Skydance’s Proposed Deal With Paramount Global Appears to Be Falling Apart
variety.comTodd Spangler NY Digital Editor UPADTED: After months of M&A talks, Paramount Global and controlling shareholder Shari Redstone might be going it alone after all — for now.
Insiders tell Variety that the expectation at the company is that neither of the two offers in play — Skydance Media-RedBird Capital Partners and Sony Pictures Entertainment-Apollo Global Management — will come to fruition.
And Redstone is said to have reluctantly concluded that a deal with David Ellison’s Skydance, a longtime partner of Paramount Pictures, will not be possible.
As of Friday morning, the special committee established by Paramount Global’s board to evaluate M&A proposals had not notified Skydance one way or the other about its best and final offer, which would involve Skydance acquiring Redstone’s National Amusements Inc.
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