Project Rise Partners Makes $13.5 Billion Bid for Paramount Global $PARA, Surpassing $8 Billion Skydance Deal

Jan 24, 2025, 07:04 PM

Paramount Global is facing a last-minute $13.5 billion offer from Project Rise Partners, as reported by Variety. This consortium of investors, which had previously bid on the company, is urging Paramount to consider their proposal over the existing $8 billion deal with Skydance and RedBird. The new offer includes $2 billion allocated for debt restructuring and a 75% premium for Class B shares, aiming to enhance the appeal of the bid. The legal letter received by Paramount emphasizes the urgency of this proposal amidst ongoing negotiations.