Good Morning! It is July 4th! In the US, they will be shooting fireworks in the sky, and in the UK, it is election day! Not much on that today, but there are some other interesting stories you cannot miss:

Today’s headlines:

• Skydance sweetens merger deal with Paramount 🧁 

• AI’s impact on Big Tech climate goals 🌎️ 

• Tesla is beating expectations 🏎️ 

Have a good one!

Nils

MERGERS
Can Skydance and Paramount finally get it together and kiss

What Happened 
Skydance Media has resumed merger talks with Paramount just weeks after an earlier deal fell through at the last minute. David Ellison, head of Skydance and son of Oracle billionaire Larry Ellison, brought Paramount's controlling shareholder Shari Redstone back by agreeing to sweeten the deal. The renewed bid includes a higher offer for the Hollywood studio behind iconic films like The Godfather, Titanic, and Forrest Gump.

Why It Matters

• The renewed talks give Skydance another shot at acquiring the legendary Paramount studio after Redstone abruptly ended the initial deal last month.

• Skydance's sweetened offer underscores the value and appeal of Paramount's extensive film library and production capabilities.

• The potential merger would reshape the Hollywood landscape, combining Skydance's independent production prowess with Paramount's storied history and assets.

• Media mogul Barry Diller, who lost a 1990s bidding war for Paramount, is also reportedly eyeing a controlling stake, potentially setting up a new battle for the studio.

What's Next 
Paramount's special committee, which was prepared to approve the initial Skydance deal, is evaluating the new offer. However, a deal is not certain, and Paramount shareholders have a 45-day "go shop" period to seek higher bids from other suitors.

The ultimate outcome will depend on whether Skydance's new offer is sufficient to win over Redstone and Paramount's board and whether any competing bids emerge during the go-shop period. The high-stakes negotiations promise to keep Hollywood on the edge of its seat in the coming weeks.