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A special committee of Paramount Universal (NASDAQ: For) Board of Directors has agreed to an agreement with Skydance Media.
The special committee approved the sale to Skydance on Sunday, according to media reports including Bloomberg, The Wall Street Journal and The New York Times.
Under the agreement, Skydance will acquire Paramount parent company National Amusements with an equity value of $1.75 billion. Skydance would then merge with Paramount.
The two sides still need to sign the deal and could announce it as early as Sunday night or Monday morning, according to the Wall Street Journal. Bloomberg reported that the full board of directors will approve the deal, with the two sides signing final documents on Sunday and making an announcement as soon as Monday.
Multiple media outlets reported late Tuesday that Paramount ( PARA ) had agreed on preliminary terms for a merger with Skydance Media, a deal that collapsed last month.
