Sony’s Out: Won’t Return To Mix During Paramount’s 45-Day “Go Shop” Window
deadline.comEXCLUSIVE: Sony will not be one of those rival parties trying to shore up a better bid during Paramount Global’s “Go Shop” period following the $8 billion offer by the David Ellison’s Skydance Media.
This is according to sources tonight. The news formally puts to rest the only other confirmed offer on the table to acquire Paramount.
Sony and Apollo jointly made a preliminary $26 billion offer – after a solo bid by Apollo was rebuffed – then signed an NDA and began due diligence just after Paramount’s exclusive negotiating window with Skydance ended.
After a close look at the books and given potential regulatory issues, Sony refined the offer. But foreign-ownership rules in broadcasting and doubts about federal watchdogs allowing two more major Hollywood studios to merge still hung over a deal, and do today.
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