Paramount stock slumps on reports that Skydance merger would require company to raise new equity
Publishing timestamp: 2024-04-04 13:21:41
Summary
Paramount's stock fell as CNBC's David Faber reported the company may need to raise new equity to merge with Skydance Media. Shari Redstone is reportedly in talks to sell her stake to Skydance's David Ellison, while also in exclusive merger discussions. Stock slumped 8% on Thursday, but jumped after reports of rejected $26 billion offer from Apollo Global Management. Redstone is looking to sell Paramount amid talks with Warner Bros Discovery.
Sentiment: MIXED
Keywords: david faber, shari redstone, warner bros discovery inc, paramount global, business news, entertainment, apollo global management inc,
Source: https://www.cnbc.com/2024/04/04/paramount-stock-slumps-on-reports-of-equity-raise-for-merger.html