Paramount Enters Exclusive Skydance Merger Talks, Ending Redstone Control

Paramount Global’s board approved a 30-day exclusive negotiating window with Skydance Media to finalize a merger. This agreement grants Skydance one month to conduct due diligence and negotiate a definitive agreement.

The proposed deal would end Shari Redstone’s control of the media empire via National Amusements. David Ellison leads the Skydance bid with financial backing from RedBird Capital and KKR.

The transaction follows a two-step structure, starting with the acquisition of National Amusements followed by a merger of Paramount and Skydance. This exclusivity period sidelines other potential suitors, including Apollo Global Management.