Streaming-era upstart Skydance Media began scripting a new chapter on Monday for Paramount Global (PARA.O , opens new tab, the day after reaching a deal to acquire one of Hollywood's oldest studios, home of "SpongeBob SquarePants" and "The Godfather."
In a two-step process, Skydance and its deal partners will acquire National Amusements, which holds the Redstone family's controlling stake in Paramount, for $2.4 billion in cash.
