Paramount Board Special Committee Confirms Skydance Merger Will Close In First Half Of 2025, Says “Go-Shop” Period Has “Concluded”
deadline.comA special committee of Paramount Global‘s board set up to steer its M&A process has declared an end to the “go-shop” period in its pending Skydance Media merger and says the transaction will close in the first half of 2025.
In a statement tonight following the withdrawal of a rival bid led by Edgar Bronfman Jr., the committee acknowledged having received word that the offer had been withdrawn.
The emergence of that alternative to David Ellison‘s Skydance had earlier prompted the committee to extend the “go-shop” for an additional 15 days, through September 5. “On behalf of the Special Committee we thank Mr.
Bronfman and his investor group for their interest and efforts,” said Charles E. Phillips, Jr., Chair of the Special Committee. “Having thoroughly explored actionable opportunities for Paramount over nearly eight months, our Special Committee continues to believe that the transaction we have agreed with Skydance delivers immediate value and the potential for continued participation in value creation in a rapidly evolving industry landscape,” he added.
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