Paramount and Skydance Sign Merger Agreement to Form $28 Billion Company
Published on July 8, 2024
Paramount Global and Skydance Media have agreed to merge into a new company, with the deal set to be closed in the first half of next year. The companies, which have funded several Hollywood blockbusters, will merge to create “New Paramount,” according to a July 7 press release from Skydance. The merger will take place through a two-step transaction. In the first step, Skydance will acquire National Amusements Inc. (NAI), which has a controlling stake in Paramount Global. Then, Skydance will merge with Paramount Global to form New Paramount, which is expected to have an enterprise value of roughly $28 billion. The transaction is projected to be completed in the first half of 2025 after all necessary regulatory approvals are received....