Reported about 2 months ago
Paramount stock fell over 7% after the company confirmed the end of its 'go-shop' period and billionaire Edgar Bronfman Jr. withdrew his bid to purchase the company. With Skydance Media set to take ownership, Paramount anticipates closing the $8 billion deal in early 2025, while facing challenges such as a $6 billion write-down in the cable unit and plans to cut 15% of its workforce.
Source: YAHOO