Shares of major Hollywood studio Paramount Pictures jumped Friday following reports of the company’s potential takeover.
According to Deadline and Puck News, Skydance – which helped produce Paramount’s “Top Gun: Maverick” – and RedBird Capital are purportedly exploring a deal to takeover the studio.
The media giant currently holds a long-term debt of $15.6 billion, opening up questions from investors surrounding Paramount’s upcoming operations.
Paramount shares closed up 12% during trading Friday as a result of the news.
