Historic Merger: Skydance Media and Paramount Global Unite

Skydance Media and Paramount Global have announced a merger, marking a new chapter for Hollywood. Skydance, along with its partners, will acquire National Amusements for $2.4 billion before merging with Paramount. The transaction aims to fortify Paramount's financial standing and integrate advanced technology into its operations.

In a significant development for Hollywood, Skydance Media and Paramount Global have agreed to merge, creating a formidable entertainment entity. The agreement includes a two-step process where Skydance and its partners will first acquire National Amusements, holder of the Redstone family's controlling stake in Paramount, for $2.4 billion in cash.

Subsequently, Skydance will merge with Paramount, offering $4.5 billion in cash or stock to shareholders and an additional $1.5 billion for Paramount's balance sheet. Ahead of an investor presentation, Paramount disclosed savings and revenue projections, with 2025 revenue expected to reach $32.6 billion on a pro forma basis.

This merger represents the end of an era for Shari Redstone and sets the stage for David Ellison to lead the new Paramount. With streaming services and traditional networks under strain, the merger aims to energize the business with modern technology and new leadership while navigating the challenges of the evolving entertainment landscape.

(With inputs from agencies.)