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No deal. Shari Redstone has ended talks on the latest offer for Paramount Global from the consortium led by Skydance and RedBird Capital, placing the future of the entertainment company into a fresh period of uncertainty, a source confirms to The Hollywood Reporter. A spokesperson for the Redstone-run National Amusements, which controls Paramount, stated that …
Negotiations between National Amusements, the holding company behind Paramount Global, and Skydance have broken down
Discussions halted Tuesday after the media conglomerate's controlling shareholder and David Ellison failed to reach "mutually acceptable terms"
LOS ANGELES (Reuters) -Media heiress Shari Redstone abruptly ended talks with David Ellison's Skydance Media on Tuesday, killing the potential sale of a controlling stake in Paramount Global to the independent studio, sources familiar with the negotiations said. The move by Redstone, Paramount's largest shareholder, came just as it appeared an agreement was near. A special committee of Paramount's board had been scheduled to discuss a proposed deal when it received word that Redstone had called off discussions.
Communications services companies fell as the Paramount Global deal saga continued. Shares of the Hollywood studio fell by more than 6% after Shari Redstone's National Amusements, which... -June 11, 2024 at 04:11 pm EDT - MarketScreener