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A deal between Paramount Global and Skydance Media could see the media conglomerate acquire the independent studio in an all-stock transaction valued at around $5 billion, the Wall Street Journal reported on Friday.

Under the terms being discussed, National Amusements, which controls Paramount, would receive over $2 billion in cash in the first step of the transaction, according to the report.

Separately, Skydance could provide a substantial cash infusion to Paramount, owner of the Paramount Pictures film studio, to bolster its balance sheet and help pay down debt, the Journal said, citing people familiar with the matter.

Paramount and Skydance did not respond to Reuters’ request for comment on the WSJ report outside business hours.

National Amusements and its controlling shareholder Shari Redstone could not be contacted immediately.

Members of Paramount’s board agreed to enter into exclusive merger talks with Skydance Media, favoring the independent studio over a $26 billion offer from private equity firm Apollo Global Management, Reuters reported on Wednesday.

By merging the two companies, the combined entity would have much more flexibility around what it could do with those franchises, the WSJ said, adding that Redstone would get cash while investors with nonvoting shares would get stock in the combined company.

The deal talks are more advanced than the offer from Apollo, and if successful, would end Shari Redstone’s control of the media empire built by her father, the late Sumner Redstone.

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The agreement grants Skydance 30 days of exclusive talks with Paramount.

Skydance is led by David Ellison, son of Oracle co-founder Larry Ellison, and is seeking to buy National Amusements which directly or indirectly owns about 77% of Paramount’s voting class stock.

That sale is contingent upon Ellison’s ability to merge Skydance and Paramount Global.

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P Diddy: ‘Gut-wrenching’ video appears to show Sean Combs assaulting singer Cassie in 2016

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P Diddy: 'Gut-wrenching' video appears to show Sean Combs assaulting singer Cassie in 2016

“Gut-wrenching” CCTV footage which appears to show Sean Combs attacking singer Cassie in a Los Angeles hotel “has only further confirmed the disturbing and predatory behaviour” of the rapper, her lawyer has said.

The 54-year-old, whose homes in Los Angeles and Miami were raided by Homeland Security Investigations agents in March, has faced a series of public allegations of physical and sexual violence.

Footage obtained by CNN appears to show Combs also known as P Diddy and Puff Daddy – wearing only a white towel as he punches and kicks Cassie in a Los Angeles hotel hallway on 5 March 2016.

The R&B singer, whose legal name is Cassandra Ventura, was his protege and girlfriend at the time.

Pic: CNN via AP
Pic: CNN via AP
Image:
Pics: CNN via AP

Read more: What is Sean Combs accused of and what has he said?

The footage also shows Combs shoving and dragging her across the floor, as well as throwing a vase in her direction.

It closely resembles the description of an incident at the now-closed InterContinental Hotel in Los Angeles described in a lawsuit filed by Cassie in November that alleged years of sexual abuse and other violence from Combs.

The case was settled the day after it was filed.

Sean Combs and Cassie in 2017. Pic: PA
Image:
Sean Combs and Cassie in 2017. Pic: PA

Several more lawsuits were filed in the following months, along with a federal criminal sex-trafficking investigation that led authorities to raid Combs’ mansions in Los Angeles and Miami.

Representatives for Combs did not immediately comment on the video. He has previously denied the allegations in the lawsuits and his lawyers have said he denies any wrongdoing.

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P Diddy’s homes raided

Cassie’s lawyer said: “The gut-wrenching video has only further confirmed the disturbing and predatory behaviour of Mr Combs.

“Words cannot express the courage and fortitude that Ms Ventura has shown in coming forward to bring this to light.”

According to NBC News, Sky News’ US partner, if Cassie were to make a complaint the LAPD could investigate, but charges would likely be declined by the district attorney because California law has a one-year statute of limitations for assault and the alleged incident happened nearly eight years ago.

CNN did not say how it obtained the video, but noted it verified the location it was shot by comparing the footage to publicly available images of the InterContinental Hotel.

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Steve Buscemi: Homeless man charged over random assault on Hollywood actor in New York City street

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Steve Buscemi: Homeless man charged over random assault on Hollywood actor in New York City street

A homeless man has been charged over the random attack on Hollywood actor Steve Buscemi on a New York Street earlier this month.

The 66-year-old Broadwalk Empire and Fargo star was punched in the face by a stranger while he was walking in midtown Manhattan on 8 May, city police said.

He was taken to hospital with bruising, swelling and bleeding to his left eye but was otherwise fine, his publicist said at the time.

A man wanted in connection with the attack was arrested on Friday, police said.

The 50-year-old homeless man was charged with second-degree assault in the same precinct where Buscemi was attacked.

Authorities announced on Tuesday they had identified the man as the suspect and were searching for him.

Buscemi’s publicist previously said the actor was “another victim of a random act of violence in the city” but he was OK.

Read more from Sky News:
Video appears to show Sean Combs assaulting singer Cassie in 2016

Chris Pratt pays tribute after ‘friend and former stunt double’ dies
Ed Sheeran surprises music students with impromptu gig

The attack came after Buscemi’s Boardwalk Empire co-star Michael Stuhlbarg was hit in the back of the neck with a rock while walking in Manhattan’s Central Park in March.

Stuhlbarg chased his attacker, who was arrested and charged over the incident.

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Anne Robinson confirms relationship with Queen’s ex-husband Andrew Parker Bowles

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Anne Robinson confirms relationship with Queen's ex-husband Andrew Parker Bowles

Former Weakest Link host Anne Robinson has confirmed she is in a relationship with the Queen’s ex-husband Andrew Parker Bowles.

At the end of last year it was reported the 79-year-old TV presenter and 84-year-old retired cavalry officer were dating.

Robinson has now confirmed they are, telling Saga magazine: “Yes. Full stop. Mind your own business.”

The interview comes as it was announced Robinson will take on the role of the publication’s agony aunt from their June issue.

Discussing returning to the dating pool in her 70s, after being single for more than a decade, she told Saga: “I’d been out of the game for so long. And also I don’t drink. If you don’t drink, you’re not as reckless are you?

“I’m a great believer in surprising yourself by taking risks. Personally and professionally. Nothing ventured, nothing gained. If the worst that can happen is you get some egg on your face, that’s not terrible is it?”

Explaining why dating can be easier in older age, she said: “You’re much more selective about what you’re going to get into a tizz about. Nothing matters that much. You’re not going to change.”

Robinson became known for the acerbic comments she made to contestants and her catchphrase “you are the weakest link, goodbye” when she presented the quiz show, which was first broadcast in 2000 before ending 12 years later.

She previously became the first woman to host Channel 4 quiz show Countdown before stepping down in 2022 after having recorded 265 episodes.

Read more from Sky News:
Video appears to show Sean Combs assaulting singer Cassie in 2016

Chris Pratt pays tribute after ‘friend and former stunt double’ dies
Ed Sheeran surprises music students with impromptu gig

She has one daughter, Emma, from her marriage to the late Charles Wilson, a former journalist and newspaper executive, which broke down in 1973. She got divorced from her second husband John Penrose in 2007.

Parker Bowles married Camilla in 1973 and they had two children together, Tom and Laura, before getting divorced in 1995.

The King, who was divorced from Diana, Princess of Wales in 1996, later wed Camilla at the Guildhall in Windsor in 2005.

They have remained friends, with the former army officer among the selected guest list for the King’s coronation.

The interview is in June’s issue of Saga magazine.

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