National Amusements agreed to a preliminary deal to hand over control of Paramount to David Ellison's Skydance Media, the latest in a messy sales process.
Paramount controlling shareholder National Amusements has reached a preliminary deal with David Ellison's Skydance to pass on control of the media conglomerate, according to people familiar with the matter.
The renewed push comes just weeks after an earlier deal died, in part over what a person familiar said were concerns by Redstone that the deal had been altered too far. Paramount's special committee is currently reviewing and voting on the new deal, which would see Redstone get a reduced direct financial consideration.Shari Redstone, president of National Amusements, speaks at the WSJ Tech Live conference in Laguna Beach, California, on Oct. 21, 2019., according to people familiar with the matter. Paramount's special committee is currently reviewing and voting on the deal, according to a person familiar with the matter.
Redstone killed the initial bid in June as it was near the finish line. One of Redstone's reasons was feeling as though Skydance had retraded the deal by asking her to take hundreds of millions of dollars less than the previously agreed to payment, according to one of the people. The winding deal process had already led to the departure of CEO Bob Bakish earlier this year, leaving in place a three-headed office of the CEO to run the company. Other interested bids included a
Breaking News: Business Paramount Global Sony Group Corp Sony Group Corp IAC Inc Shari Redstone Media Business Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
National Amusements ends Paramount merger talks with Skydance MediaNational Amusements said merger talks ended after the companies were unable to reach 'mutually acceptable terms' on a deal.
Read more »
National Amusements stops discussions with Skydance on Paramount deal, sources sayShare Redstone's National Amusements has stopped talks with Skydance on proposed merger deal with Paramount Global, CNBC reported Tuesday.
Read more »
Paramount Global owner calls off merger talks with Skydance MediaNational Amusements, which owns a majority voting stake in the embattled entertainment giant Paramount Global, says it has ended talks on a possible merger of Paramount with movie production company Skydance Media.
Read more »
Paramount Global owner calls off merger talks with Skydance MediaNational Amusements, which owns a majority voting stake in the embattled entertainment giant Paramount Global, says it has ended talks on a possible merger of Paramount with movie production company Skydance Media.
Read more »
Paramount Global owner calls off merger talks with Skydance MediaNational Amusements, which owns a majority voting stake in the embattled entertainment giant Paramount Global, says it has ended talks on a possible merger of Paramount with movie production company Skydance Media.
Read more »
Paramount, Skydance Reportedly Agree to Merger Deal Terms: DetailsCNBC's David Faber delivers his latest Faber Report.
Read more »