Universal Studios has announced a new five-year partnership with studio Pinnacle Entertainment, as well as the acquisition of Paramount Pictures for a record $3.8 billion.
The deal, announced Wednesday, is a result of two years of negotiations between the two companies and the combined company has been working hard to create a more efficient, more affordable entertainment package for the consumer.
“This partnership with Pinnacle and Paramount has been a great fit for both companies,” said Rob Greenfield, chairman and CEO of Universal Studios.
“We look forward to a long and fruitful partnership.”
The studios agreement comes on the heels of a long-term deal between Universal and Paramount, which included the purchase of a 50 percent stake in Universal Studios in October 2017.
Pinnacle is a premier studio and production company that is headquartered in St. Louis.
It has a global presence that includes studios in New Zealand, Australia, India, Japan, Brazil, and Mexico.
Pilot: A Modern War is scheduled to be released by Universal Studios on Dec. 1, 2018.