Paramount's future now hangs in the balance after Shari Redstone ended merger talks with Skydance Media.
, a former entertainment industry executive and professor at Syracuse University, told Yahoo Finance. "The deal seemed like it was pretty far down the road."
But critics maintained the offer still unfairly benefitted Redstone while diluting the holdings of public stakeholders. The threat of litigation loomed as a result.Hamilton agreed that threat was a primary overhang for the transaction, especially since Redstone likely needed to be indemnified against potential lawsuits as part of the deal.reportedly at odds with Redstone
The company has previously weighed selling parts of its business, which industry watchers say will be the norm following the Skydance unraveling."There was an attempt to keep the organization intact to increase the value for sale, but now I think they're looking at ways to cost contain and sell off assets versus the whole organization," Hamilton said.
Looking ahead, Greenfield said he expects a pause on Paramount M&A activity over the next 12 to 18 months: "There are plenty of aforementioned easy lifts to create value that do not require a sale today.
Roaring Kitty becomes the 4th largest GameStop shareholder after nearly doubling his position to 9 million shares
Shari Redstone Skydance Rich Greenfield Holding Company Paramount Global Paramount Studios J. Christopher Hamilton
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Paramount stock plummets after Shari Redstone kills Skydance dealShari Redstone, who controls Paramount through her family's holding company National Amusements, has ended merger talks with Skydance Media, according to the...
Read more »
Skydance sweetens offer for Paramount Global, source saysExplore stories from Atlantic Canada.
Read more »
Skydance Media submits new merger offer to Paramount: WSJSkydance Media submitted a new offer to Paramount Global (PARA) in its bid to acquire the media giant, according to the Wall Street Journal. Yahoo Finance...
Read more »
Paramount Global Directors Back Merger With Ellison’s SkydanceParamount Global directors evaluating a bid for the film and TV giant endorsed a takeover offer by independent producer David Ellison, according to a person familiar with the situation, moving the storied Hollywood studio closer to a sale.
Read more »
Paramount's special committee agrees to recommend Skydance deal, WSJ reportsA potential deal could end months of speculation over Paramount's fate. Reports on takeover offers from Skydance Media and a consortium of Apollo Global...
Read more »
Paramount's special committee agrees to recommend Skydance deal, WSJ reportsA potential deal could end months of speculation over Paramount's fate. Reports on takeover offers from Skydance Media and a consortium of Apollo Global...
Read more »