Paramount Global (Paramount) announced a significant merger with Skydance Media LLC, with the transaction overview presented on July 8, 2024. The merger includes an $8 billion investment by the Skydance consortium, led by the Ellison family and RedBird Capital. The deal comprises a $2.4 billion acquisition of National Amusements, a $6 billion cash infusion into Paramount, and the merger of Skydance into Paramount at an equity value of $4.75 billion. Paramount's management team, including David Ellison, founder and CEO of Skydance, and Jeff Shell, Chairman at RedBird Capital, outlined the merger's strategic benefits, such as strengthening Paramount's balance sheet, enhancing free cash flow, and aligning voting and economic interests. The merger aims to position Paramount as a world-class storytelling enterprise and a...Show More

Paramount Global (Paramount) announced a significant merger with Skydance Media LLC, with the transaction overview presented on July 8, 2024. The merger includes an $8 billion investment by the Skydance consortium, led by the Ellison family and RedBird Capital. The deal comprises a $2.4 billion acquisition of National Amusements, a $6 billion cash infusion into Paramount, and the merger of Skydance into Paramount at an equity value of $4.75 billion. Paramount's management team, including David Ellison, founder and CEO of Skydance, and Jeff Shell, Chairman at RedBird Capital, outlined the merger's strategic benefits, such as strengthening Paramount's balance sheet, enhancing free cash flow, and aligning voting and economic interests. The merger aims to position Paramount as a world-class storytelling enterprise and a tech hybrid company ready to meet evolving market demands. Paramount Global brings to the merger its strong brand portfolio, including CBS, MTV, Nickelodeon, Paramount+, and Pluto TV. Skydance contributes its robust content production across film, television, animation, sports, and games, including successful titles like Top Gun Maverick and Mission Impossible. The combined entity is expected to unify key intellectual property, create a powerful entertainment flywheel, and leverage technological advancements to optimize its direct-to-consumer platform, Paramount+. The transaction is anticipated to close in the third quarter of 2025, subject to customary closing conditions and regulatory approvals.