Posted 2/27/2024, 7:00:00 PM
Skydance, Allen Pursue Deals as Warner Drops Bid for Paramount
- Warner Bros. Discovery is no longer pursuing an acquisition of Paramount Global after discussions cooled down.
- Skydance is still performing due diligence on a potential merger with Paramount or acquisition of its parent company.
- Paramount has set up a committee to evaluate bids, including Byron Allen's $30 billion bid, though some doubt he has sufficient funding.
- Comcast is not interested in acquiring Paramount, though the companies continue discussions on potentially combining Peacock and Paramount+.
- One likely scenario is Skydance's David Ellison buys National Amusements, Inc. to gain control of Paramount Global's voting shares.