Paramount Global board approves plan to merge with Skydance Media, source says

Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Paramount Global’s board of directors Sunday approved a merger with Skydance Media, endorsing a deal that would combine one of Hollywood’s oldest studios with the up-and-coming production company, a source close to the deal told Reuters.

A final agreement could be announced as soon as Sunday night.