Reported 4 months ago
Paramount (PARA, PARAA) shares are surging as reports indicate an agreement on a deal with Skydance Media, merging the companies while keeping Paramount publicly traded. The deal includes Sha Redstone receiving around $2 billion in cash for her stake in National Amusements, merging Paramount's studio business with Skydance, and more. An announcement is anticipated in the coming days following a surge in share prices. The deal, valued at $8 billion, has been sweetened from an initial offering of $5 billion.
Source: YAHOO