Wall Street bankers, lawyers losing out on hundreds of millions after Paramount's scrapped Skydance merger: sources [Yahoo! Finance]
Paramount Global - Class A (PARAA)
Company Research
Source: Yahoo! Finance
last-minute decision to scrap plans to merge Paramount with Skydance Media, sources close to the talks said. Redstone, the 70-year-old media heiress, pulled the plug Tuesday on a deal to sell Paramount Global parent National Amusements to Skydance — even as a special committee of the media giant's board was expected to meet to vote on a Paramount merger proposal. Suitors in mergers typically pay greatly reduced fees if they can't complete their deals. The Paramount-Skydance deal had an unusually large number of bankers and attorneys working on what they thought would be a landmark agreement. “We grinded for months and months on this deal,” a banker who worked on the deal told The Post. “I feel so badly for the Paramount employees and shareholders. They really had an excellent deal and Paramount would have gotten a second chance to grow.” Paramount shares have tanked more than 8% since news broke that the merger was called off, erasing more than $1 billion in market capitalizat
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PARAA
News
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- For Wall Street deal makers, the billion-dollar bangers are back [Business Insider]Business Insider
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- The Hollywood Cuts Keep Comin' As Disney Does Another Worker Cleanse [Forbes]Forbes
PARAA
Earnings
- 8/8/24 - Beat
PARAA
Sec Filings
- 8/27/24 - Form 4
- 8/27/24 - Form 425
- 8/27/24 - Form 8-K
- PARAA's page on the SEC website