Paramount bidders await word from special committee evaluating options

A special committee of the Paramount Global board convened to assess offers for the company, following the end of exclusive negotiations with Skydance Media without reaching a deal.

Rival bidders, including Sony and Apollo, are awaiting updates on the next steps.

The special committee reportedly approved initiating deal discussions with Sony and Apollo, with a potential focus on Apollo acquiring the CBS broadcast license rights. However, this information remains unconfirmed by Paramount’s spokesperson.

Sony Pictures Entertainment and Apollo Global Management had expressed interest in acquiring Paramount, but the committee has not yet contacted Sony.

Meanwhile, Skydance, engaged in discussions with Paramount and its controlling shareholder Shari Redstone, is evaluating its options, Reuters reported.

read more: https://finance.yahoo.com/news/1-paramount-bidders-await-word-183430188.html

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