Paramount Global’s Deal with Skydance Gets Board Approval, Set to Close by 2025

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Paramount Global’s Deal with Skydance Gets Board Approval, Set to Close by 2025

Post by Admin » Mon Jul 08, 2024 6:01 pm

It appears some closure is finally in sight in the seemingly never-ending saga of Paramount’s merger with Skydance.

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After numerous stops and starts, promising updates that led to nothing, and moments where it looked like talks had fallen apart for good, Paramount Global and Skydance Media are ready to make it official. Paramount’s board of directors has approved a deal that will see National Amusements Inc. — the holding company through which majority shareholder Shari Redstone controls Paramount’s voting stock — bought by Skydance, which will then merge itself with Paramount. Skydance and its backers will invest $8 billion to get their hands on a legacy media company with big-name brands, including the CBS television network and Paramount+ streaming service.

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