UPDATED with stock price.
There is no deal done.
But as Deadline reported earlier today, the two sides are in an exclusive negotiating period.
Shari Redstone and David EllisonGetty Images
Paramount will not engage with other parties on a deal for 30 days.
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Reps for Skydance and Paramount both declined comment.
Deal talk exploded in December when it first surfaced that Skydance was interested.
Redstone prefers the latter.
Byron Allen made an offer for the whole company but that seems to have faded from sight.
CEO Bob Bakish has said the company will entertain all offers.
Paramount did a big round of layoffs in February.
Its also been selling off non-core assets like book publisher Simon & Schuster and various real estate holdings.
Ellison is backed by his deep-pocketed father, Oracle co-founder Larry Ellison, Gerry Cardinales RedBird Capital and KKR.
The Skydance deal would require two steps, which is why its taking some time.
First, the acquisition of Redstones stake in NAI, which would give Skydance control of Paramount Global.
The second, more complicated, transaction would be merging the Skydance and Paramount studios.
