(Image Source: Paramount Global, Skydance Media)
The Skydance Media-led acquisition of Paramount Global recently hit a roadblock when a judge ordered a 14-day halt to the transaction, following antitrust lawsuits filed by several U.S. state governments. Today, that suspension has been significantly extended. Skydance Media has now reached an agreement with attorneys general from multiple states, consenting to postpone the acquisition's transaction until the conclusion of the antitrust trial. This trial is not expected to conclude until June of next year, effectively delaying the deal by nearly a year.
(Image Source: Paramount Global, Skydance Media)
Under the terms of the agreement, Skydance Media has consented to restart the transaction process either five days after the trial concludes or on June 1, 2027, whichever date is later. If the trial concludes before June 1, 2027, and no antitrust violations are found, the deal could get back on track sooner. However, a court date for the trial has not yet been set. Furthermore, if Skydance Media fails to finalize the acquisition by September 30 of this year, it will be contractually obligated to pay a daily extension fee of $7 million to Paramount Global shareholders from that point onward.