Tonight, our bidding group informed the special committee that we will be exiting the go-shop process.
At the same time, it has pursued a direct-to-consumer streaming strategy, positioning Paramount+ as a global competitor.
Earlier this month, the company announced the layoffs of 15% of U.S.-based workers.
Edgar Bronfman Jr., Paramount StudiosGetty Images
Maybe that help put the brakes on the Bronfman offer.
Bronfmans eleventh-hour offer marked another pothole for Skydance.
That go-shop period was extended for another 15 days.
Shari Redstone andDavid EllisonGetty Images
Reps from Skydance and the Paramount boards special committee did not respond to Deadlines request for comment.
Paramount has referred questions to other stakeholders since the messy merger process began.
