2024-07-03 14:57:16 ET
Summary
- Shari Redstone has resumed talks with David Ellison's Skydance on a potential buyout of her stake in National Amusement and a merger with Paramount.
- The deal is expected to close as soon as this weekend and sets a base case for an imminent sale of Paramount as it considers final offers from competitive contenders.
- The latest development and the stock's responding gain are likely to stay resilient, as Paramount faces increased urgency in finding alleviation for its debt-ladened balance sheet and dour growth outlook.
Shari Redstone & Co. is back at the negotiation table again with David Ellison's Skydance Media ("Skydance") in determining the future of Paramount Global ( PARA ), ( PARAA ). Skydance, the private production studio owned by Ellison, has been courting Paramount for more than six months for a potential merger of the two companies. Both have worked together in the past on iconic titles, including "Top Gun: Maverick". Both companies have currently entered into a tentative deal, whereby Skydance will merge with Paramount through the buyout of its parent holding company, National Amusement ("NAI"), which is currently controlled by Redstone....
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For further details see:
Everything You Need To Know About The Potential Paramount-Skydance Merger