 Paramount Global, agreeing to merge with production company Skydance Media, opens a new chapter for the Hollywood studio. Silvana Anao has the story. The deal, which was approved by a special committee of Paramount board members, will see Skydance by Paramount's controlling shareholder National Amusement. It will then merge Skydance with Paramount. This move ends a nearly four-decade run by the Redstone family as power players in the media industry.