10:14 AM EDT, 06/03/2024 (MT Newswires) -- (Updates with additional details.)

Paramount Global ( PARAA ) and Skydance have agreed to terms of a merger that is expected to be announced in the coming days, CNBC's David Farber reported Monday.

The proposed deal is awaiting a response from Shari Redstone, Paramount's controlling shareholder, the report said.

Redstone is set to receive $2 billion under the deal for National Amusements, according to the report.

Paramount declined MT Newswires' request for comment, while Skydance did not immediately respond.

Paramount's shares were up 7.7% in recent trading.

(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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