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Paramount Nears Finish Line With Skydance On Eve Of Shareholder Meeting And Town Hall – Update
As Paramount Global nears its annual shareholder meeting and an employee town hall, details are emerging about Skydance Media's latest merger offer.
While many in Hollywood, among them top filmmakers like James Cameron, have come out in support of the Skydance deal, a separate scenario involving private equity behemoth Apollo Global Management and Sony Pictures Entertainment drew a lot of fans on Wall Street. In recent months, as Skydance and its backers, including RedBird Capital, have pursued a deal, the notion of Class B (non-voting) shareholders taking National Amusements CEO Shari Redstone to court has become a realistic threat. “We had expected to see at least some longer-tail networks get dropped, so we would consider this part a win for Paramount,” wrote MoffettNathanson analyst Robert Fishman in a recent note to clients, adding that the financials of the agreement remain unknown.
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