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Registrant’s
telephone number, including area code: (i212) i258-6000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
i☐
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
i☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
i☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
i☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title
of each class
Trading Symbols
Name of each exchange on which registered
iClass A Common Stock, $0.001 par value
iPARAA
iThe
Nasdaq Stock Market LLC
iClass B Common Stock, $0.001 par value
iPARA
iThe
Nasdaq Stock Market LLC
i5.75% Series A Mandatory Convertible Preferred Stock, $0.001 par value
iPARAP
iThe
Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company i☐
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
8.01
Other Events.
On March 13, 2024, certain subsidiaries of Paramount Global (“Paramount”) entered into a transfer agreement (the “Sale Agreement”) with Reliance Industries Limited (“Reliance”), pursuant to which the Paramount subsidiaries agreed to sell, and Reliance agreed to purchase, the Paramount subsidiaries’ entire 13.01% equity interest in Viacom 18 Media Private Limited (“Viacom18”) for an aggregate purchase price of 42,86,00,00,000 Indian rupees, which
is equivalent to approximately $517 million based on the current foreign exchange rate (the “Transaction”).
The closing of the Transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney. After the closing, Paramount will continue to license its content to Viacom18.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
