Summary by Moomoo AI
On July 7, 2024, Paramount Global and Skydance Media announced a definitive agreement to merge, creating a new entity named 'New Paramount.' The merger includes the acquisition of National Amusements, Inc. (NAI), which holds a controlling interest in Paramount, followed by a merger of Skydance and Paramount. The transaction values Skydance at $4.75 billion and New Paramount at an approximate enterprise value of $28 billion. Skydance Investor Group, led by the Ellison Family and RedBird Capital Partners, will invest over $8 billion in the new company. Paramount Class A stockholders will receive $23 per share, while Class B stockholders will receive $15 per share in a cash/stock election. The merger is expected to close in the first half of 2025, subject to regulatory approvals and other customary...Show More
