Paramount slashes value of Network 10 TV licences as Skydance deal advances
The Network 10 owner has written down the value of its Australian TV licences by $12.7 million and secured local regulatory clearance for its merger with Skydance Media.
Network 10’s US parent company, Paramount Global, has written down the value of its Australian TV licences and secured local regulatory approvals for its USD8.4 billion ($13.3 billion) merger with David Ellison’s Skydance Media.
In a filing with the US Securities and Exchange Commission on Thursday, Paramount disclosed that it had reduced the value of its Australian broadcast licences by USD8 million ($12.7 million) to their “estimated fair value” of USD13 million ($20.7 million).
The Network 10 owner also reported that it has received both competition and foreign investment clearance in Australia for its proposed merger with Skydance. Paramount and the Foreign Investment Review Board did not immediately respond to requests for comment.
“The ACCC considered the proposed acquisition of Paramount Global by Skydance Media in December 2024,” a spokesperson for the Australian Competition and Consumer Commission told Capital Brief.
