Hollywood studio Paramount agrees $28bn merger with Skydance

End to Redstone family’s involvement in media group, which also owns CBS, Nickelodeon and the UK’s Channel 5Business live – latest updatesParamount Global, one of Hollywood’s best-known companies, has agreed to a merger with independent film studio Skydance, in a deal that ends its links with the Redstone family.The Paramount chair, Shari Redstone, whose father, Sumner, bought the company in 1994, has given the green light to the sale of the family’s controlling sta