Exciting developments are underway as Paramount Global and Skydance Media move towards a potential merger, aiming to acquire controlling shareholder Shari Redstone. Sources familiar with the situation have revealed that Paramount Global’s special committee, responsible for evaluating transactions, and Skydance Media led by David Ellison, supported by private equity firms KKR and RedBird Capital Partners, are in the final stages of determining the valuation of Skydance’s assets for the merger. Additionally, discussions are ongoing regarding the infusion of equity into the company as part of a recapitalization.
Insiders suggest that an agreement on Skydance’s valuation is imminent, with the entertainment company expected to be valued at approximately $5 billion post-merger with Paramount Global. CEO David Ellison and the private equity firms are strategizing to raise between $4.5 billion to $5 billion in new equity, with a significant portion earmarked for various purposes, including a substantial payment…
2024-04-25 16:14:50
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