Paramount-Skydance near a new merger deal: Sources

By NewscastStudio

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The on-again-off-again merger between Paramount Global and Skydance Media appears to be back on again, according to The New York Times

After a second version of a potential merger fell through in June 2024, the two sides publicly announced the deal was dead.

Meanwhile, reports surfaced that Paramount had signed an NDA with Barry Diller’s IAC and the two had started talks.

Few details about the potential new Skydance-Paramount deal are available, though the Times does report that talks began soon after the previous deal fell through in June after an extensive period of negotiations were halted by National Amusements attorneys.

Times sources indicated the new merger would give NAI chair Shari Redstone better financial terms by valuing its holding in Paramount at $1.75 billion as opposed to a previous $1.7 billion figure.

Another key aspect, according to sources, is that the new agreement is structured in a way to shield NAI against potential shareholder lawsuits. That point was reportedly a key sticking point in the previous rounds of talks because of some high-profile stockholder objections to Skydance taking over.

Paramount will also likely be given 45 days to shop the company to other buyers, which could potentially deliver a better deal for shareholders.

Any merger would need to be approved by a special committee formed by the Paramount board.

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