Merger Between Paramount and Skydance: Key Dates and Shares
Paramount Global and Skydance Media: Merger Update
Paramount Global (NASDAQ: PARA, PARAA) and Skydance Media, LLC have exciting news for their stakeholders. These companies have been working diligently to finalize a significant transaction that will culminate in a merger designed to enhance their market impact. This merger is anticipated to close soon, with various important actions that shareholders must consider.
Key Dates for Shareholders
In preparation for this merger, shareholders are required to make important decisions regarding their stock. The anticipated closing date for the transaction is rapidly approaching. In connection with the merger, certain deadlines have been established for shareholders to elect their preferred form of consideration. The following are critical deadlines:
- For shares of common stock held by record owners, the election deadline is set for 5:00 p.m. on July 31, 2025.
- For current or former employees holding shares through their Morgan Stanley Stock Plan Account, the deadline is 4:00 p.m. on July 28, 2025.
- Shareholders participating in the Paramount Global 401(k) Plan must also adhere to the July 28, 2025 deadline at 4:00 p.m.
It is crucial that all election materials are completed and submitted properly to ensure you receive your desired allocation of stock.
Understanding the Election Process
Those holding shares through banks, brokerage firms, or nominees should be aware that each institution might impose earlier deadlines for election submissions. Consultation with your financial institution is recommended to ensure compliance with their specific requirements regarding this merger.
If a shareholder does not properly make their election by the prescribed deadlines, they will be assigned a default election for their shares. Additionally, if there is any delay in the closing date of the merger, all election deadlines will be adjusted accordingly, and information about such changes will be communicated promptly.
Trading and New Ticker Symbols
Following the completion of this merger, shares of Class B common stock of New Paramount are expected to commence trading under the new ticker symbol "PSKY" on the Nasdaq Stock Market. Meanwhile, current shareholders can expect that shares of the existing Class A and Class B common stocks will cease trading once the merger is officially concluded.
Contact for Additional Information
For those who have inquiries or need further assistance regarding the merger election process, Equiniti Trust Company, LLC can be reached at (866) 595-1717. Questions specifically related to the transaction details can be directed to D.F. King & Co., Inc. at (800) 901-0068. Paramount shareholders are also encouraged to contact their brokerage firms or nominees if they need assistance.
Frequently Asked Questions
What is the purpose of the merger between Paramount and Skydance?
The merger aims to strengthen market presence and operational efficiencies for both Paramount Global and Skydance Media.
What should I do if I miss the election deadlines?
If you miss the deadlines, your shares will default to receive the standard consideration without your choice of preference.
How will the merger affect existing shareholders?
Existing shareholders should prepare for changes in their stock representation and may have different options for their shares post-merger.
Where can I find more information about the merger?
Details regarding the merger can be referenced through official communications from both Paramount Global and Skydance.
When will the new shares begin trading on Nasdaq?
New shares under the ticker symbol "PSKY" are expected to commence trading immediately after the merger closes.
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