Paramount, Skydance expected to close deal on Aug. 7
- Paramount Global and Skydance Media are expected to complete their $8.4 billion merger on August 7, 2025, pending final administrative details.
- The merger follows a year-long approval process involving regulatory clearance from the FCC and amendments to voting interests within the Ellison family.
- Post-Merger, the combined company will trade on Nasdaq under ticker PSKY, with David Ellison serving as CEO and plans to rebuild Paramount and expand streaming.
- The agreement assigns $2.4 billion to Redstone and $4.5 billion to other shareholders, includes an additional $1.5 billion intended to reduce debt and strengthen the company’s financial position, and grants Skydance investors control of 70% of the shares.
- The transaction ends Shari Redstone's control of National Amusements, introduces leadership changes, and raises integration and market risks as Paramount seeks a sustainable future.
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Paramount Co-CEOs Confirm Skydance Deal Closing Date, Laud Employee Efforts During Process
UPDATED with internal memo: Paramount Global’s co-CEOs told employees Friday that they expect an August 7 closing date for the company’s merger with Skydance, praising staffers’ efforts during the grueling process of getting the deal done. The companies had earlier confirmed the expected closing date, which follows an epic, years-long effort to sell the home […]
Paramount and Skydance Announce Anticipated Closing Date, Deadlines to Elect Merger Consideration and Change of Ticker Symbol Effective at the Closing
NEW YORK, July 25, 2025 /PRNewswire/ -- Paramount Global (NASDAQ:PARA, PARAA)) ("Paramount") and Skydance Media, LLC ("Skydance") today announced that the transactions (the "Transactions") contemplated by the Transaction Agreement, dated as of July 7, 2024, by and among Paramount, Skydance, New Pluto Global, Inc. ("New Paramount") and the other parties thereto (the "Transaction Agreement") are expected to close on August 7, 2025 (the "Anticipate…
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