Form 4: Redstone's Paramount Skydance Holdings Post-Merger

Shari Redstone's beneficial ownership in Paramount Skydance Corporation reflects the completed merger of Paramount Global and Skydance Media.

Summary

• Shari Redstone, a Director and 10% Owner, reported changes in her beneficial ownership following the completion of the merger between Paramount Global and Skydance Media, LLC into Paramount Skydance Corporation on August 7, 2025.
• The transactions involved the conversion of Paramount Global securities into Paramount Skydance securities, as contemplated by a transaction agreement dated July 7, 2024.
• Redstone became entitled to 16,340 shares of Paramount Global Class B common stock upon vesting of Restricted Share Units (RSUs), with receipt deferred.
• She disposed of 653,017 shares of Paramount Global Class B common stock and acquired 653,017 shares of Paramount Skydance Class B common stock.
• Each share of Paramount Global Class B common stock converted into one share of Paramount Skydance Class B common stock or, at the election of the holder, cash in the amount of $15.00 per share, subject to proration.
• Redstone also disposed of 57,615 Paramount Global Phantom Class A Common Stock Units and acquired 88,341 Paramount Skydance Phantom Class B Common Stock Units.
• Additionally, she disposed of 72,308 Paramount Global Phantom Class B Common Stock Units and acquired 72,308 Paramount Skydance Phantom Class B Common Stock Units.
• Following these transactions, Redstone beneficially owns 653,017 shares of Paramount Skydance Class B common stock directly, and 88,341 Phantom Class B Common Stock Units and 160,649 Phantom Class B Common Stock Units directly.

Sentiment

Score: 7

Explanation: The filing reports the successful completion of a significant merger, which is generally viewed as a positive step for the involved entities, consolidating assets and potentially creating synergies.

Positives

• Completion of the previously announced merger between Paramount Global and Skydance Media, LLC, forming Paramount Skydance Corporation.
• Shari Redstone's continued significant beneficial ownership in the newly formed entity, Paramount Skydance Corporation.

Industry Context

The completion of the merger between Paramount Global and Skydance Media, LLC to form Paramount Skydance Corporation represents a significant consolidation event in the media and entertainment industry, potentially impacting competitive dynamics and content strategies.

Stakeholder Impact

• Shareholders of Paramount Global received shares in the new entity, Paramount Skydance Corporation, or a cash equivalent of $15.00 per share, subject to proration, directly impacting their investment holdings.

Key Dates

Keywords

Paramount Skydance, PSKY, Shari Redstone, Skydance Media, Paramount Global, Merger, Acquisition, Beneficial Ownership, Form 4, Insider Transaction, Media, Entertainment