Paramount agrees to Skydance merger in $8 bln deal

) said on late-Sunday its board had unanimously approved a takeover offer by Skydance Media, ending months of speculation over the deal and opening up a new path for the studio.

The overall deal will include a $4.2 billion investment in Paramount by a group comprising the Ellison Family and Redbird Capital and $1.5 billion of primary capital for the combined entity, called New Paramount. “Our hope is that the Skydance transaction will enable Paramount’s continued success in this rapidly changing environment,” Paramount Global chair Shari Redstone said.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Paramount’s rumored merger with Skydance is offParamount’s potential merger with Skydance Media has fallen apart after weeks of negotiations, leaving the parent company of CBS and Showtime looking for a new path.
Source: verge - 🏆 94. / 67 Read more »

National Amusements ends Paramount merger talks with Skydance MediaNational Amusements said merger talks ended after the companies were unable to reach 'mutually acceptable terms' on a deal.
Source: CBSNews - 🏆 87. / 68 Read more »