(Bloomberg) Paramount Global Chair Shari Redstone has walked away from an offer to merge her family’s media company with David Ellison’s Skydance Media, ending months of tense negotiations that would have capped the Redstones’ decades-long run atop the owner of CBS and MTV.Most Read from BloombergHunter Biden Convicted of Gun Charges by Jury in DelawareApple Hits Record After Introducing ‘AI for the Rest of Us’Dozens of CVS Generic Drug Recalls Expose Link to Tainted FactoriesPimco Warns of M
National Amusements stops discussions with Skydance on Paramount deal, sources say nbcnewyork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nbcnewyork.com Daily Mail and Mail on Sunday newspapers.
LOS ANGELES (Reuters) -Media heiress Shari Redstone abruptly ended talks with David Ellison's Skydance Media on Tuesday, killing the potential sale of a controlling stake in Paramount Global to the independent studio, sources familiar with the negotiations said. The move by Redstone, Paramount's largest shareholder, came just as it appeared an agreement was near. A special committee of Paramount's board had been scheduled to discuss a proposed deal when it received word that Redstone had called off discussions.