Paramount Stock Appears as Redstone Engages in Exclusive Talks with Skydance| Trending Viral hub

Actions of global paramount spiked 15% on Wednesday following a report that Shari Redstone (the company’s majority shareholder) had reached a tentative agreement to sell its stake to Skydance Media.

Bloomberg News, citing anonymous sources, reported that Redstone had reached a tentative agreement to sell its stake in National Amusements Inc. to David Ellison’s Skydance. NAI owns a nearly 80% voting stake in Paramount Global. The Bloomberg report did not include details on pricing or other terms.

However, sources said Variety that to date no sales agreement, preliminary or otherwise, has been negotiated. Representatives for Paramount Global, NAI and Skydance declined to comment on the M&A talks.

Variety reported on Tuesday that Redstone and Skydance were close to setting 30-day window for exclusive deal talks after months of discussions. According to informed sources, NAI and Skydance have now signed a provisional agreement covering such exclusive negotiations.

More to come

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