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Paramount Global Stock Surges As Skydance Looks To Seal Deal In Exclusive Negotiating Window – Update
Paramount Global and Skydance Media have set an exclusive negotiating period to discuss the possible acquisition of the former by the latter.
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. Paramount Global’s finances (debt, streaming losses, negative free cash flow) are less than stellar and it’s a smaller company than its main rivals at a complex time in the media business. Last week, big ratings agency S&P lowered the company’s bonds to junk status, cited the toll of ongoing pay-TV declines and the shift toward a more competitive and more uncertain streaming model.
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