Paramount: merger agreement with Skydance

(CercleFinance.com) - Paramount Global announced today that it has reached a definitive agreement with Skydance Media to form 'New Paramount', a leader in next-generation media and technology, in a two-stage transaction.


First, Skydance Investor Group, comprised of the Ellison family and RedBird Capital Partners, will invest over $8 billion to acquire National Amusements Inc (NAI), which holds the majority stake in Paramount.

Second, Skydance and Paramount Global will merge in an all-stock transaction, valuing Skydance at $4.75 billion. Skydance shareholders will receive 317 million B shares at a value of $15 per share.

On completion of the transaction, Skydance Investor Group will own 100% of New Paramount's A shares and 69% of the outstanding B shares, leaving the remaining B shareholders 'free to participate in the long-term value creation potential'.

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