David Ellison's Skydance Media, Gerry Cardinale's RedBird Capital, and Shari Redstone's National Amusements Inc had a very busy weekend, but it looks like they might be reaching the finishing line in terms of Skydance's attempts to acquire Paramount Global.
5333 shares of Class B stock of New Paramount; Offer Class B stockholders other than NAI an election to receive in the merger $15 cash per share or one share of Class B stock of New Paramount, subject to proration if Class B elections exceed $4.3 billion in the aggregate ; Use the additional capital to pay down existing debt and re-capitalize the balance sheet of New Paramount to support strategic initiatives.
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