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🌎PARAMOUNT AND SKYDANCE MERGER ANNOUNCED

🌎PARAMOUNT AND SKYDANCE MERGER ANNOUNCED

Day: 08 | Time: 12:06:03 Paramount Global, one of the leading media majors, and Skydance Media, founded by David Ellison, son of Oracle founder Larry Ellison, have announced their merger in an all-stock transaction to form the new Paramount, with a corporate value of approximately $28 billion. Following the merger, Ellison intends to reposition Paramount to improve profitability, foster stability and independence for creators, and enable greater investments in digital platforms. The deal is expected to be completed in the first half of 2025. Skydance will invest over $8 billion in the new Paramount and acquire NAI. Skydance will then merge with Paramount in an all-stock transaction valued at $4.75 billion. David Ellison will serve as the CEO of the new company, while Jeff Shell will be the chairman.