Green Investings - Investing and Stock News
  • Stock Market
  • Investment News
  • Latest News
  • Economy
  • Stock Market
  • Investment News
  • Latest News
  • Economy
No Result
View All Result
Green Investings - Investing and Stock News
No Result
View All Result
Home Investment News

Skydance and National Amusements near Paramount deal as special committee reviews terms

by
July 3, 2024
in Investment News
0
Skydance and National Amusements near Paramount deal as special committee reviews terms
0
SHARES
58
VIEWS
Share on FacebookShare on Twitter

David Ellison’s Skydance has reached a preliminary deal with Shari Redstone’s National Amusements to merge with Paramount, according to two people familiar with the matter, resurrecting a deal which failed just weeks earlier.

Controlling shareholder National Amusements has referred the deal to the Paramount special committee, according to people familiar with the matter. Paramount’s special committee is currently reviewing and voting on the deal, according to a person familiar with the matter. A spokesperson for Paramount declined to comment.

Paramount shares surged as much as 9% on the news.

The resurrected deal will see Redstone receive a reduced consideration of $1.75 billion, according to a person familiar with the matter. The other financial terms of the deal, which CNBC previously reported, will remain unchanged: Skydance will acquire roughly half of Paramount’s controlling shares at $15 per share, for $4.5 billion, and contribute $1.5 billion towards Paramount’s balance sheet.

Redstone killed the initial bid in June as it was near the finish line. One of Redstone’s reasons was feeling as though Skydance had retraded the deal by asking her to take hundreds of millions of dollars less than the previously agreed to payment, according to one of the people.

The winding deal process had already led to the departure of CEO Bob Bakish earlier this year, leaving in place a three-headed office of the CEO to run the company. Other interested bids included a joint effort from private equity firm Apollo and Sony, as well as a recent entreaty from Barry Diller, chairman of media conglomerate IAC as well as a former Paramount executive.

The preliminary agreement was first reported by The New York Times and the Wall Street Journal.

This post appeared first on NBC NEWS
Previous Post

Collapsed crypto exchange Mt. Gox is about to unload $9 billion of coins

Next Post

Amid escalating pressure, Biden steps up efforts to reassure Democrats

Next Post
Amid escalating pressure, Biden steps up efforts to reassure Democrats

Amid escalating pressure, Biden steps up efforts to reassure Democrats

  • Trending
  • Comments
  • Latest
Warren Buffett gives away another $5.3 billion, says his children will manage estate

Warren Buffett gives away another $5.3 billion, says his children will manage estate

June 28, 2024
Supreme Court takes cases including vape rules, porn access for minors

Supreme Court takes cases including vape rules, porn access for minors

July 4, 2024
Tesla shares rise on better-than-expected Q2 deliveries report

Tesla shares rise on better-than-expected Q2 deliveries report

July 4, 2024
AI drive-thru ordering is on the rise — but it may take years to iron out its flaws

AI drive-thru ordering is on the rise — but it may take years to iron out its flaws

July 4, 2024
Supreme Court takes cases including vape rules, porn access for minors

Supreme Court takes cases including vape rules, porn access for minors

0
Warren Buffett gives away another $5.3 billion, says his children will manage estate

Warren Buffett gives away another $5.3 billion, says his children will manage estate

0
Key fed inflation gauge cools to its slowest rate in over three years

Key fed inflation gauge cools to its slowest rate in over three years

0
TSA airport screenings hit an all-time high

TSA airport screenings hit an all-time high

0
Supreme Court takes cases including vape rules, porn access for minors

Supreme Court takes cases including vape rules, porn access for minors

July 4, 2024
Jeffries seeks to stem House defections, for now, as Democrats panic over Biden

Jeffries seeks to stem House defections, for now, as Democrats panic over Biden

July 4, 2024
Trump advisers hope Biden stays in race, as they eye alternate scenarios

Trump advisers hope Biden stays in race, as they eye alternate scenarios

July 4, 2024
Biden and Democratic legislators undercut their party’s central message

Biden and Democratic legislators undercut their party’s central message

July 4, 2024
Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    Supreme Court takes cases including vape rules, porn access for minors

    Supreme Court takes cases including vape rules, porn access for minors

    July 4, 2024
    Jeffries seeks to stem House defections, for now, as Democrats panic over Biden

    Jeffries seeks to stem House defections, for now, as Democrats panic over Biden

    July 4, 2024
    Trump advisers hope Biden stays in race, as they eye alternate scenarios

    Trump advisers hope Biden stays in race, as they eye alternate scenarios

    July 4, 2024
    Biden and Democratic legislators undercut their party’s central message

    Biden and Democratic legislators undercut their party’s central message

    July 4, 2024
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 Greeninvestings.com. All Rights Reserved.

    No Result
    View All Result
    • Stock Market
    • Investment News
    • Latest News
    • Economy

    Copyright © 2025 Greeninvestings.com. All Rights Reserved.