Paramount Global, a renowned Hollywood company, has finalized a merger with independent film studio Skydance, severing ties with the Redstone family. The deal, valued at $28bn, marks the end of six months of negotiations and includes an $8bn investment from Skydance. This move comes after Shari Redstone, Paramount's chair, approved the sale of her family's controlling stake. Skydance, led by David Ellison, will also acquire National Amusements, a major theater operator owned by the Redstones. The partnership promises to fortify Paramount amidst industry changes, with a focus on content being paramount. Both sides express enthusiasm for the future of Paramount, emphasizing innovative technology and creative vision. This strategic merger aims to elevate Paramount's position and ensure continued success in a rapidly evolving entertainment landscape.