Paramount will merge with Skydance, bringing new ownership to the storied movie studio and CBS broadcast network long been controlled by the Redstone family.
Paramount Global will merge with Skydance, capping off a months-long negotiation that included various twists and turns, and will see the Redstone family step away from control of the storied movie studio and media company.
Paramount’s special committee agreed to the merger on Sunday, days after Shari Redstone’s National Amusements, the controlling shareholder of Paramount, once again reached a preliminary agreement with Skydance. A deal had weeks earlier been stopped in its tracks.
The latest iteration of the deal will see the buying consortium invest more than $8 billion into Paramount and to acquire National Amusements.
The merger is subject to regulatory approval. It also includes a 45-day „go-shop period“, in which the Paramount special committee can solicit other offers.
