Paramount in talks with potential merger partner. The Wall Street Journal reports the entertainment giant has paused talks with all suitors for 30 days to focus on negotiations with Skydance, which has been in talks with the company for some time. Among the bids Paramount has paused was one from private equity firm Apollo Global Management, which submitted a $26 billion all-cash offer.
Skydance is said to be primarily interested in the Paramount Pictures studio and would likely look to divest other interests. That leaves the fate of holdings including CBS, MTV, and the Paramount+ streaming service uncertain. (Fast Company)
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