Paramount’s parent company, National Amusements, has reached a tentative agreement about a possible merger with media conglomerate Skydance, according to multiple sources. multiple outlet report.
Paramount had previously reported that it had called off merger talks with Skydance, with news of the deal collapsing last month. But CNBC reported on Tuesday that a tentative agreement had been reached that had been submitted to a Paramount committee, according to people familiar with the matter. The deal has been reviewed and voted on by the committee, the people said.
Paramount has been searching for a potential buyer amid questions about its finances from Wall Street and media industry watchers and its recent decision to cut $500 million from its budget.
Paramount is one of the most important players in the media world, with brands including CBS, MTV and Comedy Central under its umbrella, but like other media companies it faces challenges with linear viewership and the advertising market.
Paramount declined to comment. The Hill has contacted National Amusements and Skydance.
