Reported about 2 months ago
David Ellison's Skydance Media is set to acquire Paramount Global after Edgar Bronfman Jr. withdrew from the bidding, concluding a highly competitive acquisition process. Paramount expects to complete the deal in the first half of 2025, aiming to revitalize its operations amidst significant debt and challenges in the streaming landscape. Bronfman's group had previously made a $6 billion bid but decided to exit due to a deadline for financial documentation, leaving Skydance's superior offer of over $8 billion as the winner.
Source: YAHOO