Paramount Global will merge with Skydance Media in a two-step transaction guided by five law firms, the companies announced, ending months of negotiations that were the subject of rigorous speculation.
Paramount Global merges with Skydance Media : Transaction Details
Under the terms, Skydance has agreed to buy Paramount’s parent company, National Amusements, for $2.4 billion in cash. After this acquisition, Skydance will merge with Paramount, the companies announced late Sunday. This merger of Paramount Global and Skydance Media is poised to reshape the entertainment industry landscape.
As part of the deal, Skydance Investor Group, which includes Skydance’s Ellison family and RedBird Capital Partners, will offer $4.5 billion in cash or stock to shareholders and an additional $1.5 billion to Paramount’s balance sheet, the statement said.
Paramount Global merges with Skydance Media : Leadership and Legal Teams
Skydance is led by David Ellison, the 41-year-old son of Oracle founder Larry Ellison. Ellison expressed his excitement about the merger, stating that this is a defining and transformative time for the industry.
