Skydance improves Paramount offer
May 31, 2024
Skydance Media has reportedly submitted an improved offer for its proposed merger with Paramount Global.
The new deal is said to offer improved terms for both voting and non-voting Paramount shareholders, and provides more cash, according to Reuters, quoting a spokesperson on condition of anonymity.
Specific details of the offer from the independent studio led by David Ellison, son of Oracle co-founder Larry Ellison, could not be detailed at time of writing.
Sony Pictures Entertainment and Apollo Global Management tabled a joint $26 million bid for Paramount in early May after Paramount’s exlclusive negotiation window with Skydance expired.
Paramount CEO Bob Bakish stepped down in April amid growing tensions within merger talks with the company’s controlling shareholder, Shari Redstone.
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