Skydance expects to more than double its revenue in coming years, WSJ reports

Reuters04-20

April 19 (Reuters) - Skydance Media, which is in exclusive merger talks with Paramount Global , expects to more than double its revenue and triple its adjusted earnings in the coming years, the Wall Street Journal reported on Friday.

Skydance expects to make just over $1 billion in revenue in 2024 with Ebitda of $90 million, and in 2025 expects $2.29 billion in revenue and $322 million in Ebitda, the report added, citing people familiar with the matter.

Paramount is currently engaged in exclusive deal talks with Skydance Media, an independent studio led by David Ellison, though some investors have urged Paramount to explore other options.

Skydance did not immediately respond to a Reuters request for comment.

Shares of Paramount Global closed up 13% on Friday, a day after Reuters reported Sony and Apollo Global Management were discussing a joint bid for the media company.

Paramount's revenue declined nearly 2% last year, with the company still coming to terms with consumer shift away from traditional linear television to streaming services.

(Reporting by Urvi Dugar in Bengaluru; Editing by Shailesh Kuber)

((UrviManoj.Dugar@thomsonreuters.com;))

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