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Skydance Proposes Revised Acquisition Offer for Paramount Shares

Skydance Media has presented Paramount Global with an enticing proposal aimed at acquiring a significant portion of Paramount's non-voting shares. The revised offer, priced at $15 per share, represents a substantial 26% premium over Paramount's B-share closing price on the previous Friday.

This enhanced bid, which comes after a period of negotiation between the two entities spanning several months, aims to provide Paramount shareholders with an attractive opportunity to cash out their holdings at an appealing valuation. Skydance Media's proposal underscores its commitment to pursuing a strategic merger with Paramount, offering improved terms for both voting and non-voting shareholders while injecting additional cash into the deal.

The proposal follows earlier interest from Sony Pictures Entertainment, in collaboration with Apollo Global Management, who had initially submitted a non-binding all-cash offer totaling $26 billion for Paramount. However, Sony Pictures Entertainment has since altered its approach, opting for a more limited strategy, thereby paving the way for Skydance Media's renewed bid to take center stage.

Reports indicate that a special committee of Paramount's board has given its endorsement to the deal with Skydance Media following the submission of the enhanced offer. This endorsement underscores the confidence of Paramount's board in the viability and attractiveness of Skydance Media's proposal, signaling a potential turning point in the ongoing negotiations between the two entities.


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