After some production delays, a heavy-hitter roster of law firms, including Sullivan & Cromwell, Latham & Watkins, Ropes & Gray, Simpson Thacher & Bartlett and Cravath, Swaine & Moore, finally pushed the long-anticipated Paramount merger through.
Under the structure of the deal, Skydance Media acquired National Amusements, the controlling shareholder for Paramount, followed by a merger between Skydance and Paramount Global. The new entity will be called “New Paramount,” with an enterprise value of $28 billion, according to a news release on the deal.
