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Paramount Global to Pursue Simultaneous Talks with Sony/Apollo and Skydance as M&A Drama Drags On

Cynthia Littleton Business Editor Paramount Global goes back to playing the field this week with two suitors still pursuing the company that has been surrounded by a highly public M&A drama for months. And it’s unlikely to end any time soon. The company reached the end of its 30-day exclusive negotiating window with Skydance Media on May 3 without coming to an agreement.
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Ben Affleck and Matt Damon tostart a production company alongside RedBird Capital's Gerry Cardinale
Ben Affleck and Matt Damon are co-founding a production company together with the help of RedBird Capital founder Gerry Cardinale. The Argo star, 50, and the Martian actor, 52, will reportedly start an 'artist-led studio that partners with filmmakers to empower creative vision and broaden access to profit participation,' according to Deadline. While the news was originally reported back in June, more details have emerged about the arrangement.  New company: Ben Affleck and Matt Damon are co-founding a production company together with the help of RedBird Capital founder Gerry Cardinale (pictured November 2016)Cardinale's company, which manages more than a billion dollars in assets, is reportedly making a 'significant financial commitment' to the company, named Artists Equity. Ben and Matt, who have been friends for decades and won Oscars for co-writing the 1997 movie Good Will Hunting, have generated more than $10 billion at the box office.  They've starred in more than 100 films and will reportedly lead the company together. 'Artists Equity was conceived from Matt’s and my longtime passion for the art of storytelling and our shared desire to help creators deliver on their vision, as we have been fortunate to do throughout our careers,' Affleck said in a statement to Deadline.  New: The Argo star, 50, and the Martian actor, 52, will reportedly start an 'artist-led studio that partners with filmmakers to empower creative vision and broaden access to profit participation,' according to Deadline (pictured 2021) Co-founder: Cardinale's company, which manages more than a billion dollars in assets, is reportedly making a 'significant financial commitment' to the company, named Artists Equity (RedBird CEO Gerry Cardinale
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