PARA - Paramount Skydance Deal Talks Fuel Investor Interest But Charts Indicate Mixed Sentiments | Benzinga
Paramount Global (NASDAQ:PARA) is stirring the market’s curiosity as discussions heat up regarding a potential deal with Skydance Media.
Skydance founder David Ellison recently met with Paramount’s board, signifying a significant step toward agreeing with Shari Redstone, who owns a controlling 77% voting stake in Paramount Global.
Paramount Global stock was up over 2.64% by 8 AM ET in pre-market trading.
Paramount-Skydance Deal Talk
The talks hint at Paramount’s strategic shift towards exclusive negotiations with Skydance, though competing bids from Apollo Global Management and Byron Allen‘s Entertainment Studios keep the landscape dynamic, as reported by The New York Times.
Redstone’s contemplation of selling her stake, controlled through her family business, National Amusements Inc., could underscore a significant turn in the company’s trajectory.
While details remain undisclosed, the potential deal could involve Skydance acquiring National Amusements and merging with Paramount. This development awaits Paramount’s board approval, which has been deliberating options amidst ...