Paramount Shares Advance On Skydance Merger But Wall Street Cautious — Now “The Real Work Begins”

Shares of Paramount are set to open higher Friday after long-awaited FCC approval for its merger erased a big question mark hovering over the company’s future, but amid ongoing uncertainty about its strategic plans under Skydance Media. The stock is up about 1% ahead of the open at $13.40. The deal calls for David Ellison’s company to pay $4.5 billion to buy out a chunk, but far from all, of the Class B shares for $15 each. Federal Communications Commission approval — authorizing the transfer of 28 license ...