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Barry Diller hints IAC no longer in race for Paramount deal: report

Media mogul Barry Diller indicated Friday that his company, IAC, has withdrawn from the race to buy Paramount Global, CNBC reported Friday. “It’s hard to predict, but for us it’s over,” said the chairman and senior executive of the New York-based digital media conglomerate, which owns brands such as Dotdash Meredith, Care.com and The Daily […]

Paramount shareholder sues to block Shari Redstone’s deal with Skydance

Paramount Global investors have filed a lawsuit to block the merger with Skydance Media, arguing it would cost shareholders $1.65 billion, according to a lawsuit filed Wednesday in Delaware Chancery Court. David Ellison’s Skydance Media closed on a deal to buy Paramount in early July, ending months of discussion and speculation about the future of […]

Paramount, AI, and Disney — and why Warren Buffett won’t be there

Idaho’s Sun Valley Resort is set to host Allen & Company’s annual Billionaires’ Summer Camp this week, drawing the usual crowd of media, tech and business heavyweights. Though the invitation-only events, held on the lodge’s sprawling grounds, are kept a closely guarded secret from the public, the annual conference has traditionally been a hotbed of […]

Paramount and Skydance Merge, Signaling End of Redstone Family’s Reign in Hollywood

NEW YORK (AP) — Entertainment giant Paramount is merging with Skydance, ending the Redstone family’s decades-long run in Hollywood and injecting badly needed cash into the long-established studio that has struggled to adapt to a changing entertainment landscape. It also signals the rise of a new strongman: David Ellison, the founder of Skydance and son […]

Skydance CEO David Ellison — and scandal-scarred media exec Jeff Shell — signal $2B in cost cuts for Paramount

Skydance boss David Ellison and scandal-plagued media executive Jeff Shell have hinted at massive cost-cutting measures at Paramount Global as the two companies merge. Ellison, the son of tech mogul Larry Ellison, whose Hollywood production company produced “Top Gun: Maverick” and “Mission: Impossible: Dead Reckoning,” said Monday that he expects Paramount to make more than […]