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Paramount Global Stock Jumps On Report Of Revived BET Sale Talks

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deadline.com
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Paramount Global stock jumped 6% on Tuesday on the latest report the company has resumed talking to potential buyers of select assets after pausing the divestments during ultimately fruitless merger talks with Skydance Media.

A group of investors is holding exclusive talks with Paramount about a bid of $1.6 billion for BET Media Group, Bloomberg reported today.

Among the cadre of potential buyers are BET CEO Scott Mills and Chinh Chu, the former Blackstone exec who now runs New York-based private equity firm CC Capital.

Paramount’s battered stock, which slipped below $10 last month, closed Tuesday at $10.72 on average trading volume. It was the highest closing price for the shares since the abrupt end of merger talks with Skydance on June 12.

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