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Paramount Global Must Get Skydance Approval for Any Paramount+ Joint Venture or Bundling Deals With Biggest U.S. Streamers
The transaction agreement between Skydance and Paramount includes restrictions regarding a Paramount+ joint venture.
Shell, speaking on Monday’s presentation for investors, also noted that Paramount’s current management team has “come up with a plan potentially on the international business, which is likely to be executed between now and closing, which we also think will be quite compelling to the cash flow generation of the DTC segment.” Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks, at a June 25 town hall meeting for employees said that on the international front, “we are advancing talks with potential partners that will significantly transform the scale and economics of the [streaming] service making it profitable and driving long-term value. If Paramount Global is engaged in talks with a prospective bidder that the board’s special committee for M&A has determined “in good faith is or would reasonably be expected to lead to a Superior Proposal,” the company may extend the go-shop period until Sept. 5, 2024.
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