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David Ellison‘s Skydance Media has announced it and its backers will invest $8 billion in a takeover of Paramount Global, capping a seven-month quest.

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Apple TV+ Cancels ‘The Big Door Prize’ After Two Seasons

Michael Schneider Variety Editor at Large The Morpho machine is shutting down. Apple TV+ has canceled “The Big Door Prize” after two seasons, Variety has confirmed. The series, from Skydance Television and CJ ENM/Studio Dragon, ended its Season 2 run on June 12.

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‘The Big Door Prize’ Canceled After 2 Seasons By Apple TV+

Chris O’Dowd and the residents of Deerfield will not be back for new adventures after Apple TV+ opted not to renew the series for a third season, Deadline has confirmed.

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‘Neuromancer’: Briana Middleton Joins Callum Turner In Apple TV+ Series

EXCLUSIVE: Briana Middleton (Sharper) has been tapped as the co-lead opposite Callum Turner in Neuromancer, Apple TV+‘s new sci-fi drama based on the award-winning novel by William Gibson.

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With Paramount Assets In Play, There’s Chatter About A Sale & Leaseback Of Its Hollywood Lot

Paramount Global is pushing ahead with asset sales and bankers are in the house as it sets out to streamline and raise cash to pay down debt. Its three co-CEOs confirmed as much Tuesday at a company town hall with staff.

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Paramount Global Co-CEOs Reveal Bankers Hired To Sell Assets; Discuss Path Forward At Town Hall

After rejecting Skydance’s offer to merge two weeks ago, Paramount Global new co-CEO troika of Brian Robbins, George Cheeks and Chris McCarthy told a packed company town hall of 500 at the studio’s Melrose Lot Paramount Theater what progress has been made since the annual shareholders meeting three weeks ago, and what the company’s path will be going forward. In sum, bankers have been hired to explore the sale of “certain Paramount owned assets” per Cheeks, while layoffs are on the horizon as the conglom looks to achieve a half billion in cost savings.

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Mark Walhberg & Paul Walter Hauser To Star In Amazon MGM Action Comedy ‘Balls Up’ From Peter Farrelly

EXCLUSIVE: Mark Wahlberg (The Family Plan) and Paul Walter Hauser (The Instigators) are set to team on Balls Up, an action comedy that Peter Farrelly will direct for Amazon MGM Studios.

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What Went Wrong: Inside Paramount’s Failed Merger Talks and the Battle to Salvage the Company

Shari Redstone, it was nothing personal. But the longer the negotiations went on, the more Redstone fell out of love with the idea of marrying her family’s legacy to David Ellison’s Skydance Media. So on June 11, as board members of Paramount Global were about to hold a key meeting on the long-gestating deal to merge with Skydance, Redstone was out — even as those around her were still scrambling to get it done.

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Zazie Beetz To Star In ‘They Will Kill You’, First Film From The Muschiettis’ Horror Label Nocturna

EXCLUSIVE: We can tell you first that Joker and Deadpool 2 actress Zazie Beetz has signed on to headline They Will Kill You, the first feature from Nocturna, the horror label formed this year by Skydance and Andy & Barbara Muschietti.

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Paramount CEOs Recognize “The Last Several Months Have Not Been Easy,” Tell Staff They Have A Plan

Paramount co-CEOs George Cheeks, Brian Robbins and Chris McCarthy thanked staff in a memo today, obtained by Deadline, for a few tough months rocked by Skydance merger speculation. With that deal a no go, they said, they have plan, one mostly laid out at last week’s annual shareholders meeting, to take the company into the future.

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After Paramount Merger Talks Collapse, Skydance CEO David Ellison Tells Staff: ‘We Are Stronger Because of This Process’

Todd Spangler NY Digital Editor David Ellison, chief executive of Skydance Media, thanked employees of his company for their focus as he was engaged in a months-long bid to merge with Paramount Global. And even though that effort failed, he said that Skydance is stronger after having gone through the M&A cycle.

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David Ellison Thanks Skydance Team As Paramount Merger Talks End; Sets Sights On “Building A Next Generation Content Company On Our Terms”

This just in tonight from Skydance Boss David Ellison as Paramount Global controlling shareholder Shari Redstone says “No” to Skydance’s offer to buy National Amusements. The Top Gun: Maverick and Geostorm producer has acknowledged to staff that Skydance’s bid to merge with Paramount has ended.

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Shari Redstone, Paramount End Merger Talks With Skydance As Two Sides “Not Able To Reach Mutually Acceptable Terms”

After months of negotiations, Paramount‘s controlling shareholder Shari Redstone has broken off merger talks with David Ellison‘s Skydance.

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Shari Redstone’s National Amusements Says It Has Ended Talks With Skydance About Paramount Merger

Todd Spangler NY Digital Editor After more than six months of on-again-off-again talks, Shari Redstone has ended negotiations with David Ellison‘s Skydance Media about a prospective merger with Paramount Global. Redstone is Paramount Global’s controlling shareholder through National Amusements Inc., which owns 77% of the voting shares in Paramount.

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Paramount Grants Three Co-CEOs Change-in-Control Severance Benefits, Cash Bonuses

Todd Spangler NY Digital Editor As an M&A event looms on the horizon for Paramount Global, the three execs in the conglomerate’s “Office of the CEO” are now eligible for stepped-up severance payments in the event of a sale or merger — and the company also will award them cash bonuses for the time they serve as co-CEOs. The move comes as Shari Redstone, Paramount’s controlling shareholder, is evaluating a merger offer from David Ellison’s Skydance Media, which the Paramount Global board’s special committee has recommended.

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Paramount’s Shari Redstone Juggling Skydance, Other Suitors As Deal Saga Continues

Shares of Paramount Global edged lower Thursday, day three in the red, amid lingering uncertainty around Skydance’s latest offer. With bigger than anticipated sweeteners for Class B shareholders, it was approved by Par’s special board committee and sent on to controlling shareholder Shari Redstone but with no announcement forthcoming.

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CBS Chief George Cheeks Talks Paramount Global Uncertainty, Traction for ‘Tracker’ and the Future of Broadcast TV

Cynthia Littleton Business Editor Paramount Global has a strong future ahead of it and so does broadcast television, despite the uncertainty that has enveloped Hollywood in general and Paramount in particular. That was the message sent Thursday by CBS chief George Cheeks, who last month was also tapped as one of three CEOs to steer Paramount Global through a period that is sure to be challenging no matter what happens with the company.

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Timothy Olyphant To Voice Terminator In Animated Netflix Series

Netflix has found the voice of its Terminator.

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Amid Skydance Offer, Paramount Global CEO Trio Trumpet 14 Billion Dollar Brands, Plans To Explore Streaming Joint Ventures

As Paramount Global controlling shareholder Shari Redstone mulls the terms of a merger between her conglom and Skydance, the network/studio/streaming service trotted out their best and brightest CEO troika this early AM in annual global stockholders meet to tout their hit parade of 14 billion dollar revenue earning franchises across all mediums, their assurance to cut $500 million in overhead, and maximize shareholder value and profits.

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Paramount, Skydance Agree on New M&A Deal Terms but Shari Redstone Hasn’t Approved Pact Yet

Todd Spangler NY Digital Editor Paramount Global‘s months-long M&A drama may soon be coming to a conclusion. The special committee established by Paramount Global’s board of directors to evaluate M&A proposals has reached an agreement with David Ellison’s Skydance Media and his private-equity backers on the terms of a complicated deal that would merge Skydance and Paramount while keeping Paramount publicly traded, Variety has confirmed. Skydance and its partners, RedBird Capital and KKR, sweetened the original buyout offer to make it more attractive to nonvoting shareholders of Paramount Global.

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Skydance Media Revises Paramount Global Bid to Make It More Attractive to Noncontrolling Shareholders

Todd Spangler NY Digital Editor After months of on-again-off-again haggling, Skydance Media submitted a newly revised offer for Paramount Global. The revised bid would reduce the amount Skydance and its financial partners would pay Shari Redstone, Paramount’s controlling shareholder, and reallocate that more equitably to the company’s nonvoting Class B shareholders, Variety has confirmed. Skydance would also put in more cash upfront to swing the deal, sources said.

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