RedBird Capital-backed Skydance Media completed the merger with Paramount Global in an $8.4bn deal.

RedBird Capital-backed Skydance Media, an American production company based in Santa Monica, California, completed the merger with Paramount Global, a global media, streaming and entertainment company, in an $8.4bn deal. 1. Skydance will merge with Paramount in an all-stock transaction, valuing Skydance at $4.75bn, with Skydance equity holders receiving 317m Class B Shares valued at $15 per share. 2. Skydance Investor Group, comprised of the Ellison Family and RedBird Capital Partners, are to invest $2.4bn to acquire National Amusements. 3. Skydance Investor Group, will offer $4.5bn for the stock/cash merger consideration to be paid for publicly traded Class A shares and Class B shares, increasing its stake in New Paramount to 70%. 4. Skydance Investor Group will invest $1.5bn of primary capital, to be added to Paramount’s balance sheet. "Today marks an exciting and pivotal moment as we prepare to bring Paramount's legacy as a Hollywood institution into the future of entertainment. My vision is to honor exceptional storytelling while modernizing how we make and deliver content to support the world's top creative talent, enhance experiences for audiences worldwide, and create sustainable value for our shareholders," David Ellison, Paramount, a Skydance Corporation Chairman and CEO.