A potential deal could end months of speculation over Paramount's fate. Reports on takeover offers from Skydance Media and a consortium of Apollo Global...
- A special committee of the Paramount Global 's board agreed to recommend a deal with Skydance Media , the Wall Street Journal reported on Friday, citing people familiar with the matter.
A potential deal could end months of speculation over Paramount's fate. Reports on takeover offers from Skydance Media and a consortium of Apollo Global Management and Sony Pictures, as well as a $30 billion bid from media entrepreneur Byron Allen, has left the stock see-sawing for months. Media mogul Shari Redstone had received expressions of interest from at least two parties in buying all or part of her company National Amusements, which holds 77% of Paramount's class A voting stock, WSJ said.Paramount did not immediately respond to Reuters request for comment.Shares of Trump Media & Technology Group, the owner of social networking site Truth Social, slumped before the opening bell Friday after former President Donald Trump was convicted in his hush money trial.
The Bank of Canada will trim interest rates to 4.75% on June 5, according to three-quarters of economists in a Reuters poll which showed three further cuts this year, with the last one hanging on a knife's edge. Although inflation has been within the central bank's 1%-3% target for a few months, the poll results underscore questions on how much the BoC can diverge from the U.S. Federal Reserve, which is expected to wait until at least September and possibly even later.
Apollo Global Management Paramount Global Shari Redstone The Wall Street Journal Special Committee Media Mogul
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