After months of negotiations, Shari Redstone walked away from a tie-up with SkyDance. Here’s how a plan to reshape the media conglomerate broke apart.

What will Shari Redstone do now with Paramount?Mike Blake/ReutersWhy Redstone backed out

For months, Skydance Media’s effort to merge with Paramount — the studio behind “Mission: Impossible” and “Top Gun” — was the most-discussed M.&A. matter on Wall Street and in Hollywood. Now it has fallen apart.

What happened? The simple answer: Shari Redstone, who controls Paramount through the holding company National Amusements, just didn’t want to sell, according to DealBook’s Lauren Hirsch, who covered the talks with The Times’s Ben Mullin.

A deal was very close. Advisers for Paramount and Skydance had reached agreements on economic terms for a transaction and on other issues.

But the talks soured toward the end, and a fundamental question hovered over everything: Was

Keep reading this article on Andrew Ross Sorkin – Author New York Times.

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