USA: merger of Paramount Global & Skydance Media into an entity valued at $28bn

US conglomerate Paramount Global and US production company Skydance Media have entered into an agreement to merge their businesses to form "New Paramount", a "next generation media and technology leader," announced the two parties on 07/07/2024.

Skydance Media, together with its investors, including the US fund RedBird Capital Partners, will initially acquire the US company National Amusements (which operates cinemas in the USA, the UK & Latin America), currently the majority shareholder in Paramount, for $2.4bn (€2.2bn). Skydance will then buy the remaining shares for $4.5bn (€4.15bn) and inject $1.5bn (€1.38bn) into the new entity. The new entity will be valued at $28bn on completion of the transaction.

Paramount Global owns the CBS media group and the Paramount+ streaming platform. In particular, it holds the English-language broadcasting rights in the United States to the men's European club competitions (Champions League, Europa League and Conference League) until 2030, the NFL (2023-2033) and the WNBA (rights extended from 2024).

• The company will be led by Jeff Shell (CEO of…