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Paramount stock slumps on reports that Skydance merger would require company to raise new equity

·1 min

Paramount’s stock experienced a decline as reports suggested the company might need to raise new equity for a potential merger with Skydance Media. It is reported that Shari Redstone, the controlling shareholder of Paramount, is in talks to sell her stake to David Ellison from Skydance. The companies are also reportedly engaging in merger discussions.