Paramounthas laid out some terms of its planned merger withDavid EllisonsSkydance, including what happens if another bidder appears.
The deal includes a so-called go shop period during which other interest parties can submit offers.
It runs for 45 days from the announcement ofthe deal, which was unveiled late Sunday night.
Shari Redstone and David EllisonGetty Images
The company said Thursday that the go-shop runs through 11:59 p.m. That puts the David Ellison company at the helm.
NAI owns about 80% of Class A voting shares.
The buyers will also invest $1.5 billion in Paramount.
In other words, only Skydance will hold Class A voting share from then on.
There are also some restrictions on business agreements but management still has some latitude on day-to-day operations.
Details of that are confidential.
Generally, no one expects another bidder to make an offer for Paramount.
Barry Diller, head of IAC, has indicated interest.
Deadline will update when thats clarified.
