Published on 9 Apr 2024 on Deadline via Yahoo Finance
Paramount Global’s beleaguered stock faltered Monday as investors fretted over the ongoing talks between controlling shareholder National Amusements Inc. and Skydance Media.
As the moon blocked out the sun across a swath of the U.S. in a total eclipse, the stock behaved accordingly, falling almost 8% on heavier-than-average trading volume to finish at $11.06. The shares, which have lost nearly half their value over the past year, retreated amid numerous reports about how a tentative deal between David Ellison’s Skydance and Shari Redstone’s National Amusements would be structured.