News Formal

Paramount, Skydance merger called off

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 13 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 92%

Paramount News

Skydance,Merger,Called

NEW YORK — National Amusements, which owns a majority voting stake in embattled entertainment giant Paramount Global, said on Tuesday that it has ended talks on a possible merger of Paramount with movie production company Skydance Media.

The potential deal had drawn attention for weeks amid concerns about Paramount's future given its heavy debt load and declining television business. One media report in early June even stated that Paramount and Skydance had agreed to terms of a deal, contingent only on sign-off from Paramount's controlling shareholder, Shari Redstone. A statement from National Amusements merely noted that the two sides 'have not been able to reach mutually acceptable terms' for the deal.

Robert Fishman, an analyst with MoffettNathanson, said the deal's collapse leaves Paramount with the same problems that have long weighed it down, and few prospects for an infusion of cash or new ideas to help turn things around.'Ms.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AI voiceover company stole voices of actors, New York lawsuit claimsTwo voice actors sued artificial-intelligence startup Lovo in Manhattan federal court on Thursday, accusing the company of illegally copying their voices and using them without permission in its AI voiceover technology.
Source: gmanews - 🏆 11. / 68 Read more »

AI voiceover company stole voices of actors, New York lawsuit claimsTwo voice actors accuse San Francisco-based Lovo of selling AI versions of their voices without permission after tricking them into providing vocal samples
Source: rapplerdotcom - 🏆 4. / 86 Read more »