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Paramount Shares Fall on Report That Sony Is Rethinking Bid
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Paramount Global stock jumps on reports of $26B Sony-Apollo takeover offer
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Paramount Will Let Exclusive Talks With Skydance Lapse
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Paramount Global will end exclusive negotiations with Skydance Media without a deal, opening the door for a rival bid. Sony Pictures Entertainment and Apollo Global Management have expressed interest in acquiring Paramount Global for $26 billion. The move comes amidst internal turmoil at Paramount, including the replacement of CEO Bob Bakish. Paramount has been struggling with the aftermath of Hollywood strikes, a soft advertising market, and competition in the streaming sector. The potential acquisition would strengthen Sony s position in the North American box office and create a formidable Hollywood studio.
Paramount will let exclusive talks with Skydance lapse By Reuters
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