Skydance bid for Paramount hinges on Shari Redstone as special committee ends exclusive talks
Publishing timestamp: 2024-05-03 11:12:23
Summary
The Skydance consortium is prepared to walk away from its bid for Paramount if they don't hear from controlling shareholder Shari Redstone after the latest offer from Apollo and Sony. The exclusivity period with Paramount will not be renewed, and the consortium is waiting for Redstone's commitment to the deal. Paramount shares rose following the report, and the special committee is currently considering the bids.
Sentiment: NEUTRAL
Tickers: PARA,
Keywords: business news, breaking news: business, arts and entertainment, media, paramount global, mergers and acquisitions, shari redstone,
Source: https://www.cnbc.com/2024/05/03/paramount-news-skydance-could-drop-bid-after-sony-apollo-offer.html