 The lengthy drama over the future of Paramount Global is over. Paramount has agreed to merge with Skydance Media in a complex deal. The new firm will be worth around $28 billion. The combined company will be headed by producer David Ellison. Eli Lilly agrees to buy U.S. biopharma company Morphic Holding for about $3.2 billion to gain experimental therapies for inflammatory bowel disease and other chronic illnesses. Lilly will pay $57 a share for the Massachusetts-based company.