Paramount reportedly could acquire Skydance in $5 billion all-stock deal
NY Post
A deal between Paramount Global and Skydance Media could see the media conglomerate acquire the independent studio in an all-stock transaction valued at around $5 billion, the Wall Street Journal reported on Friday.
Under the terms being discussed, National Amusements, which controls Paramount, would receive over $2 billion in cash in the first step of the transaction, according to the report.
Separately, Skydance could provide a substantial cash infusion to Paramount, owner of the Paramount Pictures film studio, to bolster its balance sheet and help pay down debt, the Journal said, citing people familiar with the matter.
Paramount and Skydance did not respond to Reuters’ request for comment on the WSJ report outside business hours.
National Amusements and its controlling shareholder Shari Redstone could not be contacted immediately.
Members of Paramount’s board agreed to enter into exclusive merger talks with Skydance Media, favoring the independent studio over a $26 billion offer from private equity firm Apollo Global Management, Reuters reported on Wednesday.
