Paramount (PARA) stock jumped on Wednesday, gaining about 7% after the Wall Street Journal reported the media giant’s proposed merger with Skydance Media is back on the table in a new form. Shari Redstone, who controls Paramount through her family’s holding company National Amusements (NAI), ended merger talks with Skydance in June after months of […]
Tag: Skydance
Paramount Jumps Amid Reports That Skydance Merger Is Back On
A Tentative Deal Between the Two Sides Was Axed by Shari Redstone Last Month Patrick Fallon / AFP / Getty Images Key Takeaways Paramount Global shares are surging in premarket trading Wednesday as reports emerge that the media conglomerate has tentatively agreed to a merger with Skydance Media. Under the reported deal, Skydance would acquire […]
Skydance Media Reaches Preliminary Paramount Merger Agreement
(Bloomberg) — Independent film and TV producer Skydance Media has reached a preliminary agreement to buy Shari Redstone’s National Amusements Inc. and merge with Paramount Global, the parent of CBS and MTV, according to a person with knowledge of the matter. Most Read from Bloomberg National Amusements, the family company that controls Paramount, will refer […]
What’s next for Paramount after demise of Skydance merger
The future of Paramount Global (PARA) now hangs in the balance after Shari Redstone, who controls Paramount through her family’s holding company National Amusements (NAI), ended merger talks with Skydance Media. “I was surprised,” J. Christopher Hamilton, a former entertainment industry executive and professor at Syracuse University, told Yahoo Finance. “The deal seemed like it […]
Why Shari Redstone called off talks with David Ellison’s Skydance on Paramount deal
Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. Shari Redstone has finally spoken. After weeks of endless speculation about the future of Paramount Global, and more than half a year of grueling negotiations, the heiress called off […]
Paramount Global owner calls off merger talks with Skydance Media
NEW YORK (AP) — National Amusements, which owns a majority voting stake in embattled entertainment giant Paramount Global, said Tuesday that it has ended talks on a possible merger of Paramount with movie production company Skydance Media. The potential deal had drawn attention for weeks amid concerns about Paramount’s future given its heavy debt load […]
Shari Redstone ends talks with Skydance for Paramount merger, source says
By Dawn Chmielewski LOS ANGELES (Reuters) -Media heiress Shari Redstone has ended talks with David Ellison’s Skydance Media, even as a special committee of the Paramount Global’s board was expected to meet to vote on a merger proposal, according to a source familiar with the negotiations. Redstone, Paramount’s controlling shareholder, had been expected to sell […]
Paramount stock plummets after Shari Redstone kills Skydance deal
Paramount Global (PARA) shares sank nearly 8% on Tuesday after Shari Redstone, who controls Paramount through her family’s holding company National Amusements (NAI), ended merger talks with Skydance Media, NAI confirmed in a statement. As first reported by the Wall Street Journal, Redstone will now likely pursue a sale of just NAI, rather than attempting […]
Skydance talks for Paramount near finish line, but Redstone family decision looms
Shari Redstone and her family must still decide whether to sell their family’s inheritance. (Evan Agostini / Invision / Associated Press) For more than a week, Paramount Global has been poised to accept David Ellison’s bid for control of the troubled media company. But one big question hangs over the protracted deal talks: Will Paramount’s […]
Paramount’s Shari Redstone Juggling Skydance, Other Suitors As Deal Saga Continues
Shares of Paramount Global edged lower Thursday, day three in the red, amid lingering uncertainty around Skydance’s latest offer. With bigger than anticipated sweeteners for Class B shareholders, it was approved by Par’s special board committee and sent on to controlling shareholder Shari Redstone but with no announcement forthcoming. Redstone controls Paramount through family holding […]
Paramount Agrees To Merger Terms With Skydance, Private Equity: Report
A cyclist passes by signage outside the Paramount lot in Los Angeles. . Paramount Global and its controlling shareholder, the Redstone family’s National Amusements, reportedly have agreed to terms of a deal that would combine Paramount with Skydance Media, which is backed by private equity. According to CNBC, Shari Redstone would receive $2 billion for […]
Skydance to Offer $23 a Share for Paramount Voting Stock
(Bloomberg) — Skydance Media plans to offer $23 a share to investors in Paramount Global’s voting stock as part of its plan to merge with the film and TV giant, according to people with knowledge of the matter. Most Read from Bloomberg The bid would be made to investors other than members of the Redstone […]