Shares ofParamountGlobal edged lower Thursday, day three in the red, amid lingering uncertainty aroundSkydances latest offer.
Shes always had the last word andSkydancewasnt necessarily going to be an immediate slam dunk.
Deadline hears there is one other interested party.
Shari RedstoneSean Zanni/Patrick McMullan via Getty Images
Its not clear if either is feasible or FCC compliant.
Meanwhile, the tone and tenor of ongoing negotiations with Skydance arent clear but may be strained.
He seemed to have CBS News in mind, saying, There is not one news station thats non-political.
I can promote positive information on their stations.
Its a wonderful thing to be able to be a positive influence on everybody.
Sony continues its examination of Paramounts books.
Awkward moments are piling up.
As for Skydance, its revised offer tries to address concerns expressed by stockholders other than Redstone.
Now she gets less and they get more.
Skydance would also invest significant cash in the company.
The stock ended down about 1% today at $11.97 off 6.5% from Mondays close.
So indemnification is an issue and Redstone might like Ellison to assume legal liabilities.
Shareholders may like the deal more more now but would still, most likely, not approve it.
The lawsuits would come from her merging CBS and Skydance as part of a transaction.
A go-shop period is also significant, some say.
It would allow Par to consider better bids even after signing a deal.
Evaluating those if they come is part of a boards fiduciary duty.
One Wall Streeter speculated thats what Apollo and Sony may be waiting for.
