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Skydance to Merge with Paramount Global nasdaq Para in 75 Billion Deal

Skydance to Merge with Paramount Global (NASDAQ: PARA) in $1.75 Billion Deal

National Amusements has reached a preliminary deal to sell its controlling interest in Paramount Global (NASDAQ: PARA) to Skydance, three sources familiar with the matter told Reuters.

Shari Redstone’s National Amusements re-engaged with the David Ellison-led production studio after abruptly ending deal talks last month while fielding takeover interest from other interested parties.

Skydance will pay $1.75 billion to National Amusements, which owns 77% of the voting shares of Paramount, as part of a two-step deal involving the merger of Skydance and Paramount, according to the tentative agreement.

(Source: Reuters)