(Reuters) – Skydance Media and Paramount International have agreed to a merger, the businesses introduced late on Sunday, marking the tip of an period for the Redstone media empire which was launched as a series of film theaters by Shari Redstone’s household in 1936.
Initially named the Northeast Theater Company, it later morphed into Nationwide Amusements, which finally turned one of many largest media firms in the USA, with Paramount Photos, CBS and Viacom beneath its umbrella.
Paramount and Skydance agreed to a two-step course of by which Skydance and its deal companions will purchase Nationwide Amusements, which holds the Redstone household’s controlling stake in Paramount, for $2.4 billion in money.
After the Nationwide Amusements acquisition, Skydance will merge with Paramount, providing shareholders $4.5 billion in money or inventory, and add $1.5 billion to Paramount’s steadiness sheet.
Listed below are the important thing occasions main as much as the deal:
