The media tycoon behind Paramount Pictures pulled the plug on a proposed multibillion-dollar merger, after months of negotiations over the storied Hollywood giant.
National Amusements, the vehicle that owns Shari Redstone’s controlling stake in Paramount, said it had been unable to reach mutually acceptable terms with Skydance Media.
Advanced talks with Skydance had raised the prospect of an end to months of fevered speculation over the future of Paramount’s global entertainment empire.
The Wall Street Journal first reported that discussions between the two sides were over.
Shares in Paramount dropped 8% on Tuesday after it was reported that discussions had been ended.
Leave a Reply