End to Redstone family’s involvement in media group, which also owns CBS, Nickelodeon and the UK’s Channel 5
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Paramount Global, one of Hollywood’s best-known companies, has agreed to a merger with the 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 stake in the company behind classic films such as The Godfather, Titanic and Breakfast at Tiffany’s.
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