Reported 7 months ago
National Amusements, the majority voting stakeholder of Paramount Global, announced the termination of discussions for a potential merger between Paramount and Skydance Media. The failed deal, which was anticipated for weeks, faced challenges due to Paramount's significant debt and declining television business. Despite reports of agreement terms in early June, the inability to reach mutually acceptable terms led to the collapse of the merger. As Paramount struggles in the media industry and its Paramount+ streaming service attempts to compete, the cancellation leaves the company with existing challenges and limited opportunities for financial support or innovation.
Source: YAHOO