From NBC Universal: 2024-04-04 13:21:41

Paramount Global’s stock dropped 8% amid reports of needing to raise $3 billion in new equity for a potential merger with Skydance Media. Shari Redstone is in exclusive talks to sell her stake in Paramount to David Ellison. Ellison and partners may provide some equity, but it would be dilutive.

Apollo Global Management made a $26 billion all-cash offer for Paramount, which was rejected. Redstone has not shown interest in this deal. Paramount’s stock surged after the rejection. With talks of a potential merger with Warner Bros Discovery, Paramount seeks the right deal for its nearly $10 billion market capitalization and $13 billion net debt.



Read more at NBC Universal: Paramount stock slumps on reports of equity raise for merger