Paramount Holder Matrix Raises Concerns Over Skydance Proposal

Matrix Asset Advisors has raised concerns over a proposal that would see Paramount Global sell its voting stock and then merge with David Ellison’s production company Skydance Media.

• Matrix calls offer “sub-optimal” and “significantly dilutive to shareholder value” in letter to Paramount’s board
• NOTE: Ellison and his backers have proposed to pay more than $2B for Shari Redstone’s National Amusements, the family company that controls Paramount; Paramount would then merge with Skydance in $5B deal
  • Paramount’s non-voting holders would get shares in combined firm
  • Parties last week agreed to negotiate exclusively for 30 days; deal not certain, terms ...