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Paramount-Skydance Isn't Happening

Shari Redstone is ending talks that would allow Skydance to merge with Paramount after a special committee approved the sale.

The Wall Street Journal, which first reported the news, said it’s likely Redstone will now look to simply sell National Amusements and the controlling stake in Paramount, rather than have the company merge with another media conglomerate. In recent days as talks dragged on without the go ahead from Redstone, other buyers have emerged for NAI, including Fubo chair Edgar Bronfman Jr. and Steven Paul, a Hollywood producer. As Puck had previously mentioned along with additional reports including in The New York Times, Redstone wanted Skydance to provide legal protection in case any of the minority shareholders decided to sue to block the transaction.

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