Reported about 1 year ago
Paramount Global shares rose after a merger deal with Skydance Media, led by Larry Ellison's son David, is being revived. Skydance has reached a preliminary agreement to buy National Amusements Inc. for $1.75 billion and merge with Paramount. National Amusements will refer the deal to a special committee of Paramount directors for review. The agreement includes higher valuation terms and indemnification language. The sellers have 45 days to seek better offers, and Paramount is in exclusive talks to sell BET network for $1.6 billion to $1.7 billion.
Source: YAHOO