Simpson Thacher, Latham Steer Paramount Merger With Skydance (1)

Simpson Thacher and Latham & Watkins are the top legal advisers on Paramount Global’s long-awaited merger with Skydance Media.

Simpson lawyers are guiding Paramount on the deal, touted to form “New Paramount” with an estimated enterprise value of $28 billion, according to the firm. Latham is advising Skydance in the transaction, which has been months in the making.

The deal ends the Redstone family’s control of Paramount. Shari Redstone, Paramount’s chair, agreed to sell her family’s National Amusements Inc. for $2.4 billion. National Amusement owns about 77% of the voting stock in Paramount.

Simpson Thacher’s team includes partners Katherine ...