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David Ellison Set as Chairman-CEO, Jeff Shell as President of Paramount; Shari Redstone to Sell Family Empire to Skydance Media in $8 Billion Deal
A month after talks broke off, Skydance Media is moving closer to a pact to acquire Paramount Global with an announcement expected as early as Monday.
Bloomberg News reported Sunday that the special committee of Paramount Global’s board of directors tasked with reviewing M&A options has agreed to revised terms for a merger with Skydance. If the deal passes muster with the board, most specifically controlling shareholder Shari Redstone, Skydance and Paramount are expected to announce the agreement Monday as early as before the markets open at 9:30 a.m. Representatives for Paramount Global, the board’s special committee and Redstone’s National Amusements Inc. holding company did not respond to requests for comment Sunday afternoon.
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