Paramount Global in Talks for Merger with Skydance, Faces Equity Raise Challenge

Stock fluctuates as merger discussions with Skydance Media progress, amidst rejected Apollo bid and potential equity dilution.

Paramount Global's stock slumped 8% following reports of a potential equity raise for a merger with Skydance Media, amid exclusive talks between Shari Redstone and David Ellison.
Paramount Global, parent of CBS and MTV, has been in discussions to merge with Skydance Media, founded by Larry Ellison's son, David Ellison.
Apollo Global Management made a $27 billion bid for Paramount Global, which was rejected in favor of pursuing exclusive merger talks with Skydance.
Paramount Global's stock surged nearly 15% after reports of a tentative deal to sell Shari Redstone's controlling stake to Skydance.
The merger between Paramount Global and Skydance Media would require Paramount to raise $3 billion in new equity, potentially diluting existing shares.