The company hadreceived approval earlier Sundayfrom a special committee of Paramounts board of directors.
That transaction will be followed by a full merger.
Class B stockholders will get $15 per share in cash/stock election.
Paramount Global and Skydance MediaGetty Images
The cash consideration available to public shareholders totals $4.5 billion.
Shell abruptly left NBCU last year after admitting to an inappropriate relationship with a woman at the company.
The deal is expected to close in the first half of 2025, the companies said.
The all-stock transaction values Skydance at $4.75 billion.
Skydance equity holders will receive 317 million Class B Shares valued at $15 per share.
(Larry Ellison, Davids father, is the billionaire founder of software giant Oracle.)
The Ellison deal technically includes a 45-day go-shop period, during which alternative offers could be considered.
Our hope is that the Skydance transaction will enable Paramounts continued success in this rapidly changing environment.
We believe in Paramount and we always will.
CBS and Paramount Pictures will be reinforced by the transaction, the announcement emphasized.
