Media mogul Barry Diller weighs a bid to gain control of Paramount
Publishing timestamp: 2024-07-02 16:50:05
Summary
Barry Diller's IAC is exploring a bid to take control of Paramount Global by acquiring National Amusements Inc., the controlling shareholder of Paramount. Discussions come after National Amusements stopped talks with Skydance on a proposed merger. Diller has a long history in the media industry and has been vocal about legacy media companies focusing on traditional networks rather than chasing Netflix in streaming wars. Terms of IAC's potential bid are unknown, but it would likely have to be more than $2 billion.
Sentiment: NEUTRAL
Keywords: media, business, iac inc, entertainment, social media, breaking news: business, netflix inc, business news, paramount global,