Paramount and Skydance are approaching a merger agreement

Another day in Hollywood, another merger. This time it is Paramount and Sky Dance.

The two companies, which have been negotiating for several months, have agreed on the general terms of the merger, although the agreement is not yet final. News of the interim agreement was reported by CNBC on Monday.

The deal is currently being considered by Paramount's controlling shareholder, Shari Redstone, whose National Amusements owns more than 75% of Class A Paramount shares.

Skydance is run by David Ellison, whose father, Oracle co-founder Larry Ellison, has a net worth ofて1480 billion and is the 5th richest person on Earth. Sky Dance's investors include private equity firms RedBird Capital and KKR, as well as Ellison's father. Skydance's current offer is about880 billion, of which aboutー20 billion will be in National Amusements and aboutー4.5 billion will be about 50 percent of the class B Paramount stake. An extra 現金1.5 billion in cash would go to reduce Paramount's long-term debt, which currently stands at about stands15 billion.

Paramount Global owns Paramount Pictures, Nickelodeon, MTV, Comedy Central and Pluto TV among others. See this cartoon brewing story for a closer look at their animated holdings.

Additional details on pending mergers can be read in the Wall Street Journal, Deadline, and the New York Times.