Welcome to Extreme Investor Network, where we bring you the latest business news with a unique twist. Today, we are excited to share with you some exclusive information about a preliminary deal between Skydance and National Amusements, led by Shari Redstone, to merge with Paramount.
This deal, which was initially thought to have failed just weeks earlier, has been resurrected and is currently under review by Paramount’s special committee. The terms of the deal include Skydance acquiring roughly half of Paramount’s controlling shares at $15 per share, totaling $4.5 billion, and contributing $1.5 billion towards Paramount’s balance sheet. Additionally, Redstone will receive a reduced consideration of $1.75 billion as part of the deal.
The winding deal process has already seen the departure of CEO Bob Bakish and has attracted other interested bidders, including a joint effort from private equity firm Apollo and Sony. Barry Diller, chairman of media conglomerate IAC, as well as a former Paramount executive, have also shown interest in the deal. The preliminary agreement was first reported by The New York Times and the Wall Street Journal.
Stay tuned to Extreme Investor Network for more exclusive updates on this developing story. Subscribe to our newsletter for the latest insights and analysis on the ever-changing world of business news. Don’t miss out on the opportunity to stay ahead of the curve with Extreme Investor Network.