Following weeks of discussions, Paramount’s potential merger deal with Skydance has fallen apart, as reported earlier by The Wall Street Journal. In a statement on Tuesday, Paramount’s parent company, National Amusements, said the companies couldn’t “reach mutually acceptable terms” for its deal with Skydance Media.
Discovery emerged last year, and in addition to Skydance, a couple of other suitors have popped up since then, including Apollo Global Management, Sony, and Byron Allen. The dropped deal follows the departure of Paramount CEO Bob Bakish in April, who helmed the company for eight years. Paramount replaced Bakish with a new Office of the CEO consisting of three other executives: Chris McCarthy, Brian Robbins, and George Cheeks.
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