'Skydance's Proposed Deal With Paramount Global Appears To Be Falling Apart; Insiders Tell Variety That The Expectation At The Company Is That Neither Of The Two Offers In Play' - Variety
Portfolio Pulse from Benzinga Newsdesk
Paramount Global's potential deals with Skydance Media-RedBird Capital Partners and Sony Pictures Entertainment-Apollo Global Management are unlikely to proceed. Insiders believe neither offer will materialize, with regulatory hurdles and Paramount's reluctance to sell to a private-equity-backed buyer being key issues. The company, led by the 'Office of the CEO', is preparing to operate independently, possibly selling assets like BET Media Group and exploring a merger of Paramount+ with NBCUniversal's Peacock.
May 03, 2024 | 6:17 pm
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Paramount Global's M&A talks with Skydance and Sony-Apollo are faltering, with the company likely to remain independent and possibly sell assets or merge services.
The uncertainty surrounding the M&A talks and the decision to potentially operate independently could lead to short-term market volatility for Paramount Global. However, the strategic moves to sell assets or merge services like Paramount+ with Peacock could be seen as positive in the long term, stabilizing the stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100