'Skydance's Offer For Paramount Global Would Give It A Large Stake While Keeping The Company Public' - CNBC
Portfolio Pulse from Benzinga Newsdesk
Skydance Media, RedBird Capital, and KKR are in exclusive talks with Paramount Global for a significant stake, potentially leading to a merger with Skydance's studio. The deal, still under negotiation, could see Skydance and partners owning around 45% to just over 50% of Paramount Global. The transaction aims to transform Paramount into a more future-focused media company, leveraging Oracle's technology. Paramount Global's financial struggles include a 1.7% revenue decline in 2023 and a downgrade to junk status by S&P Global Ratings. Other potential buyers like Apollo Global Management and Warner Bros. Discovery have shown interest in Paramount Global.
April 05, 2024 | 3:12 pm
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Paramount Global is in exclusive talks with Skydance Media, RedBird Capital, and KKR for a significant stake acquisition. The deal could lead to a merger, transforming Paramount into a more future-focused media company.
The potential acquisition and merger with Skydance Media and its partners could provide Paramount Global with the necessary resources and strategic direction to overcome its current financial struggles and adapt to the future media landscape. The involvement of Oracle's technology through Larry Ellison's funding could further enhance Paramount's capabilities, making this deal highly relevant and potentially beneficial for Paramount Global's stock in the short term.
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