Paramount Stock Falters As Investors Sweat Details Of Skydance-National Amusements Talks
deadline.comParamount Global‘s beleaguered stock faltered Monday as investors fretted over the ongoing talks between controlling shareholder National Amusements Inc.
and Skydance Media. As the moon blocked out the sun across a swath of the U.S. in a total eclipse, the stock behaved accordingly, falling almost 8% on heavier-than-average trading volume to finish at $11.06.
The shares, which have lost nearly half their value over the past year, retreated amid numerous reports about how a tentative deal between David Ellison‘s Skydance and Shari Redstone‘s National Amusements would be structured.
While NAI controls more than three-quarters of Paramount’s voting shares, it has only about 10% of the company’s equity, posing a risk of dilution for a number of other shareholders.
Read more on deadline.com