Skydance Media has revised its offer for Paramount Global, providing nonvoting shareholders the option to cash out at $15 per share, a 26% premium over the previous price. The deal, spearheaded by David Ellison, includes a $1.5 billion cash injection to pay down Paramount’s debt and a plan to tender for about 50% of Paramount's B shares. Additionally, Skydance and RedBird Capital would own two-thirds of Paramount post-merger. The agreement, valued at $8 billion, is pending approval from Paramount's controlling shareholder Shari Redstone. Paramount's leadership is also considering job cuts and exploring joint venture options for its streaming service as part of a broader restructuring plan. Key sticking points include legal expenses, a potential go-shop period, and a shareholder vote.
As Paramount Global controlling shareholder Shari Redstone mulls the terms of a merger between her conglom and Skydance, the network/studio/streaming service trotted out their best and brightest CEO troika this early AM in annual global stockholders meet to tout their hit parade… https://t.co/Hc2A15GcwM
Why is the media industry obsessed with the Paramount story? Why does it feel like all Hollywood people want Skydance to win? Shari Redstone has never pulled the trigger on selling Paramount — why now? https://t.co/li6FOv23ax @sarafischer answers @danprimack in Pro Rata
Shari Redstone leaves investors guessing as Paramount and Skydance agree merger terms https://t.co/yM6egzBJ0q
“I think it’s not clear that this transaction is going to move forward as planned,” says @RichLightShed of a merger between $PARA and Skydance: https://t.co/3vTTT1WJuQ
Paramount shares drop as top execs unveil $500M cost-cutting plan amid Skydance talks https://t.co/xoClqchPFa https://t.co/9PLdvWBiFk
Paramount Global's top execs detail restructuring plan; $PARA falls https://t.co/LWoOVLKyOU
Amid Skydance Offer, Paramount Global CEO Trio Trumpet 14 Billion Dollar Brands, Plans To Explore Streaming Joint Ventures https://t.co/PSaQytV4t9
Looks like the market is expecting a @paramountco deal announcement today $para https://t.co/WmYwKJUPKR
Paramount said it’s considering joint venture options for its streaming service https://t.co/QCs6V9JaPH
Amid Skydance Offer, Paramount Global CEO Trio Trumpet $14 Billion Brands, Plans To Explore Streaming Joint Ventures https://t.co/PSaQytV4t9
Shari Redstone could make a decision on Paramount's future as early as today. While we wait, I ask @sarafischer to break down why she might finally sell: https://t.co/M0tmyoPljQ
NEW: Paramount mulls streaming JV, plans job cuts as sale talks escalate https://t.co/DsHSgujzIy
Paramount mulls streaming JV, job cuts as merger talks loom https://t.co/ocAV3uBfLY
$PARA Shari’s Moment of Hard Truth The sweetened Ellison/Skydance deal is Redstone’s if she wants it. So why is she wavering? https://t.co/r6Cp3XCQAx
Paramount Leaders Outline Stand-Alone Plan, With No Word on Skydance Deal https://t.co/xmgsfCZcF9 via @variety
Paramount Leaders Outline Stand-Alone Plan, With No Word on Skydance Deal https://t.co/1Jx388TzgP
Paramount Global Non-Exec Chair Shari Redstone Touts Office Of CEO During Annual Shareholder Meeting https://t.co/cgyLQq9jlb
📣 JUST IN: $PARA Paramount Global to Announce Job Cuts, Streaming JV Plans at Annual Meeting $NFLX $WBD $DIS $CMCSA $AMZN $GOOGL $FUBO 👉 Key Highlights: 📍 Paramount to present job cuts and strategic plans at annual shareholder meeting. 📍 CEOs of CBS, Paramount Media… https://t.co/rdKKBVEbLX
Source: Paramount leadership will present a plan that includes job cuts and a potential streaming partnership in the event a sale of the company doesn't happen (CNBC) https://t.co/yqjDXFkT9s https://t.co/9xo4STI763
Paramount leadership team to announce job cuts, streaming JV plans at annual meeting https://t.co/LvH6l6sgb6
$PARA (-0.3% pre) Paramount leadership team to announce job cuts, streaming JV plans at annual meeting - CNBC https://t.co/e6YwS9tGQu
This is essentially Shari Redstone’s fallback option. If she doesn’t pull the trigger on Skydance, here’s the plan: https://t.co/qBe5PCYrzQ
Paramount Global’s current leadership will unveil three strategic pillars: *Explore a JV with Paramount+ *Cut $500m in costs including job cuts *Divest non-core assets All done with attention on returning company to investment grade rating https://t.co/BQWKMCKyWe
We’ve got the scoop of what Paramount Global’s leadership is about to say at the company’s annual meeting … and it will be newsy. Here’s what’s coming: https://t.co/isWcbMhSVt
$PARA (-0.4% pre) Paramount Global's co-CEOs to lay out strategy for shareholders - Reuters https://t.co/Ofy9JRM4PQ
Does Paramount's $PARA deal with Skydance really change anything? Barclays weighs in https://t.co/oiMfz8lsXx https://t.co/9ZsebWO7FP
Talking Paramount $PARA coming up shortly on @SquawkCNBC with @andrewrsorkin @BeckyQuick & @JoeSquawk Is the Skydance transaction in trouble? https://t.co/U7w6QIsAQx
Paramount Global's co-CEOs to lay out strategy for shareholders https://t.co/VWlHiUpzpX https://t.co/irlJ7wFXaZ
Paramount Shareholder Aspen Sky Trust Decries Skydance Agreement as ‘Undervalued Bid’ That Only Benefits Shari Redstone https://t.co/J20bOamsPU
Paramount and Skydance have agreed to terms of a merger, CNBC reports. https://t.co/bwl1L3JakP
Does Paramount Global Finally Have a Deal? https://t.co/qewEanL2Oz $PARA
Paramount Shares Gain As Wall Street Gauges Skydance Deal; “The More Important Question Is What Happens Next,” One Analyst Notes https://t.co/n6eL3jwmsY
Paramount Shares Gain As Wall Street Gauges Skydance Deal; "The More Important Question Is What Happens Next," One Analyst Notes https://t.co/n6eL3jwmsY
Skydance offers $8bn for Paramount Global on eve of AGM (reports) https://t.co/uY3wBPHcdf
SCOOP: Shari Redstone’s decision on @Skydance - @paramountco deal expected imminently; a yes vote tonight or tomorrow means deal could be formally announced by the end of the week $PARA more now @FoxBusiness
SCOOP From a source inside the the @Skydance - @paramountco $PARA negotiations: The parties DONT have a done deal yet. "They're still working through the details," is how the source described the end-game negotiations. The source, however, is confident it will happen more w…
Skydance poised to announce takeover of $PARA Paramount - CNBC - Details will be out soon for voting and non-voting shares
Paramount Reportedly Set to be Acquired By Skydance https://t.co/0ErfBXtDYW
Paramount Agrees To Merger Terms With Skydance, Private Equity: Report https://t.co/mJxClX1vEo https://t.co/Cc3hA1y3fr
The future of Paramount may be decided in the next couple days, with the ball now in controlling shareholder Shari Redstone’s court https://t.co/LLRiOTDuvn
After months of talks, Paramount and Skydance have reportedly agreed to a merger. Here's what to know. https://t.co/rwNAft9vP5
Paramount Global and Skydance have agreed to terms on a merger, a person familiar with the deal talks has confirmed to Deadline, with Paramount controlling shareholder Shari Redstone taking a final look https://t.co/1pcRk9Ms7s https://t.co/u5iyoyqzXU
Skydance Set to Pay $8 Billion to Gain Control of Paramount https://t.co/987mqoRZ2Y
$PARA | Skydance To Offer $23 A Share For Paramount Voting Stock - @business https://t.co/J364xgcqu4
Midday Market Brief: Paramount Global stock rose after reports that the company has agreed to terms for a merger with Skydance. CNBC said a deal could be announced in the coming days — it follows weeks of talks and a competing offer from Apollo Global Management and Sony… https://t.co/LxrYBWRwZR
Skydance plans to offer $23 a share to investors in Paramount Global’s voting stock as part of its plan to merge with the film and TV giant, sources say https://t.co/CG9bGiGX6F
David Ellison's @Skydance would buy @paramountco for a little over $8B in cash for a company that's currently trading at $9B Ellison would own 2/3 of the biz which would then acquire Skydance at a $5B valuation, altogether ostensibly worth $11B https://t.co/pthV1yrGN2
Paramount Global stock rose after reports that the company has agreed to terms for a merger with Skydance. CNBC said a deal could be announced in the coming days — it follows weeks of talks and a competing offer from Apollo Global Management and Sony Pictures. https://t.co/kdpAWeSenC
Ellison’s latest Paramount offer has a $15-a-share sweetener https://t.co/uLqIZMyPBC via @business
MGM Resorts $MGM 30-day option implied volatility is at 30; compared to its 52-week range of 26 to 46. Call put ratio 10.9 calls to 1 put on active May weekly and June weekly calls.
Skydance awaits word on its enhanced bid for Paramount https://t.co/Td0n8gczDI https://t.co/VmOjlkXQvY
A rep for Shari Redstone’s NAI said in a statement to Variety, “We received the financial terms of the proposed Paramount/Skydance transaction over the weekend and we are reviewing them.” https://t.co/LKlKNVIwwC
🔵 SKYDANCE AWAITS WORD ON ITS ENHANCED BID FOR PARAMOUNT Full Story → https://t.co/snPDX23UBf Skydance Media on Monday was awaiting a response to its enhanced bid for entertainment conglomerate Paramount Global, in which it offered to buy nearly half of the nonvoting…
How Much Cash is Skydance Offering Paramount B Shareholders Now? $PARA https://t.co/dn2QE3HgVN
Shari's Choice: Paramount's Future in the Balance as Redstone Weighs Skydance's Revised Deal https://t.co/oFn7zkgISN
Skydance's David Ellison nearing deal for Paramount after sweetened offer https://t.co/kLqBcJrqei
Skydance’s David Ellison near deal for Paramount; could mean preservation of Melrose lot other bidders wanted to carve out https://t.co/c4ymB0ex9o
David Ellison’s Skydance Media is close to clearing a major hurdle in its pursuit of Paramount Global. https://t.co/FR75osM6go
The special committee established by Paramount Global’s board of directors has reached an agreement with David Ellison’s Skydance Media on a deal that would merge Skydance and Paramount while keeping Paramount publicly traded, Variety has confirmed. https://t.co/rLnfflqO6y
Oracle co-founder Larry Ellison's son David’s latest Paramount bid includes a $15-a-share sweetener. https://t.co/JJbiXGGUpm
Paramount, Skydance Agree on New M&A Deal Terms but Shari Redstone Hasn’t Approved Pact Yet https://t.co/LKlKNVJ4ma via @variety
Paramount, Skydance Agree on New M&A Deal Terms but Shari Redstone Hasn't Approved Pact Yet https://t.co/rLnfflqgh0
Paramount and Skydance Agree to Deal Terms as Merger Inches Closer, Shares Rise Over 7% https://t.co/iOVeUjBiII
Paramount and Skydance reach a deal on an $8 billion merger https://t.co/2hbn0YV4ad https://t.co/LJngRR4oXS
📣 JUST IN: $PARA Paramount, Skydance Agree on $8B Merger Deal $NFLX $SONY $WBD $DIS $AMZN $GOOGL $FUBO 👉 Key Highlights: 📍 Paramount Global and Skydance agree on merger terms, deal valued at $8 billion. 📍 Skydance to pay $2 billion for Paramount’s parent company,… https://t.co/SabbnNwcEE https://t.co/jRcb73ckzQ
Paramount-Skydance Agree To Merger Terms https://t.co/DnUdcT6hzI https://t.co/L0z0ZO2S29
UPDATE: Paramount Nears Finish Line With Skydance On Eve Of Shareholder Meeting And Town Hall https://t.co/RAFD1L9Qzr
Paramount Global and Skydance Media have reached a merger agreement per @CNBC. Reports indicate Skydance and RedBird Capital would own 2/3 of Paramount. Paramount saw record viewership for Super Bowl LVIII coverage across CBS and Nickelodeon. https://t.co/5S1M1piKRI
NEWS: Paramount Global and Skydance Media have reached a merger agreement per @CNBC. Reports indicate Skydance and RedBird Capital would own 2/3 of Paramount. Paramount saw record viewership for Super Bowl LVIII coverage across CBS and Nickelodeon. https://t.co/5S1M1piKRI
Paramount, Skydance agree to terms on $8B merger deal: report https://t.co/2yotmya366 https://t.co/ey4oIMo6Qe
Paramount & Skydance have agreed to merge (via: @CNBC) https://t.co/D1OlGpZV6J
Skydance & Redbird are poised to announce a takeover of Paramount, with an equity check totaling $8 billion. #FaberReport @davidfaber’s report here: https://t.co/7lgSGP6dtY
🚨 Skydance poised to announce takeover of Paramount, per @CNBC @davidfaber
CNBC seems to be saying the Skydance-Paramount deal is done -- but it's also reporting that Shari Redstone still hasn't signed off on the deal https://t.co/HoRpeFoXwo
Paramount and Skydance agree to terms of a merger deal https://t.co/Ui1ZTIx7Ml
Source: Paramount and Skydance agree to the terms of a merger, which will likely be announced in the coming days (@lilliannnn / CNBC) https://t.co/livYhJjTD8 https://t.co/WeKyDYrAQv
Paramount $PARA and Skydance have agreed to terms of a merger, which will likely be announced in the coming days - CNBC
📣JUST IN: $PARA Paramount and Skydance agree to terms of a merger deal Stay tuned for detailed insights...
$PARA Skydance poised to announce takeover of Paramount Global - CNBC's David Faber https://t.co/LRo3XE3Y5k
⚠️ SKYDANCE WILL TENDER FOR ABOUT 50% OF PARAMOUNT'S B SHARES AT $15 PER SHARE- CNBC **REDSTONE TO RECEIVE $2 BILLION FOR NATIONAL AMUSEMENTS- CNBC
$PARA | Skydance Poised To Announce Takeover Of Paramount; Redstone To Receive $2B For National Amusements - Skydance Will Tender For ~50% Of B Shares At $15 - Contribute $1.5B In Cash To PARA Balance Sheet - Skydance-Redbird To Own Two-Thirds PARA Post-Close
⚠️ SKYDANCE-REDBIRD TO OWN TWO-THIRDS PARAMOUNT POST-CLOSE - CNBC
$PARA ❖ SKYDANCE POSED TO ANNOUNCE TAKEOVER OF PARAMOUNT: CNBC'S FABER
SKYDANCE POISED TO ANNOUNCE TAKEOVER OF PARAMOUNT CNBC CITING SOURCES $PARA
$PARA Skydance poised to announce takeover or Paramount _ CNBC skydance will tender for ~50% of B Shares for $15
Paramount Global $PARA 30-day option implied volatility is at 64; compared to its 52-week range of 40 to 87 into shares valued around $15 in new Skydance bid, WSJ reports.
$PARA (+6.2% pre) Revised Skydance Offer Gives Paramount Shareholders Opportunity to Cash Out at Roughly $15 a Share - WSJ https://t.co/BXlK6NgQRn
Paramount $PARA shares are trading higher after David Ellison's Skydance Media made a sweetened offer to buy nonvoting shares at ~$15 each. The deal includes funds to buy out National Amusements, inject at least $1.5B into Paramount's balance sheet, and let nonvoting…
$PARA - Skydance Offer Gives Paramount Shareholders Option to Cash Out at Roughly $15 a Share https://t.co/162hc8McnJ
As Paramount Global Preps For Shareholder Meeting And Town Hall, Details Of Revised Skydance Offer Surface https://t.co/RAFD1LaooZ
Revised Skydance Offer Gives Paramount Shareholders Opportunity to Cash Out at Roughly $15 a Share $PARA https://t.co/qb0VFmN4Q4
Sources: Paramount and Skydance deal sticking points include legal expenses in case of shareholder lawsuits, potential "go-shop" period, and a shareholder vote (New York Times) https://t.co/3h4E6zhkCo https://t.co/psI0fPgps3
scoop: Skydance has now agreed to put in at least $1.5 billion to pay down debt in event of a deal, plus a $15 a share tender offer. But there's still a big issue outstanding: Who would pay for a shareholder lawsuit? w/@LaurenSHirsch $PARA https://t.co/tLi5eZHWxB
$PARA Ellison’s Latest Paramount Offer Has a $15-a-Share Sweetener, 26% Above Friday Price
Skydance reportedly sweetens its bid for Paramount https://t.co/t56LwIFo8s
🍿 REVISED SKYDANCE OFFER WOULD LET PARAMOUNT SHAREHOLDERS CASH OUT AT $15/SHR, WSJ REPORTS Full Story → https://t.co/zklQXNttfu Skydance Media last week revised its offer for Paramount Global to buy up to a certain number of non-voting Paramount shares at $15 each, the Wall… https://t.co/GuDBDvJWCu
Revised Skydance offer would let Paramount shareholders cash out at $15 per share, WSJ reports https://t.co/9TFtscxsbT https://t.co/ghmebHxUHZ
Skydance Offers Paramount Shareholders a $15 per Share Cash-Out Option as Deal Nears https://t.co/XlTE0qoTaZ
Film producer David Ellison’s offer for Paramount Global includes an option for nonvoting shareholders to cash out a portion of their stock at $15 a share https://t.co/29uWhxlUqo
SCOOP: Skydance Media’s revised offer for Paramount Global gives the entertainment conglomerate’s nonvoting shareholders an option to cash out at around a 26% premium $PARA --sources w/@miriamgottfried https://t.co/1cnGwCveuB via @WSJ
SCOOP: Skydance revised offer would give nonvoting shares ability to cash out at around $15 a share-sources...story tk
Sources: a Paramount special committee approved the sweetened offer from Skydance; Paramount's board, chaired by Shari Redstone, will vote on the deal June 4 (Financial Times) https://t.co/DJBHP4hCJb https://t.co/oXHIMHWViH
Paramount Special Committee Recommends Revised Offer From David Ellison’s Skydance Media https://t.co/2K79wDZ40l
Paramount directors support sweetened offer from Ellison’s Skydance https://t.co/naLxhG5OTr
Paramount Global directors evaluating a bid for the film and TV giant endorsed a takeover offer by independent producer David Ellison's Skydance Media https://t.co/5Jy1xZeICk Probably the best offer $PARA will get. Mishmash will eventually get carved up, regardless of promises
Paramount’s special committee recommends Skydance deal to Shari Redstone: report https://t.co/bZY5LpQrMh https://t.co/dbd6nGfJnW
Paramount's special committee agrees to recommend Skydance deal, WSJ reports https://t.co/zfVOu4Dm2H https://t.co/rsJIqFC2LT
🔵 PARAMOUNT'S SPECIAL COMMITTEE AGREES TO RECOMMEND SKYDANCE DEAL, WSJ REPORTS Full Story → https://t.co/kPS4UercUY A special committee of the Paramount Global's board agreed to recommend a deal with Skydance Media, the Wall Street Journal reported on Friday, citing people… https://t.co/jgu4R6anft
Exclusive: Shari Redstone in coming days will weigh whether to approve a merger of Paramount with Skydance, or pursue a sale of her family’s holding company at a premium https://t.co/Unb70imcQh https://t.co/Unb70imcQh
Paramount Global directors evaluating a bid for the film and TV giant endorsed a takeover offer by independent producer David Ellison's Skydance Media https://t.co/Blk9oYthdb
$PARA Paramount Global directors are evaluating a sweetened bid from Skydance/David Ellison for non-controlling shareholders. - Unfortunately, the terms are not all public and I do not have a full grasp on the deal - It will be a multi-step process, Ellison will buy Shari…
Shari Redstone Faces a Choice: A Deal for Paramount or Her Family Company https://t.co/NjkYIiTx2G
The Paramount directors may be recommending the Skydance deal but that does not mean the deal happens as Redstone weighs her options https://t.co/TvE7hufAPF via @WSJ
Shari Redstone Faces a Choice: A Deal for Paramount or Her Family Company w/@laurenthomas https://t.co/HB8LrYkXua via @WSJ
*Paramount Directors Have Agreed to Recommend Latest Merger Offer From Skydance, Sources Say -- WSJ *Paramount Controlling Shareholder Shari Redstone Has Received Expressions of Interest From at Least Two Parties for National Am $PARA
🔵 PARAMOUNT GLOBAL'S CO-CEOS TO HOST TOWN HALL ON WEDNESDAY Full Story → https://t.co/aFi9dGcaz8 Paramount Global's co-CEOs will host a town hall for its staff on June 5, according to an email seen by Reuters on Friday. https://t.co/okpGcwL6jz
Skydance sweetens offer for Paramount Global, source says https://t.co/yypxhmNq0Q https://t.co/C2nGNSypj1
Skydance Sweetens Merger Offer for Paramount $PARA https://t.co/jyvjfmerJK
$PARA | Paramount Global Shares Rise As Directors Prepare To Review Enhanced Merger Proposal From Skydance: Report Paramount Global shares jumped Thursday as its independent committee prepares to review Skydance's revised merger proposal. Skydance's updated offer is expected to… https://t.co/5HdkFzUPCQ
Skydance sweetens offer to buy Paramount https://t.co/GB4S0cYW9b