The European Commission approved on Tuesday the proposed merger of Skydance Media and Paramount Global, as well as the acquisition of National Amusements Inc. by Skydance and RedBird Capital Partners.
The Commission decided that the deal does not raise competition concerns in the European Union, "given the companies' limited market positions resulting from the proposed transaction." The resulting company, New Paramount, will be worth around $28 billion, and led by David Ellison as chairman and CEO and Jeff Shell as president.
