Paramount's stock rose 8% on potential merger with Skydance Media

From Yahoo Finance.: 2024-07-03 12:08:33

Paramount’s stock soared 8% after the Wall Street Journal reported that a merger with Skydance Media may be back on the table. Shari Redstone, who controls Paramount, ended previous merger talks in June. Skydance is proposed to purchase National Amusements for $1.75 billion and merge with Paramount, which owns several media assets. A 45-day “go-shop period” has been agreed upon for other bidders. Redstone may be protected from litigation threats with stronger indemnification language. Negotiations have been tumultuous, leading to the departure of CEO Bob Bakish. Skydance has revised its offer multiple times.



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