Paramount, Skydance set Aug. 7 closing date for $8B merger

By Michael P. Hill July 25, 2025

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Paramount Global and Skydance Media have set the date for their upcoming nuptials. 

In a July 25, 2025, press release, the companies said they plan to close their merger Aug. 7, 2025. 

The new company, Paramount Skydance Corp., will also switch to the NASDAQ symbol “PSKY” for its Class B common stock, abandoning the PARA symbol it currently uses. The “New Paramount” will also no longer use PARAA for its Class A common stock.

Paramount shareholders and retirement account holders are also facing some key deadlines for how they wish to handle the transition of these shares, with both cash-out and rollover options available. 

  • Shareholders of common stock will have until July 31, 2025, to decide on which option to take.
  • Current or former employees of Paramount with a Morgan Stanley stock plan account have until 4 p.m. on July 28, 2025.
  • For shares of Paramount common stock held via the Paramount Global 401(k) plan, the deadline is also 4 p.m. on July 28.
  • There may be earlier deadlines for those who own shares through another nominee

To make an election, eligible shareholders need to complete the appropriate materials. Information about accessing these materials will be distributed in the coming days. Shreaholders can also call Equiniti Trust Company at 866-595-1717 for details or to request materials directly.

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