NEW YORK, Oct. 25, 2024 (GLOBE NEWSWIRE) —
Dear Paramount Shareholders,
We are Project Rise Partners, a special-purpose vehicle comprised of Malka Investment Trust and Rise Beyond LLC. We are a group of investors with backgrounds in entertainment, media, finance, technology, real estate, and hospitality who are committed to Paramount Global’s future success and have formally offered Paramount $13.5 billion cash, which includes up to $5 billion debt restructuring, which we believe is far better for Paramount and its shareholders than their current agreement with Skydance Media.
We’ve included a summary in the below table which demonstrates why our offer is significantly more favorable and fair to the shareholders when compared to the current Skydance agreement. This superior offer we have already presented is both well-financed and more beneficial to the shareholders because we recognize they are the ones who have built and sustained Paramount. Our offer rewards all stakeholders and ensures that your many different types of investments in the company are not just acknowledged but rewarded.
Our view is straightforward: shareholders deserve a deal that reflects Paramount’s true value, as well as fairness and transparency in the process. Our offer is backed by a robust set of investors with a specific emphasis on investing into Paramount’s growth, while also providing shareholders a premium over recent market prices. We are confident that our offer not only surpasses other proposals, including the one from Skydance, but it also aligns with the long-term interests of Paramount, its employees, and you, its shareholders.
Most importantly, we want to reiterate that we are dedicated to treating all shareholders fairly. Our proposal ensures that every investor receives favorable terms in a straightforward way. We believe that this approach honors the trust you have placed in Paramount and provides a path forward that delivers significant value to every shareholder.
We look forward to engaging with you further and sharing the detailed financial terms of our offer. Thank you for your consideration, and we are confident that, together, we can shape a prosperous future for Paramount Global.
Sincerely,
Project Rise Partners
C/O Malka Investment Trust
| Item | Skydance Offer | PRP Offer | Delta | |||
| Total Cash Consideration | $7.2B | $13.5B | +17% | |||
| Class A offer price | $23 | $24 | +4.3% | |||
| Class B offer price | $15 | $16 | +6.7% | |||
| Balance sheet infusion | $1.5B | $2B (incl. in total cash) | +33% | |||
| Warrants dilution | 200M warrants | None | ||||
| Debt Restructuring package | None | Up to $5B (incl. in total cash) | ||||
| Skydance share dilution | +317M shares | None | ||||
| Overall dilution | +615M New shares | None | ||||
| Dilution impact to existing Class B | 50+% dilution | None | ||||
Media Contact:
media@malkatrust.com
Wall St Business News, Latest and Up-to-date Business Stories from Newsmakers of Tomorrow