SONY - Paramount: Unpacking The Skydance Merger Proposal
2024-06-03 13:34:52 ET
Summary
- Important details on the proposed and likely also accepted deal between Paramount Global and Skydance have emerged, allowing us to judge its merits.
- On the other hand, some substantial questions still remain to be answered and shareholders need to watch out.
- In this article, we will analyze what's in the deal for Skydance, for Shari Redstone, and for non-voting Paramount shareholders.
- I don't think the proposed deal is acceptable, as it will shift too much of the company's future value generation to a new owner.
Paramount is poised to merge with Skydance
Today we finally received news that a Paramount Global ( PARA , PARAA ) special committee has apparently agreed to merge with Skydance Media, alongside some details on the proposed structure of the merger. Shari Redstone has not yet signed off, but is likely to do so within a few days in my opinion, since her personal situation has not changed right from the beginning of this M&A horror show: She will get a robust premium for her stake....
Paramount: Unpacking The Skydance Merger Proposal