04:02 AM EDT, 07/08/2024 (MT Newswires) -- Paramount Global ( PARAA ) said Sunday that its board's special committee has approved the company's merger agreement with Skydance Media.

The special committee was formed in January at the request of Paramount's controlling stockholder, National Amusements, to evaluate potential transactions, the company said.

The merger agreement includes a 45-day go-shop period, which allows the special committee and its representatives to actively solicit and consider alternative acquisition proposals.

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