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Paramount Board Special Committee Confirms Skydance Merger Will Close In First Half Of 2025, Says “Go-Shop” Period Has “Concluded”
After a late bid led by Edgar Bronfman Jr. fizzled, Paramount's board confirmed that a planned merger with Skydance will close in the first half of 2025.
A special committee of Paramount Global ‘s board set up to steer its M&A process has declared an end to the “go-shop” period in its pending Skydance Media merger and says the transaction will close in the first half of 2025. While there is likely to be regulatory scrutiny of the transaction, especially due to the broadcast licenses owned by CBS and a portfolio of local stations in the Paramount fold, most observers see a fairly clear path to approval. Shari Redsone’s late father, Sumner, assembled the pieces of the media empire that would come to be known as Paramount, eventually ceding the stage amid a host of controversies both personal and professional.
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