Paramount Global Accepts $8 Billion Takeover Bid from Skydance – Merger Agreement Details
Paramount Global, the owner of Paramount Pictures, CBS television, Comedy Central, Nickelodeon, and MTV, has accepted an $8 billion takeover bid from U.S. independent film, animation, and gaming production company Skydance. The merger agreement, approved by a special committee of the Board of Directors, includes a 45-day “go-shop” clause for alternative acquisition proposals. Skydance, owned by David Ellison and Red Capital, will inject $8 billion into Paramount to create “New Paramount,” a next-generation media and technology leader.
The all-stock deal will see Paramount shareholders receiving $23 per share in cash or stock for class A shares and $15 per share for class B shares. The deal values the new company at around $28 billion and marks the end of the Redstone family’s nearly four-decade involvement with Paramount. Skydance plans to enhance and reinvigorate Paramount’s brands with a new leadership team led by David Ellison as Chairman and CEO and Jeff Shell as president.
The merger partners classics like The Ten Commandments and White Christmas with newer releases like Top Gun: Maverick and Star Trek Into Darkness. Paramount’s portfolio of network, studio, and streaming brands reaches over 4.3 billion subscribers in more than 180 countries. The deal aims to position Paramount for success in an evolving industry landscape, delivering immediate value to shareholders while offering future upside opportunities.
