11:32 AM EDT, 04/05/2024 (MT Newswires) -- (Updates with details in the third paragraph.)

Paramount Global ( PARAA ) would continue to trade publicly under an offer made by Skydance Media, CNBC reported Friday, citing four people familiar with the parameters of the offer.

Under the terms of the deal, Skydance would own either a substantial minority stake or a majority stake in Paramount via merging its assets and raising new equity, according to CNBC.

A consortium that includes Skydance and its private-equity partners could have a stake of about 45% or just above 50% in the new company, where Skydance Chief Executive David Ellison could have a leadership role if a deal is approved, the report said.

CNBC said spokespersons for Paramount and Skydance declined to comment.

Neither Paramount nor Skydance could be reached for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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