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Paramount Global Must Get Skydance’s Approval for Any Paramount+ JV or Packaging Deal with Major US Streamers

Paramount Global Must Get Skydance’s Approval for Any Paramount+ JV or Packaging Deal with Major US Streamers

The full terms of the deal for Skydance Media’s acquisition of Paramount Global were revealed Thursday. And as expected, there are several restrictions on what Paramount and Skydance can do in the lead-up to closing without the other party’s approval.

Under the terms of the deal, Paramount Global has the right to investigate a better offer within a 45-day window. And as previously announced, Paramount will have to pay a $400 million termination fee to the Skydance investor group.

The 273-page transaction agreement disclosed in the 8-k filing also includes some restrictions on Paramount+.

Paramount may not enter into any joint venture or “collective content licensing and/or subscriber acquisition/migration” arrangement involving Paramount+ without Skydance’s written approval. The terms of the agreement state that Paramount will “also consult with Skydance in good faith” regarding material developments in the negotiations…