David Ellison’s Skydance has submitted a revised offer to the special committee of the Paramount Global board, aiming to gain control of the company.
Details of the new offer are not yet available, but updates will be provided as soon as they are. The revised proposal is likely intended to appeal to Paramount investors beyond Shari Redstone, the controlling shareholder, which was a request made by her family holding company NAI.
NAI, or National Amusements, is the entity through which Redstone controls Paramount.
This offer is said to be the final and best offer, and it comes as the one-month exclusive negotiating period between Skydance and Paramount Global is set to conclude on May 3, though this deadline could potentially be extended.
The offer also coincides with a transition period for Paramount, as CEO Bob Bakish is expected to depart, with a temporary replacement being a trio of division heads.
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