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CEO North America > Business > Paramount stock rises on back of takeover rumors

Paramount stock rises on back of takeover rumors

in Business, News
Paramount stock rises on back of takeover rumors
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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.

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