Reported about 1 month ago
Paramount stock fell over 7% following the announcement of the end of its 'go-shop' period, as billionaire Edgar Bronfman Jr. exited the bid for the company. The move paves the way for Skydance Media to potentially acquire Paramount, a deal expected to close in 2025. This comes amid challenges facing Paramount, including significant financial write-downs and upcoming layoffs.
Source: YAHOO