---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-175027"
form_type: "8-K"
ticker: null
cik: "0000813828"
company_name: "Paramount Global"
filed_at: "2025-08-07T23:59:59+00:00"
generated_at: "2026-05-17T18:41:14.160655+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Paramount Global completes merger with Skydance Media; cash and stock consideration paid

## Summary
- Merger closed August 7, 2025; Paramount becomes wholly owned subsidiary of Paramount Skydance Corp.
- Class A shareholders received $23.00 cash or 1.5333 Class B shares; Class B shareholders $15.00 cash or stock.
- Aggregate cash consideration ~$4.45B; ~318.8M New Paramount Class B shares issued as stock consideration.
- Skydance unitholders received ~313.8M New Paramount Class B shares; Skydance becomes a subsidiary.
- Paramount Skydance Corp. guarantees Paramount's existing debt and joins credit agreement; prior governance agreement with NAI terminated.

## SEC filing metadata
- accession: 0001193125-25-175027
- form_type: 8-K
- cik: 0000813828
- company_name: Paramount Global
- filed_at: 2025-08-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 1.02, 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/813828/000119312525175027/0001193125-25-175027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/813828/000119312525175027/d52142d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-175027
- JSON: https://secwatch.observer/filing/0001193125-25-175027.json
- Plain text: https://secwatch.observer/filing/0001193125-25-175027.txt

## Key facts
- Governance Changes
  Paramount Global: Amended and restated certificate of incorporation and bylaws in connection with closing of transaction (effective 2025-08-06).
  - Change: bylaw amendment
  - Effective: 2025-08-06
  source text: On August 6, 2025, in connection with the Closing and pursuant to the Transaction Agreement, Paramount amended and restated its certificate of incorporation and its bylaws in their entirety to reflect the changes contemplated by the Transaction Agreement, described in the Information Statement/Prospectus.
  evidence_url: https://www.sec.gov/Archives/edgar/data/813828/000119312525175027/0001193125-25-175027-index.htm
- M&A Transactions
  Paramount Global underwent a change of control involving Skydance Media, LLC (closed 2025-08-07).
  - Action: change of control
  - Counterparty: Skydance Media, LLC
  - Closing: 2025-08-07
  source text: This Current Report on Form 8-K is being filed in connection with the completion on August 7, 2025 (the “ Closing Date ”) of the transactions contemplated by the Transaction Agreement, dated as of July 7, 2024 (the “ Transaction Agreement ”), by and among Paramount Global, a Delaware corporation (“ Paramount ”), Skydance Media, LLC
  evidence_url: https://www.sec.gov/Archives/edgar/data/813828/000119312525175027/0001193125-25-175027-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.