On July 7, 2024, Paramount Global and Skydance Media announced a definitive agreement to merge, creating a new entity named 'New Paramount.' The merger includes Skydance's acquisition of National Amusements, Inc. (NAI), which holds a controlling interest in Paramount, followed by a merger of Skydance and Paramount. The transaction values Skydance at $4.75 billion and involves the Skydance Investor Group, led by the Ellison Family and RedBird Capital Partners, investing over $8 billion. Paramount Class A stockholders will receive $23 per share, while Class B stockholders will receive $15 per share, both in cash/stock options. The deal represents a 48% premium for Class B shares and a 28% premium for Class A shares as of July 1, 2024. The merger aims to position Paramount as a world-class...Show More

On July 7, 2024, Paramount Global and Skydance Media announced a definitive agreement to merge, creating a new entity named 'New Paramount.' The merger includes Skydance's acquisition of National Amusements, Inc. (NAI), which holds a controlling interest in Paramount, followed by a merger of Skydance and Paramount. The transaction values Skydance at $4.75 billion and involves the Skydance Investor Group, led by the Ellison Family and RedBird Capital Partners, investing over $8 billion. Paramount Class A stockholders will receive $23 per share, while Class B stockholders will receive $15 per share, both in cash/stock options. The deal represents a 48% premium for Class B shares and a 28% premium for Class A shares as of July 1, 2024. The merger aims to position Paramount as a world-class media enterprise with a focus on technological advancements and content delivery across various platforms. David Ellison will lead the new company as Chairman and CEO, with Jeff Shell as President. The transaction is expected to close in the first half of 2025, subject to regulatory approvals and customary closing conditions. A 'go-shop' period of 45 days allows Paramount to seek alternative proposals.