Report: Paramount, Skydance agree to terms on $8 billion merger deal

Source: New York Post

“Paramount Global and Skydance have agreed on terms of a merger between the two entertainment companies that’s valued at $8 billion, according to a report. Skydance, the media company founded by David Ellison, has agreed under the proposed deal with a Paramount special committee to pay $2 billion for Paramount’s parent company, National Amusements, which is controlled by majority stakeholder Shari Redstone, according to CNBC. As part of the deal, Skydance will buy out nearly half of Paramount’s class B shares for $4.5 billion, $15 apiece — giving shareholders a stake in the newly formed company, according to Faber.” (06/03/24)