Skydance Media and Paramount Global Move Closer to Sale Agreement But Deal is Far From Done
variety.comCynthia Littleton Business Editor David Ellison’s Skydance Media is moving closer to its goal of acquiring Paramount Global after a key vote was taken by Paramount board members.
But a formal takeover deal between Skydance and Paramount is still far from in the bag. Bloomberg News reported Sunday that the special committee of Paramount Global’s board of directors tasked with reviewing M&A options has agreed to revised terms for a merger with Skydance.
The pact will now be reviewed by the full board of the parent company of Paramount Pictures, CBS, Nickelodeon, Paramount+, Showtime, MTV and more.
If the deal passes muster with the board, most specifically controlling shareholder Shari Redstone, Skydance and Paramount are expected to announce the agreement Monday as early as before the markets open at 9:30 a.m.
Read more on variety.com