Paramount Will Let Exclusive Talks With Skydance Lapse, Imperiling Deal [The New York Times]
Sony Group Corporation American Depositary Shares (SONY)
Company Research
Source: The New York Times
Paramount told Skydance that it would not extend the Hollywood studio’s exclusive window to negotiate a merger, two people with knowledge of the decisions said Friday, imperiling the deal but opening the door to other suitors for the owner of MTV and Nickelodeon.The development throws up a major roadblock for Skydance, a movie studio that has been negotiating a complicated deal to merge with Paramount for months. Many Paramount investors have come out against that deal, saying it wouldenrich Shari RedstoneThe 30-day period for exclusive talks with a special committee of Paramount’s board expires at the end of Friday. It is unclear what Skydance, which was founded by the tech scion and producer David Ellison, and its backer, RedBird Capital Partners, will do next. The company could wait for Paramount to re-engage in negotiations, could make a higher bid or could walk away. The company is wary of being used by Paramount to drive up the price for another bidder.Paramount’s special commit
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