RPV - Why Is Paramount Global Stock Surging Today? | Benzinga
Paramount Global (NASDAQ:PARA) shares surged premarket Wednesday as Skydance Media has reportedly reached a preliminary agreement to acquire National Amusements Inc. and merge with Paramount, the parent company of CBS and MTV.
Shari Redstone’s National Amusements, the family firm controlling Paramount, will forward the deal to a special committee of Paramount directors for review, reported Bloomberg.
This deal, which involves significant financial maneuvering, aims to bolster Paramount’s position in the competitive media landscape.
Th development follows the recent collapse of previous negotiations, with renewed talks gaining momentum over the past week. Skydance is led by Oracle Corporation (NYSE:ORCL) co-founder Larry Ellison’s son David Ellison.
The new terms include a higher valuation for ...