The preliminary merger deal between National Amusements, the company controlling Paramount Global, and Skydance Media appeared to have been reignited.
The Wall Street Journal first reported on the matter late Tuesday (July 2), saying that, under such an agreement, Skydance would buy National Amusements, which Shari Redstone runs, and then merge with Paramount, which owns the outlets CBS, MTV, Paramount Studios, and Paramount Plus.
People familiar with the matter told the Journal, on the condition of anonymity, that National Amusements planned to refer the new deal to a Paramount special committee of its board for review.
However, the terms were not divulged, and neither party was available for comment.
Paramount-Skydance Deal Saga
It is understood that the deal between Paramount and Skydance has been on and off for several months.
The Journal added that part of the new deal was the provision that Skydance would pay $1.75 billion to National Amusements.
VCPost reported that the deal was abandoned last month due to a shareholder dispute with National Amusements.
Paramount's shares increased by 9% in after-hours trading.
Join the Conversation