Shares of Entertainment giant Paramount Global are up Thursday after announcing it would extend by 15 days a period where it's allowed to assess competing...
Shares of Entertainment giant Paramount Global are up Thursday after announcing it would extend by 15 days a period where it's allowed to assess competing offers to its merger agreement with Skydance .
Bronfman offered $4.3 billion for Shari Redstone's National Amusements, the controlling shareholder of Paramount, according to multiple media reports this week, and upped that bid to $6 billion Wednesday. If accepted, Brofman would own a minority interest in Paramount. Skydance, based in Santa Monica, California, has helped produce some major Paramount hits in recent years, including Tom Cruise films like “Top Gun: Maverick” and installments of the “Mission Impossible” series.The proposed combined company of Paramount and Skydance is valued at around $28 billion. In connection with the transaction, which is expected to close in September 2025 pending regulatory approval, a consortium led by the Ellison family and RedBird Capital will be investing $8 billion.
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National Amusements Edgar Bronfman Jr. Paramount Global Skydance Merger Agreement Sumner Redstone
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