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Skydance is close to finalizing a deal to acquire Sumner Redstone's stake in Paramount Global. The potential deal has caused fluctuations in Paramount's stock price, with shares initially spiking nearly 15% but later dropping 5% due to concerns over the consortium offer. The offer would grant the Skydance/RedBird/KKR consortium a 45-50% stake in the new publicly traded company, with David Ellison leading and Jeff Shell playing a significant role. CNBC reports suggest that the Skydance media company board aims to maintain Paramount as a public entity, potentially retaining a minority stake.
Paramount $PARA lower as CNBC has said that the Skydance media company board wants to keep the company public (perhaps a minority stake)
Paramount Global now down 5% after my story on more specific structural details of the Skydance consortium offer... https://t.co/tcUEhz0SZh
Some new details on Skydance's offer for Paramount Global *The offer would give the Skydance/RedBird/KKR consortium a 45-50% stake in publicly traded newco. *David Ellison would run newco but Jeff Shell would have a major role More here: https://t.co/y4aL91UFt7