New Paramount, a union of Skydance Media and Paramount, is born

The Ellison family and RedBird Capital Partners, owners of Skydance, will invest more than $8 billion to shape New Paramount, a new company that aspires to become a leading next-generation media and technology company.

Skydance Media and Paramount Global have reached a definitive agreement to form New Paramount through a Two-Phase Transaction: the acquisition of National Amusements, which owns a majority stake in Paramount, and the merger of Skydance and Paramount Global. The transaction will combine the financial resources of Skydance Investor Group , its extensive operational experience and knowledge of cutting-edge technology with IP Paramount, its extensive film library and its ability to "create hits and linear and streaming platforms" through its platforms Paramount+ and Pluto.

New Paramount aspires to become the "First Creative Destination" for story creators, as it will seek to foster creators' profitability, stability and independence, and allow for greater investment in areas of growth. Beyond fiction content, the company seeks to have a transversal catalog of "Multiple entertainment platforms", encompassing Games, sports or news.

New Paramount's management team will be led by David Ellison as Executive Chairman and Chief Executive Officer and Jeff Shell (presidente de RedBird Sports & Media y exCEO de NBCUniversal) como presidente. Ambos profesionales, con una gran experiencia operativa y conocimientos demostrados en el impulso del crecimiento de empresas creativas y de medios de comunicación, pondrán todo su conocimiento en “mejorar el rendimiento” de Paramount y aumentar su alcance y reconocimiento en el nuevo ecosistema audiovisual de medios.

Under the terms of the agreement, which has been approved by Paramount's Board of Directors, on the unanimous recommendation of the Special Committee, and by National Amusements, majority owner of Paramount's Class A shares, Skydance will merge with Paramount in a transaction that will value the new Paramount at an enterprise value of approximately $28 billion. The merger is expected to be completed in the First half of 2025, at which time it is expected to have approval from the corresponding regulatory authorities.