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Regulatory discussions focus on ensuring compliance with media ownership rules as Paramount seeks strategic transformation. The proposed merger with Skydance could redefine competitive dynamics in the global entertainment industry.

If the deal doesn’t close by the new July 6 deadline, or if regulators ultimately block it, either party may walk away.

The merger got a greenlight by the Securities and Exchange Commission (SEC), who made Paramount Global’s S-4, or the form filed to the SEC in M&A cases, effective as of Thursday. 

Through a licensing deal with Paramount Global Content Distribution, Freediver will be available on December 7, 2024 on Prime Video in the U.S.  The film has also been licensed to Paramount+ in Canada and will be available on the same date.

The transaction is expected to close in the first half of 2025.