Paramount Global Strikes Merger Deal with Skydance Media - What Investors Need to Know
Monday, 8 July 2024, 11:39
Paramount Global Stock Surge
Paramount Global's stock price experienced a notable increase before the market opened.
Merger with Skydance Media
The definitive merger deal with Skydance Media will lead to the formation of 'New Paramount' at an enterprise value of $28 billion.
- Premium Offer: The merger deal offers a 48% premium on Class B stock and 28% premium on Class A stock over the price as of July 1, 2024.
- Share Issuance: Existing Skydance investors are to receive 317 million newly issued Class B shares in New Paramount.
This merger signifies a significant development in the entertainment industry.
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