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Paramount and Skydance Merge to Forge a New Future for Hollywood Studio

Atter much deal making, the Paramount and Skydance Merger has been completed with the Redstone family passing the future for Hollywood Studio to the Ellison family, founders of Oracle software.

The entertainment giant Paramount will merge with Skydance, closing out a decades long run by the Redstone family in Hollywood and injecting desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape.

It also signals rise of a new power player, David Ellison, the founder of Skydance and son of billionaire Larry Ellison, the founder of the software company Oracle.

With the baton passing, there is more money to put into the studio with Silicon Valley billionaires backing the new organization. It is not known, what and or how this till effect the ongoing Transformers productions at this time. However, if things continue with the Transformers movies the way they have, no one will notice or care. Sorry, Lorenzo!

Read the full news story now on Associated Press

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