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Barry Diller’s IAC Mulling Bid to Gain Control of Paramount Global: Report
Barry Diller's IAC is exploring a bid to acquire Shari Redstone's National Amusements Inc., which controls Paramount Global, according to a report.
IAC, the internet media and publishing conglomerate led by Diller, is “exploring” a bid to acquire Shari Redstone’s National Amusements Inc., the company that owns a controlling stake in Paramount Global, the New York Times reported Monday, citing anonymous sources. At this point, Paramount Global is proceeding under a new strategic plan devised by its three co-CEOs to slash costs, explore the sale of certain assets and accelerate the profitability of Paramount+ via a possible joint venture with another player. As the Skydance talks fell apart, other bidders have emerged to scope out a potential acquisition of National Amusements Inc. alone (instead of trying to construct a deal that also comprises Paramount Global).
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