Skydance Media Gets Board Committee Approval For Control Of Paramount Global After Lengthy Chase
What is the "go-shop" provision in the current agreement?
The "go-shop" provision in the current agreement is a 45-day period allowing National Amusements Inc. chief Shari Redstone to seek and consider alternative offers for Paramount Global. This provision is active after the proposed acquisition by Skydance Media received a key approval vote and aims to ensure the best deal possible for shareholders.
What did Skydance Media recently gain approval for?
Skydance Media recently gained approval for its proposed acquisition of Paramount Global controlling shareholder National Amusements Inc1. The deal was blessed by a special committee of Paramount's board, and the full board is expected to consider the proposal. This marks a key milestone in the acquisition process.
Who controls the majority of Paramount Global's voting shares?
National Amusements Inc., controlled by Shari Redstone, owns 77% of Paramount Global's voting class A common stock.