1 , 33A well-known name in Hollywood, Paramount Global has seen several transformational decades, leading to its most recent merger and acquisition (M&A) drama. Below is a timeline of key events, culminating in its acquisition by Skydance Media, founded by David Ellison, son of Oracle founder Larry Ellison. (Image: Shutterstock)
2 , 33March 4, 1987: Sumner Redstone's National Amusements Inc acquired Viacom for $3.4 billion, marking the start of a media empire. (Image: Reuters)
3 , 33March 11, 1994: Viacom has acquired control of Paramount Communications for about $10 billion, strengthening its presence in the entertainment industry. (Image: Reuters)
4 , 33September 7, 1999: Viacom announced a $35 billion deal to acquire CBS Corp, further expanding its media holdings. (Image: Reuters)
5 , 33March 16, 2005: Sumner Redstone stunned Hollywood and Wall Street by announcing plans to split Viacom and CBS Corp into separate entities. (Image: Sumner Redstone left/Reuters)
6 , 33December 31, 2005: The split is complete, with Tom Freston taking over as CEO of Viacom and Leslie Moonves leading CBS. (Image: Tom Freston/Reuters)
7 , 33September 5, 2006: Sumner Redstone has removed Tom Freston as CEO of Viacom and appointed Philippe Dauman in his place. (Image: Philippe Dauman/Reuters)
8 , 3316 October 2014: CBS Corp has launched its CBS All Access streaming service, marking a significant move into digital media. (Image: Reuters)
9 , 333 February 2016: Sumner Redstone resigned as chairman of Viacom and CBS Corp amid shareholder pressure over his mental capacity. (Image: Sumner Redstone/Reuters)
10 , 33May 20, 2016: Shari Redstone has begun making changes to the National Amusements Inc (NAI) board that will give her control over Viacom. (Image: Shari Redstone/Reuters)
11 , 3320 August 2016: Viacom has reached a legal settlement over the NAI board battle that resulted in Philippe Dauman stepping down as CEO. (Image: Philippe Dauman/Reuters)
12 , 3312 December 2016: Bob Bakish has been appointed president and CEO of Viacom. (Image: Bob Bakish/Reuters)
13 , 33May 14, 2018: CBS Corp filed suit against NAI and Shari Redstone to block efforts to re-merge Viacom and CBS. (Image: Reuters)
14 , 33September 9, 2018: Leslie Moonves was ousted as chairman-CEO of CBS Corp amid sexual misconduct allegations, following which CBS and NAI reached a settlement. (Image: Leslie Moonves/Reuters)
15 , 33December 4, 2019: Viacom completed a $12 billion deal to reunite with CBS, forming ViacomCBS. (Image: Reuters)
16 , 33August 11, 2020: Sumner Redstone dies at the age of 97, the end of an era. (Image: Sumner Redstone left/Reuters)
17 , 33March 4, 2021: ViacomCBS relaunched its CBS All Access streamer as Paramount+ in line with the brand's global strategy. (Image: Reuters)
18 , 33February 16, 2022: ViacomCBS has officially changed its name to Paramount Global. (Image: Reuters)
19 , 33November 2023: Reports have emerged of Skydance Media's proposed merger with Paramount Global, sparking speculation in the industry. (Image: Shutterstock)
20 , 33January 30, 2024: Byron Allen's Allen Media Group has made a $30 billion offer for Paramount Global, heating up the takeover race. (Image: Shutterstock)
21 , 33Mid-March 2024: Apollo Global Management made an $11 billion bid for Paramount Pictures, complicating negotiations even further. (Image: Shutterstock)
22 , 33April 3, 2024: Paramount Global has agreed to a 30-day exclusive negotiation with Skydance Media, led by David Ellison. (Image: David Ellison/Reuters)
23 , 33April 29, 2024: Bob Bakish has been removed as CEO of Paramount Global and replaced by an 'Office of the CEO' led by George Cheeks, Chris McCarthy and Brian Robbins. (Image: Bob Bakish/Reuters)
24 , 33May 1, 2024: Sony Pictures and Apollo Global Management launched a $26 billion offer for Paramount Global, challenging Skydance's bid. (Image: Reuters)
25 , 33May 3, 2024: Exclusive talks between Paramount Global and Skydance Media ended without an agreement, adding to the uncertainty. (Image: Shutterstock)
26 , 33Beginning June 2024: Edgar Bronfman Jr. showed interest in National Amusements with the backing of Bain Capital. Producer Steven Paul also showed interest in buying NAI. (Image: Edgar Bronfman Jr./Reuters)
27 , 33June 11, 2024: NAI ended talks with Skydance Media, citing an inability to reach mutually acceptable terms for a merger. (Image: Shutterstock)
28 , 33July 3, 2024: Skydance Media has reached a preliminary merger agreement with Paramount, reviving the deal and sending Paramount Global's shares soaring. (Image: Shutterstock)
29 , 33July 8, 2024: Paramount Global has agreed to merge with Skydance Media, handing control of the Hollywood studio to David Ellison. (Image: David Ellison/Reuters)
30 , 33August 13, 2024: Paramount has begun laying off staff and closing a TV production studio as part of a sweeping restructuring under new ownership. (Image: Shutterstock)
31 , 33August 19, 2024: Edgar Bronfman Jr placed a $4.3 billion bid for National Amusements but soon raised it to $6 billion, sparking a bidding war. (Image: Edgar Bronfman Jr/Reuters)
32 , 33August 23, 2024: Skydance Media has accused Paramount of violating merger terms by continuing talks with Bronfman's group. (Image: Shutterstock)
33 , 33August 27, 2024: With Bronfman out, Skydance Media is set to finalise a merger with Paramount, bringing an end to the acquisition spree. Paramount has confirmed that it hopes to complete the deal with Skydance by the first half of 2025, marking the end of the long-running M&A saga. (Image: Shutterstock)