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- Reuters
Paramount's special committee agrees to recommend Skydance deal, WSJ reports
Reports on a takeover offer from Skydance Media and a consortium of Apollo Global Management and Sony Pictures, and another $30 billion bid from media entrepreneur Byron Allen have left the stock see-sawing for months. An exodus of advertisers and cord-cutting have hammered Paramount's traditional TV business, which accounts for more than half of its revenue. Media mogul Shari Redstone has received expressions of interest from at least two parties in buying all or part of her company National Amusements, which holds 77% of Paramount's Class A voting stock, the report said.
- Reuters
Paramount Global's co-CEOs to unveil strategy at town hall on Wednesday
LOS ANGELES (Reuters) -Paramount Global's co-CEOs, CBS chief George Cheeks, MTV's Chris McCarthy, and film studio head Brian Robbins, will lay out their strategy next week, said an executive who spoke on condition of anonymity on Friday. The all-hands meeting follows Paramount's annual shareholder meeting on Tuesday. The three Paramount executives were appointed to the office of the CEO on April 29, following the departure of CEO Bob Bakish, who was at odds with the company's controlling shareholder, Shari Redstone.
- Reuters
Skydance sweetens offer for Paramount Global, source says
(Reuters) -Skydance Media has submitted a sweetened offer for its proposed merger with Paramount Global, according to a person familiar with the matter, the latest twist in a tumultuous negotiation process. The new deal is said to offer improved terms for both voting and non-voting Paramount shareholders, and provides more cash, according to the source, who spoke on condition of anonymity. Specific details of the offer from the independent studio led by David Ellison, son of Oracle co-founder Larry Ellison, could not immediately be determined.
