Skydance Media has made a final offer to merge with Paramount Global, as reported by Bloomberg. The Redstone family and David Ellison are working to make the change in control at Paramount more attractive to smaller investors by making concessions.
Ellison plans to purchase a block of Paramount shares at a premium price, while the Redstones have agreed to give nonvoting shareholders a say in the decision-making process regarding a potential transaction.
Despite these efforts, Paramount's special committee has not yet reached a decision on whether to accept the deal with Ellison due to opposition from other investors. CNBC has also reported that CEO Bob Bakish is expected to be fired as early as Monday morning. Bakish will not be present at the earnings call scheduled for Monday, where the company is set to announce its Q1 2024 financials.
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