Reported about 1 year ago
Skydance Media, along with its partners, is set to acquire National Amusements, which holds the Redstone family's controlling stake in Paramount Global, for $2.4 billion in cash. Subsequently, Skydance will merge with Paramount, offering $4.5 billion in cash or stock to shareholders and providing an additional $1.5 billion for Paramount's balance sheet. The aim is to position the 'new Paramount' as a tech hybrid capable of adapting to the evolving marketplace. The deal ends an era for Shari Redstone and would result in $2 billion in run-rate savings for Paramount.
Source: YAHOO