From Investing.com: 2024-05-03 20:50:27

Paramount Global ends exclusive negotiations with Skydance Media without a deal, considering a rival bid from Sony and Apollo. Paramount shares rose 3% in extended trading. Sony and Apollo offered $26 billion in cash and debt assumption. Shari Redstone supports exploring other offers. Paramount faces challenges due to strikes, subscription declines, and streaming competition. Sony aims to bolster North American box office share and expand content offerings. Regulatory hurdles may arise due to foreign ownership concerns. Sony plans to operate Paramount with Apollo as a minority shareholder.



Read more at Investing.com: Paramount will let exclusive talks with Skydance lapse By Reuters