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Sony & Paramount Sign Non-Disclosure Agreement Allowing Deal Talks To Start, But It’s Not Looking Like A $26 Billion Bid For Whole Company Anymore
Sony signed a non-disclosure agreement with Paramount allowing deal talks to begin but they'll not be focused on a $26 billion bid for whole company.
The non-disclosure agreement comes two weeks after a Paramount’s monthlong exclusive negotiating window with David Ellison’s Skydance ended with no deal but the indie studio still hanging in, still interested. Hollywood values the lot and is backing Ellison, although many balk at the circa $5 billion valuation put on the company as part of a proposed two-step deal. Paramount Global shareholders feel the opposite, and hate the Skydance deal, since it leaves the company public with most of the sale proceeds going to Redstone to acquire her controlling stake.
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