Avatar: The Last Airbender

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Paramount Acquisition Deal Falls Through (www.axios.com)

submitted 5 months ago by brucethemoose@lemmy.world to c/avatar@lemmy.world

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Supposedly for petty personal reasons:

The woman who controls the company, Shari Redstone, snatched defeat from the jaws of victory last week as she scuttled a planned merger with David Ellison's Skydance Media.

Redstone had spent six months negotiating a complicated deal that would have given control of Paramount to Ellison and RedBird Capital, only to call it off as it neared the finish line.

The chief reason for her decision: Her reluctance to let go of a family heirloom she fought very hard to get.

The fandom doesn't want to talk about it, but the Avatar franchise is in trouble.

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[–] ccunning@lemmy.world 6 points 5 months ago (1 children)

The fandom doesn't want to talk about it, but the Avatar franchise is in trouble.

Paramount own’s the franchise?

[–] brucethemoose@lemmy.world 9 points 5 months ago* (last edited 5 months ago) (1 children)

Yep. The full chain is Paramount Global -> Paramount Media Networks -> Nickelodeon Group -> Nickelodeon Animation Studio -> Avatar Studios, and all of Nick's other animation (like Spongebob) is grouped under Nickelodeon Digital (under Nickelodeon Animation Studio)

The way I see it, Avatar Studios is prime material to cut.

[–] ccunning@lemmy.world 4 points 5 months ago

I had no idea. Thanks!

[–] Blaze@reddthat.com 3 points 5 months ago (1 children)

Oh crap, thanks for sharing

[–] brucethemoose@lemmy.world 4 points 5 months ago* (last edited 5 months ago)

Indeed. FYI the article acts like the Sony deal is dead too and the next step for Redstone is selling off her movie theater franchise.

Redstone will now likely pursue a sale of just National Amusements, without trying to merge Paramount, the Journal said, citing sources.