Paramount Global Stock Surges As Skydance Looks To Seal Deal – Update
deadline.comUPDATED with stock price: Shares of Paramount Global jumped more than 15% Wednesday afternoon with Skydance chief David Ellison in pole position to clinch a majority stake of National Amusements.
Led by Shari Redstone, National Amusements operates a movie theater circuit and also controls more than three-quarters of Paramount’s voting shares.
A report in Bloomberg just prior to the closing bell indicated that a tentative agreement had been reached between Ellison, a longtime business partner on film and TV projects with Paramount, and Redstone.
Deadline earlier Wednesday had reported that the parties had established a 30-day exclusive negotiating window. PREVIOUSLY: Paramount Global and David Ellison’s Skydance Media have set an exclusive negotiating period for merger talks, Deadline has learned, a sign that things are moving forward after months of speculation.
Read more on deadline.com
