Paramount, Skydance set August 7 closing date for merger transaction

Paramount Global (NASDAQ: PARA, PARAA) and Skydance Media announced the merger transaction is expected to close on August 7, 2025, subject to customary closing conditions.

The companies established election deadlines for Paramount stockholders to choose their form of consideration. Record holders must submit elections by 5:00 p.m. New York time on July 31, 2025. Current and former employees holding shares through Morgan Stanley Stock Plan accounts and 401(k) plan participants face an earlier deadline of 4:00 p.m. New York time on July 28, 2025.

Stockholders who fail to make an election by the applicable deadline will automatically receive stock consideration. Those holding shares through brokers may face earlier deadlines set by their financial institutions.

Following the transaction's completion, the combined company's Class B common stock will trade on Nasdaq under the ticker symbol "PSKY." Paramount's current Class A (PARAA) and Class B (PARA) shares will cease trading after the closing.

The transaction stems from an agreement dated July 7, 2024, between Paramount, Skydance, and New Pluto Global, Inc. If the closing date changes, election deadlines will be adjusted accordingly, with the companies committing to announce any delays promptly.

Stockholders seeking assistance can contact Equiniti Trust Company at (866) 595-1717 for election materials or D.F. King & Co. at (800) 901-0068 for transaction-related questions. New Pluto Global filed an information statement with the Securities and Exchange Commission on February 13, 2025, as part of the registration process.

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