07/08/2024

Paramount, Skydance Merger Deal Ends Redstone Era

This scripts a new chapter for one of Hollywood's oldest studios

Skydance Media and Paramount Global agreed to merge, the companies announced late on Sunday, scripting a new chapter for one of Hollywood's oldest studios.

The companies agreed to a two-step process in which Skydance and its deal partners will acquire National Amusements, which holds the Redstone family's controlling stake in Paramount, for $2.4 billion in cash.

Skydance will subsequently merge with Paramount, offering $4.5 billion in cash or stock to shareholders and providing an additional $1.5 billion for Paramount's balance sheet.

Please select this link to read the complete article from Reuters.