Shari Redstone, whose company National Amusements is the largest shareholder in Paramount Global, has ended talks with Skydance about a possible merger.
A spokesperson for National Amusements said the company has not been able to “reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.
“NAI supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders,” added the statement.
The special committee appointed by Paramount Global also released a statement stating that it had been informed by NAI that “it did not have an agreement on a deal with Skydance Media and didn’t anticipate a path forward on this transaction”.
Earlier this week it emerged that former chair of Fubo TV Edgar Bronfman Jr and Bain Capital are considering offering $2.5 billion for National Amusements.
Sony Pictures and Apollo Global Management are currently in exclusive talks with Paramount Global about a possible acquisition.
