Paramount and Skydance Announce Anticipated Closing Date and Election Deadlines for Merger Consideration

Paramount and Skydance are set to close their merger on August 7, 2025. Shareholders have key election deadlines: July 28, 2025, for Morgan Stanley Stock Plan Accounts and the Paramount Global 401(k) Plan, and July 31, 2025, for all others. Post-merger, the new company will trade on Nasdaq under the ticker symbol "PSKY."

Paramount Global and Skydance Media are poised to close their merger on August 7, 2025, following the Federal Communications Commission's (FCC) approval on July 25, 2025 [1]. The $8 billion-plus transaction, which received the FCC's blessing, marks a significant milestone for both companies. The new entity will trade on the Nasdaq under the ticker symbol "PSKY."

Shareholders have key election deadlines to consider. For Morgan Stanley Stock Plan Accounts and the Paramount Global 401(k) Plan, the deadline is July 28, 2025. For all other shareholders, the deadline is July 31, 2025. Shareholders who do not make an election before these deadlines will automatically receive stock in the new entity. The value on Paramount Class B shares stipulated in the merger agreement is $15 [2].

The merger comes amidst a period of significant change for Paramount, including the departure of co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins. The trio, who were elevated to the Office of the CEO after the ouster of Bob Bakish in the spring of 2024, called it "a great honor" to have led the company [1]. The new company will be led by David Ellison of Skydance, with the former CEO of NBC Universal, Jeff Shell, identified as a possible president.

The merger also brings uncertainty regarding the future of CBS News, especially given the $16 million lawsuit filed by President Donald Trump against CBS News, alleging political bias. The new company has appointed a grievance secretary to investigate these complaints, with the role expected to be filled by Kelly McBraide, an ethics expert who previously held the role at NPR [2].

The integration of Paramount's properties, including CBS News, will be a key focus for the new leadership. The merger also combines Paramount's movie studio with one of its most regular partners, Skydance, which has been a major investor and producer in the field since its establishment in 2006.

References:
[1] https://deadline.com/2025/07/paramount-reveals-closing-date-of-skydance-merger-1236469123/
[2] https://investorempires.com/goodbye-colbert-hello-bari-weiss-paramount-stands-at-fork-in-the-road-after-finally-winning-fcc-approval/