After long months of negotiations, the transaction arranged between audiovisual giant Paramount Global and movie and TV studio Skydance Media for the acquisition of the former has been confirmed. Announced on July 7, the agreement provided for a “go-shop” period during which Paramount could seek new offers. In the late hours of August 26, the Special Committee set up by Paramount to assess the proposals for acquisition issued a statement closing the door on the “go-shop” period because there were no other bids on the table.

The acquisition has therefore been confirmed. Paramount Global expects the transaction to close “in the first half of 2025”. By virtue of the agreement, the deal is divided into two steps: first Skydance is to acquire National Amusements (NAI), which holds 77% of Paramount Global’s voting shares and is owned by Shari Redstone, and then Paramount Global and Skydance Media are to merge into a single company.

Paramount Global noted that representatives of the Special Committee had contacted more than 50 third parties in the “go-shop” period, during which a consortium of investors led by US media entrepreneur Edgar Bronfman Jr. had made an interesting proposal. Upon the last-minute withdrawal of the offer, the Special Committee decided to conclude the “go-shop” period. According to some US media outlets, the bid was very attractive but the consortium considered that it was impossible to submit all the documentation required for the acquisition in due time.