CHATTER AWAY: Overnight Open Thread

ABC News reports:

The entertainment giant Paramount will merge with Skydance, closing out a decades-long run by the Redstone family in Hollywood and injecting desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape.

It also signals the rise of a new power player, David Ellison, the founder of Skydance and son of billionaire Larry Ellison, the founder of the software company Oracle.

Shari Redstone’s National Amusements has owned more than three-quarters of Paramount’s Class A voting shares through the estate of her late father, Sumner Redstone. She had battled to maintain control of the company that owns CBS.

Read the full article.

WATCH: Skydance Media and Paramount Global have agreed to merge, the companies announced, opening a new chapter for one of Hollywood’s oldest studios https://t.co/6apboomH6y pic.twitter.com/EYWI4oWfbP

— Reuters Business (@ReutersBiz) July 8, 2024

David Ellison, son of billionaire Oracle founder Larry Ellison, and his investors are blaring the message that the new Paramount will be a “confluence of art, first and foremost, working hand in hand with technology.” https://t.co/RQmn5x9N0Q

— Todd Spangler (@xpangler) July 8, 2024

Scoop: Larry Ellison investing $6 billion into Paramount deal
w @danprimack https://t.co/e75iN1vJBN

— Sara Fischer (@sarafischer) July 8, 2024