Los Angeles, California – Paramount Global and its parent company are in advanced talks with Skydance Media for an exclusive negotiation window in a potential three-way deal. Rumors have been circulating in Hollywood regarding the merger, with Shari Redstone and David Ellison reportedly making progress towards a partnership.
According to reports, discussions have been ongoing for months, with the possibility of establishing a 30-day exclusivity period to reach a final decision. The proposed deal involves Skydance acquiring National Amusements, controlled by Redstone, followed by the acquisition of Paramount Global in a two-step process. The long-standing partnership between Paramount Global and Skydance in film and TV production is seen as a significant driving force behind Redstone’s consideration of the transaction.
Recent developments suggest that Paramount, NAI, and Skydance are aiming to accelerate their discussions following a substantial offer from Apollo Global Management for the Paramount Pictures film studio. Redstone’s preference is to keep the company’s major assets intact in a sale, both to maximize value and preserve the legacy of her father’s media empire.
Conversations between Paramount and Skydance have been ongoing since at least last November, creating uncertainty around the company’s future. This uncertainty has impacted Paramount’s ability to secure deals with creative talent and other partners, leading to fluctuations in the company’s stock price. As speculations continue, Paramount’s stock closed at $11.76, with slight gains in after-hours trading following the latest reports.
As the negotiations progress, industry experts are closely monitoring the potential merger between Paramount Global, National Amusements, and Skydance Media. The outcome of these talks could have significant implications for the future landscape of the entertainment industry, reshaping the dynamics of film and television production. Stay tuned for further updates on this developing story.