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(Reuters) -A special committee of the Paramount Global board charged with evaluating offers for the company met Saturday morning, though rival bidders for the studio are awaiting word on next steps. Paramount ended its exclusive negotiations with Skydance Media without a deal on Friday, allowing the special committee to entertain other offers for the home of "Mission: Impossible" and "SpongeBob SquarePants." Paramount's special committee signed off on beginning deal talks with Sony and Apollo, The New York Times reported on Sunday.

A special committee of the Paramount Global board charged with evaluating offers for the company met Saturday morning, though rival bidders for the studio are awaiting word on next steps. ...

Paramount Global will end exclusive negotiations with Skydance Media without a deal, opening the door for a rival bid. Sony Pictures Entertainment and Apollo Global Management have expressed interest in acquiring Paramount Global for $26 billion. The move comes amidst internal turmoil at Paramount, including the replacement of CEO Bob Bakish. Paramount has been struggling with the aftermath of Hollywood strikes, a soft advertising market, and competition in the streaming sector. The potential acquisition would strengthen Sony's position in the North American box office and create a formidable ...

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Bakish's departure happens as Paramount continues to negotiate a merger with Skydance Media.