Stock jumps as Bellator sale, severance pacts add to ‘M&A narrative’

Paramount Global (PARA) stock closed nearly 6% higher on Monday following two new developments that suggest the struggling media giant could be exploring more M&A deals.

Late Friday, the company quietly revealed in an 8-K filing that current executives including CEO Bob Bakish, CFO Naveen Chopra, and executive VP Christa D’Alimonte will be offered severance if they are terminated within two years “following the consummation of a change in control.”

Also on Monday: The Saudi-backed…