Paramount Stock Advances on Report of Skydance Media Deal

Key Takeaways Paramount Global (PARA) shares jumped Monday on a report that the entertainment giant had agreed to a revised purchase offer by Skydance Media. The Paramount saga has been playing out for several months, with Skydance and private equity firm Apollo Group Management (APO) separately trying to woo Redstone. In April, The New York Times reported that Apollo had been in discussions with Sony Pictures (SONY) to team up on a bid. Shares of Paramount Global, which surged more than 7% to $12.78 as of ...