12:04 PM EDT, 04/11/2024 (MT Newswires) -- Paramount Global's ( PARAA ) management and Skydance are holding meetings, and Skydance is expected to launch a due diligence process next week for a possible merger, CNBC reported Thursday, citing unnamed sources with knowledge of the matter.

According to CNBC, the two companies are negotiating an exchange ratio in which Paramount would buy Skydance as part of a possible merger.

A special committee needs to agree to a merger of Skydance into Paramount, according to the report.

A Paramount spokesperson declined to comment to 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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