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International Business Times

National

Marvie Basilan

Skydance Accuses Paramount Of Breaching Buyout Deal Terms, Seeks Halt To Bronfman Negotiations: Report

Paramount Skydance Edgar Bronfman Jr David Ellison United States Paramount Global Entertainment Paramount Pictures

Paramount appears to be considering Edgar Bronfman Jr.'s acquisition offer as it extended the period for negotiating with other bidders. YouTube | Paramount Pictures 100th Anniversary Logo (Credit: Paramount Pictures YouTube/Screenshot)

KEY POINTS

Skydance reportedly accused Paramount of breaching its existing acquisition deal
Paramount's 'go-shop' deadline was supposed to end Wednesday, but it was extended through Sept. 5
Skydance has offered to buy Paramount for $8.4B, while Bronfman offers an acquisition for $6B

Skydance Media has accused mass media conglomerate Paramount Global's special committee of directors of breaching the terms of its deal by extending its engagement period with other bidders and has demanded that Paramount end its negotiations with Edgar Bronfman Jr.

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