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Sony Officially Says It Won’t Bid for Paramount Global to Counter Skydance Deal
Sony is not interested in making a new offer for Paramount Global that would challenge Paramount's deal to merge with Skydance Media.
On its quarterly earnings call Wednesday, Sony Group president, COO and CFO Hiroki Totoki was asked whether the company would mount a new bid for Paramount. Totoki’s comments confirmed a report Tuesday by Japanese financial newspaper Nikkei that Sony had opted to not make a new bid for Paramount. If Paramount opts to go with a rival bid, the company would be obligated to pay a $400 million breakup fee to the Skydance investor group.
Or read this on Variety
