The Paramount-Skydance Story may yet have more Twists and Turns

Due to a poor streaming strategy and the deterioration of its linear assets, Paramount has experienced a sharp fall over the past several years. Following everything, chairwoman Shari Redstone has been looking at selling her father's business, although she has turned down most offers. However, Diller attracted additional attention this week, and further negotiations with Skydance resulted in a tentative agreement.

Ellison's unwavering quest: The previous four Mission: Impossible movies were produced by Skydance, which is headed by David Ellison, son of Oracle cofounder Larry Ellison. The younger Ellison had apparently indicated interest in and had completed a previous agreement with Paramount in his quest of a larger media portfolio, but it was eventually rejected.

In a recent development, though, both parties went back to the negotiating table and worked out a contract that is still subject to being trumped by a superior offer within the next forty-five days.

Barry Diller makes another attempt: Thirty years ago, Diller attempted to acquire Paramount but was defeated by Sumner Redstone. Since then, Diller has expressed disapproval on several occasions on the state of the film business, calling Netflix the winners and lamenting the demise of Hollywood and the motion picture industry. However, Diller, who resigned from his position as chairman of a very different Paramount in 1984, is at the very least making news again for mulling a return to his former employer, Paramount.