Skydance Media, headed by David Ellison, has received a crucial vote of approval for its proposed acquisition of Paramount Global controlling shareholder National Amusements Inc., following seven months of negotiations. The deal was endorsed by a special committee of Paramount's board of directors, with a formal announcement expected soon. The agreement includes a 45-day “go-shop” provision for alternative offers, with Apollo Global Management among those interested. Redstone and her family are set to receive $1.75 billion, with additional funds for Paramount debt repayment. Skydance's strategic vision aims to maintain Paramount's portfolio, including CBS, Nickelodeon, and Paramount+. The merger would result in significant cost-cutting, reflecting Redstone's preference for Skydance over other suitors. Despite hurdles, including Redstone's past reversal, the deal signifies a pivotal moment for Paramount amidst industry challenges and restructuring efforts.