M&A · Tech · Television Broadcasting Stations
Skydance Media, LLC to acquire Paramount Global
Announced Jul 7, 2024 · Closed Aug 7, 2025
Deal value$4.75BEV $4.75B
Premium48.0%To unaffected price
EV / Adj. EBITDA3.6x0.2x EV / Revenue
ConsiderationCash and stock$23.00 per share
Transaction
- Acquirer
- Skydance Media, LLC
- Target
- Paramount Global (PARA)
- Buyer type
- Strategic
- Offer price per share
- $23.00
- Enterprise value
- $4.75B
- Status
- Closed Aug 7, 2025
Deal protections
- Break fee (target pays)
- $400M · 8.4%
- Reverse fee (buyer pays)
- —
- Go-shop
- Go-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- BofA Securities, Moelis, Raine
- To the target
- Centerview, Rothschild & Co
- Centerview fee
- $2.5M
Sector context · Tech
- Comparable deals
- 56 in the prior 24 months
- Premium
- 48.0% vs. 46.0% sector median
- EV / Adj. EBITDA
- 3.6x vs. 16.3x sector median
- Break fee
- 8.4% vs. 3.0% sector median
Timeline
- AnnouncedJul 7, 2024
- Proxy filedFeb 13, 2025
- Definitive proxyFeb 13, 2025
- Shareholder vote—
- ClosedAug 7, 2025
Valuation · fairness opinions
52-week trading range$10.05$17.10
Offer $23.00
Implied value per Paramount Global share by analysis, from Centerview · DCF discount rate 8.5%–10.5%.