potential merger with Paramount Global. The decision, confirmed by multiple sources including the Wall Street Journal, marks the conclusion of months-long negotiations. Reports indicate that the termination of talks has led to a decline in Paramount Global's stock price, with shares trading lower under the ticker $PARA. Redstone had also offered to sell a stake in Paramount's owner for $2.25 billion. The end of these discussions has captivated Hollywood, as the merger was highly anticipated within the industry.