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Paramount Stock Rises on New Skydance Merger Offer

Paramount Global shares rose on a renewed deal between Skydance Media and controlling shareholder Shari Redstone to merge Skydance and Paramount.

Last month shares had tumbled after Redstone nixed Skydance’s previous offer on June 11, falling to all-time lows of under $10. Crucially, what’s different in the new agreement: It includes a “go shop” provision, under which Paramount and NAI are understood to have a 45-day window to solicit an offer to match or beat Skydance’s terms. Discovery is in talks with Paramount Global for a sale or partnership between WBD’s streaming platform Max and the Paramount+ streamer — a strategy that would likely be continued if the Skydance deal goes through.

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