share_log

Paramount Global -5% After Variety Reports Rumored Buyout Is Not Possible

Benzinga ·  May 3 14:17

After months of M&A talks,$Paramount Global-B (PARA.US)$and controlling shareholder Shari Redstone might be going it alone after all.

Insiders tellVarietythat the expectation at the company is that neither of the two offers in play — Skydance Media-RedBird Capital Partners and Sony Pictures Entertainment-Apollo Global Management — will come to fruition. And Redstone is said to have reluctantly concluded that a deal with David Ellison's Skydance, a longtime partner of Paramount Pictures, will not be possible.

As of Friday morning, the board's special committee had not notified Skydance one way or the other about its best...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment