Paramount Global not expected to reach deal with buyer by 30-day deadline - report Apr. 17, 2024 10:25 AM ET By: Joshua Fineman , SA News Editor [Seeking Alpha]
Apollo Global Management, Inc. (New) (APO)
Last apollo global management, inc. (new) earnings: 5/1 07:00 am
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The 30-day window to speak to David Ellison's Skydance is set to expire around May 3, according to a report from CNBC's David Faber on Wednesday. "They are not going to have a deal done by then," Faber said on the business network. "I don't think the market expected that that would be the case. It's going to take more time than that, and it may be more twists and turns from here." Faber added that the potential buyer believes there could be as much as $3 billion in cost-cutting in a possible combination with Paramount ( PARA ). Paramount shares rose 2.3% on Wednesday. Controlling shareholder Shari Redstone has come in for criticism for reportedly negotiating a transaction that reportedly stops short of a full sale or takeover: Recent reports suggest National Amusements (the Redstone family company controlling Paramount) is talking about selling itself to David Ellison's Skydance, after which Paramount might acquire Skydance for around $5B. The talks have drawn grumbling from
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- 3/21/24 - Form 4
- 3/5/24 - Form 4
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