Paramount Global Shares Surge on Potential Takeover Interest

Skydance and Redbird Capital are reportedly exploring a takeover as Paramount faces declining revenue and streaming losses.

Paramount Global shares surged following reports that Skydance and Redbird Capital were exploring potentially taking over the media giant.
Paramount's controlling shareholder, Shari Redstone, has been open to making big deals, especially as the company weathers declining revenue and streaming losses.
Paramount has a long-term debt load of $15.6 billion, and investors have speculated about how the company will be able to forge a path in 2024.
National Amusements owns 77.3% of Paramount Global’s Class A (voting) common stock and 5.2% of its Class B common stock.
Paramount and Apple are in talks to bundle Paramount+ and Apple TV+ at a discounted price.