Paramount: merger agreement with Skydance
(CercleFinance.com) - Paramount Global today announced 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 $8bn 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 $4.75bn. 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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First, Skydance Investor Group, comprised of the Ellison family and RedBird Capital Partners, will invest over $8bn 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 $4.75bn. 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.
Copyright (c) 2024 CercleFinance.com. All rights reserved.