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A Paramount Global (NASDAQ:PARA) deal with Skydance Media is expected to be completed by the weekend. Paramount jumped 15% in premarket trading.
A transaction to purchase Paramount (PARA) controlling holder National Amusement and merge it with Paramount could happen as soon as Friday, according to CNBC’s David Faber, who cited people familiar with the matter.
The terms of the revised deal are largely the same as the deal that was scuttled last month, except that there will now be $100 million for National Amusements and $100 million for indemnification, according to Faber. Paramount controlling holder Shari Redstone will receive $1.75 billion for National Amusements.
Skydance still plans to acquire 50% of Paramount Class B (PARA) shares for $15 each, Faber explained.
Several media outlets reported late Tuesday that Paramount (PARA) came to agreement on preliminary terms to merge with Skydance Media, a deal that had fallen apart last month.