Paramount Global Completes Merger with Skydance

On August 7, 2025, Paramount Global and Skydance Media (“Skydance”) announced the completion of their merger, creating a standalone global media and entertainment company, Paramount, a Skydance Corporation (“Paramount”). Paramount Class B shares will begin trading today on the Nasdaq Stock Market LLC under “PSKY.” Cravath represented the Paramount Special Committee in connection with the transaction.

The Cravath team is led by partners Faiza J. Saeed, Daniel J. Cerqueira, Claudia J. Ricciardi and Alexander E. Greenberg and includes associates Katharine E. Waldman, Armin Hoss, Danielle A. Solaru, Juan P. Castaño and Madison Burson on M&A matters; partner Andrew J. Pitts and associate Kelly N. King on capital markets matters; partner George E. Zobitz and associate Kathryn Kennedy Bleday on banking matters; partner Lauren Angelilli and associates Carlos Nicholas Obando and Carolyn Liziewski on tax matters; partner Jonathan J. Katz and associates Anna Mikaelyan and Oscar Porter on executive compensation and benefits matters; partners Christine A. Varney and Noah Joshua Phillips and of counsel Nicole M. Peles on antitrust matters; partner David J. Kappos, senior attorney Carys J. Webb and associate Sarah R. Brathwaite on intellectual property matters; partner Matthew Morreale and associate Star S. Gulant on environmental matters; partner Benjamin G. Joseloff on regulatory matters; partner John W. White and of counsel Lisa M. Kohl on corporate governance matters; and senior attorney Joyce Law and practice area attorney Lauren Piechocki on real estate matters.