SONY - Paramount-Skydance Merger Talks Heat Up | Benzinga
Paramount Global (NASDAQ:PARA) and Skydance Media are advancing towards a merger, with discussions to purchase out controlling shareholder Shari Redstone underway, CNBC cites sources.
Paramount Global’s special committee and David Ellison’s Skydance Media, supported by private equity firms KKR and RedBird Capital Partners, are honing the valuation of Skydance’s assets for the merger and determining the equity to be added for recapitalization.
The parties are nearing an agreement on valuing Skydance at about $5 billion to merge with Paramount Global, CNBC writes.
Ellison and the supporting private equity firms intend to raise approximately $4.5 billion to $5 billion in new equity. Around $2 billion would go towards paying Redstone, with a significant ...