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Skydance Media Revises Paramount Global Bid to Make It More Attractive to Noncontrolling Shareholders
Skydance Media submitted a new offer for Paramount Global intended to be more attractive to noncontrolling shareholders.
The broad outlines remain the same on the offer from Skydance, headed by producer David Ellison, and financial backers RedBird Capital Partners and KKR. Sources did not have details on how much additional upfront cash Skydance is willing to commit or how much of the capital would be reallocated to Paramount Global’s Class B shareholders under the revised offer. Redstone, nonexecutive chair of Paramount Global, had entered into an exclusive negotiating period with Skydance to sell her stake in National Amusements Inc.; that window had lapsed in April.
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