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Paramount Global stock fell 5% on Monday as investors absorbed details of the company’s merger agreement with Skydance Media.
The companies are targeting a closing of the deal in the third quarter of 2025. Skydance and its backers are investing $8 billion in Paramount in a transaction assigning the company an enterprise value of $28 billion.
Paramount stock, which has already fallen 22% in 2024 to date, closed at $11.18, down 5% for the day. Trading volume was about twice its normal level.
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The company’s dual-class structure, a not-uncommon setup for media stocks, gave preference to holders of Class A (voting) shares. National…
