Zhitong Finance APP learned that Paramount Universal (PARA.US), under National Amusements, has reached a preliminary agreement on the merger of Paramount and Skydance Media. This transaction broke down last month.

According to reports, Skydance, led by David Ellison, will acquire National Amusements, the family holding company of Shari Redstone, and merge with Paramount, the media giant held by National Amusements.

The terms of Skydance's new deal are not yet clear, but the previous transaction of this media company was criticized by some Paramount shareholders because they preferred Redstone's voting shares over more widespread stock categories.

It is reported that the new transaction will be reviewed by a special committee of the Paramount board. Skydance is expected to pay $1.75 billion to acquire National Amusements. Other bidders will have 45 days to submit quotes at an agreed price.

According to reports, Skydance has been seeking to acquire Paramount for several months, but a major obstacle is the need to obtain the approval of a majority of shareholders other than Redstone. National Amusements did not ask for this to happen this time.

As of press time, Paramount Universal rose 7.93% after hours, reporting $11.57 per share, previously rising 10%. The stock rose 5.72% on Tuesday, but fell nearly 27% this year.