After more than six months of negotiations, the film company Skydance Media has reached an agreement to acquire the holding company National Amusements (which owns 77% of Paramount Global). The deal is scheduled to close in 2025 and is estimated to be worth $28 billion.
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According to Reuters, the deal is expected to be completed in two stages: First, the investment fund RedBird Capital Partners, the Ellison family and Oracle founder Larry Ellison will pay $2.4 billion.
They will then pay another $4.5 billion in cash and stock for the Paramount Global shares. Another $1.5 billion will then be invested to strengthen Paramount’s balance sheet and pay off the media company’s debts, which exceed $14 billion.
The second stage then begins, during which the merger itself is planned through the exchange of shares. Skydance is valued at 4.75 billion dollars.
Upon completion of the transaction, Jeff Shell of Redbird will become president of the combined company.
Under the terms of the agreement, Paramount will have 45 days to find a better deal.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
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