Recap of Entertainment News from Reuters

Paramount Global’s board members have made a bold decision to enter into exclusive merger talks with Skydance Media, a move that could potentially shake up the entertainment industry. This decision comes as the board favors the independent studio over a lucrative $26 billion offer from Apollo Global Management, according to a source familiar with the matter.

The talks with Skydance Media are said to be more advanced than the offer from the U.S. private equity firm, marking a significant step in a two-step process that could ultimately result in the end of Shari Redstone’s control over the media empire established by her late father, Sumner Redstone.

In other entertainment news, the 77th Cannes Film Festival is set to kick off with the French comedy “The Second Act” as its opening film. Directed by Quentin Dupieux, the movie stars Lea Seydoux, Vincent Lindon, and Louis Garrel in a hilarious road-trip adventure that is sure to captivate audiences.

Meanwhile, Brussels is seeking to preserve its cultural heritage by seeking UNESCO intangible cultural heritage status for its traditional rod puppetry and the iconic 1,680-square-meter flower carpet displayed in front of the city hall every second year. The city’s state secretary for heritage, Ans Persoons, emphasized the importance of safeguarding these traditions for future generations.

And in a boardroom battle at Walt Disney Co, the entertainment giant has reportedly emerged victorious over a challenge from Nelson Peltz’s hedge fund Trian Fund Management. With enough shareholder votes in favor of Disney’s board directors, the company has successfully fended off the challenge posed by Peltz and former Disney CFO Jay Rasulo.