Posted 1/25/2024, 9:02:00 PM
Skydance Media Seeks to Take Paramount Global Private in Merger Deal
- Paramount Global stock climbed on news that Skydance Media wants to take Paramount private in a deal with financial backers
- The deal would involve merging Skydance with Paramount and likely taking Paramount private
- Paramount has become an attractive takeover target due to its small size compared to competitors
- Paramount announced layoffs in a memo citing the need to "operate as a leaner company"
- The memo said Paramount will focus on streaming profitability in 2024, including producing less international content