Paramount agrees to merge with Skydance, ending monthslong negotiations and Redstone era

Source: CNBC

“Paramount Global has agreed to merge with Skydance, capping off a monthslong negotiation, in a deal that would see the Redstone family step away from control of the storied movie studio and media company. Paramount’s special committee signed off on the merger Sunday, days after Shari Redstone’s National Amusements, the controlling shareholder of Paramount, once again reached a preliminary agreement with Skydance, the production company known for ‘Top Gun: Maverick.’ A similar deal had weeks earlier been stopped in its tracks. The latest iteration of the deal will see the buying consortium, which includes private equity firms RedBird Capital Partners and KKR, invest more than $8 billion into Paramount and to acquire National Amusements.” (07/08/24)