Media companyParamount Global(NASDAQ:PARA) agreed to a merger withSkydance Mediato form "New Paramount," valuing the combined company at $28 billion.

Here's a look at what analysts are saying and how Paramount Non-Executive ChairwomanShari Redstonesees the deal playing out.

What Happened:After months of negotiation, Paramount and Skydance have come to a merger agreement to combined the media entities.

The merger agreement comes with a 48% premium for Paramount Class B stock and a 28% premium over the Paramount Class A stock price based on a date of July 1, 2024. Class A shareholders will receive $23 per share...