A potential new buyer has emerged for Paramount Global.
Barry Diller, a prominent figure in the media industry, is considering acquiring National Amusements Inc., the company owned by Shari Redstone and the primary shareholder of Paramount, as reported by CNBC’s David Faber.
IAC, Diller’s internet media and publishing company, has taken steps towards this acquisition by signing a nondisclosure agreement and exploring the data room of National Amusements. Sources suggest that IAC may soon make a bid to acquire a controlling interest in Paramount.
These developments follow the breakdown of discussions between National Amusements and Skydance regarding a potential merger with Paramount.
After extensive negotiations with a consortium involving Skydance, RedBird Capital, and KKR, the deal was halted pending approval from Redstone. National Amusements, under Redstone’s control, currently holds a 77% stake in Paramount.
Prior to these recent events…
2024-07-02 11:02:42
Link from www.cnbc.com