Skydance Will Not Acquire Paramount Global

TV & Film

Jun 13

There have been talks amongst a consortium led by Skydance and RedBird Capital to purchase Paramount Global from National Amusements. However, Shari Redstone, head of National Amusements, has stated that her company “announced that they have not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI. NAI supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.”

Redstone is still looking for other buyers for Paramount Global. This conglomerate, formed from the merger of Viacom and CBS Corporation, controls several assets, such as Paramount Pictures and the CBS television network. Paramount has been looking for potential buyers for quite some time, with Skydance entering the picture in early April. The corporate world is no stranger to mergers and acquisitions, but are they really good for the consumers to who they cater? For now, Paramount will have to look for a new buyer, leaving any potential issues up in the air. The future of the company is unknown, and it will likely stay that way for a while.

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