Future of Paramount+ among merger talks

[Danja]

...that's less than what's Skydance is offering.

This is "hunting in between the sofa cushions for more money" time.

 

[UssGlenn]

But they always seem to come back to Skydance, and it all seemed like a done deal not too long ago. So they should stop pussyfooting around and decide if they want to have a future with Skydance or not.

They are legally required to be open to other offers for a set period, it's not up to them.

 

[Danja]

Edgar Bronfman Backers, More Details Emerge In Bid For Paramount That Seeks To Unseat Skydance

Edgar Bronfman's bid for Paramount includes backers Steve Paul and Paul Dejoria, Brock Pierce and a Kazakh businessman.

deadline.com

 

[Nerys Myk]

This is "hunting in between the sofa cushions for more money" time.

Wait I found....oh, its just subway token.

 

[StarMan]

Sounds like a better deal for shareholders and Shari still gets a sweet payout.

 

[JoseNoodles]

This is "hunting in between the sofa cushions for more money" time.

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[Danja]

Paramount Merger Saga Continues: Go-Shop Period Extended As Edgar Bronfman Vies With Skydance, Boosts His Offer To $6B

Paramount has extended the "go-shop" period in its merger agreement with Skydance Media in order to evaluate an improved offer from Edgar Bronfman.

deadline.com

Paramount is taking more time before an official handshake with Skydance, using an extra 15 days allotted in their merger contract to explore another bid – a surprise, last-minute offer from Edgar Bronfman Jr., one that the heir to the Seagram liquor fortune has just sweetened.

The special committee of Paramount’s board, which has been overseeing the sale process, acknowledged in a statement that it has Bronfman’s proposal in hand, and extended the go-shop period — for Bronfman only — through Sept. 5. It will expire at 11:59 pm ET tonight for any other potential bidders.

 

[locborg]

Interesting, lets just hand Star Trek to the liquor/crypto guys.

 

[Nerys Myk]

Interesting, lets just hand Star Trek to the liquor/crypto guys.

It's been "handed over" to all sorts. Gulf + Western who bought Desilu in 1967 were into agriculture, apparel, building products, financial services, home and consumer products and exploiting natural resources. CBS was once bought by Westinghouse who made consumer and business electronics and developed industrial power generation technologies.

 

[FederationHistorian]

Is it plausible for Apollo to return and back Bronfman? Or are they out with Sony?

 

[fireproof78]

Interesting, lets just hand Star Trek to the liquor/crypto guys.

It's called business, which Trek has always been.

 

[Danja]

Is it plausible for Apollo to return and back Bronfman? Or are they out with Sony?

Apollo owns Cox Media Group, which owns several TV stations.

Apollo coming back would present regulatory issues.

 

[Danja]

Skydance is tired of fooling around:

Skydance Urges Paramount To Spurn Edgar Bronfman-Led Offer

Skydance Media is urging Paramount Global to stop considering a proposal by an investor group led by Edgar Bronfman Jr. to buy control of the company.

deadline.com

“While Skydance is not currently exercising its right to terminate the Transaction Agreement, we reserve the right to do so in the future,” Skydance’s attorneys wrote.

Bronfman’s offer “is significantly less favorable to the Paramount stockholders from a financial point of view,” the letter continued, noting that Bronfman is offering a much smaller buyout of non-voting, Class B shares. Since the merger discussions first began late last year, the ultimate result of a deal for Class B shareholders has been a major point of contention, with the threat of shareholder lawsuits forcing multiple revisions of Skydance’s bid. Having apparently quelled most of those legal threats as spring turned to summer, the company has now opened up a potential new arena of legal conflict.

 

[StarMan]

Skydance is tired of fooling around:

Skydance Urges Paramount To Spurn Edgar Bronfman-Led Offer

Skydance Media is urging Paramount Global to stop considering a proposal by an investor group led by Edgar Bronfman Jr. to buy control of the company.

deadline.com

Well, that would certainly be one way of making this saga even more entertaining / amusing.

Perhaps not for Paramount employees, though.

 

[Danja]

Well, that would certainly be one way of making this saga even more entertaining / amusing.

Perhaps not for Paramount employees, though.

The Bronfman group has several investors that are based outside of the USA.

That poses a problem from a regulatory standpoint.

 

[FederationHistorian]

Apollo owns Cox Media Group, which owns several TV stations.

Apollo coming back would present regulatory issues.

I ask because the major issue with the Sony-Apollo deal was that Sony is based in Japan and there are regulations that prevent a foreign company from buying an American company. So that attempt to buy Paramount was doomed from the beginning.

Apollo would have a much easier go if they teamed with Bronfman's offer since they are both based in America.

And it would keep the shareholders in Paramount happy, and make them feel like they got the best deal possible.

Besides, Apollo just wanted the Paramount lot.

 

[Danja]

I ask because the major issue with the Sony-Apollo deal was that Sony is based in Japan and there are regulations that prevent a foreign company from buying an American company. So that attempt to buy Paramount was doomed from the beginning.

Apollo would have a much easier go if they teamed with Bronfman's offer since they are both based in America.

And it would keep the shareholders in Paramount happy, and make them feel like they got the best deal possible.

Besides, Apollo just wanted the Paramount lot.

The Bronfman Group has several investors that are based outside of the US.

They have problems of their own.

 

[CorporalCaptain]

Is it plausible for Apollo to return

Of course.

 

[Danja]

Edgar Bronfman “Exiting” $6B Bid For Paramount, Clears Way For Skydance Merger

Edgar Bronfman has discontinued his short-lived $6 billion bid to take control of Paramount Global.

deadline.com

Paramount Board Special Committee Confirms Skydance Merger Will Close In First Half Of 2025, Says “Go-Shop” Period Has “Concluded”

After a late bid led by Edgar Bronfman Jr. fizzled, Paramount's board confirmed that a planned merger with Skydance will close in the first half of 2025.

deadline.com

Bronfman is out. Paramount is Skydance's now.

 

[Noname Given]

Edgar Bronfman “Exiting” $6B Bid For Paramount, Clears Way For Skydance Merger

Edgar Bronfman has discontinued his short-lived $6 billion bid to take control of Paramount Global.

deadline.com

Paramount Board Special Committee Confirms Skydance Merger Will Close In First Half Of 2025, Says “Go-Shop” Period Has “Concluded”

After a late bid led by Edgar Bronfman Jr. fizzled, Paramount's board confirmed that a planned merger with Skydance will close in the first half of 2025.

deadline.com

Bronfman is out. Paramount is Skydance's now.

Yep. Even Trekmovie has an article on it:

Edgar Bronfman Drops 11th-Hour Bid For Paramount; Skydance Merger Set To Complete In Early 2025

The latest dramatic chapter for the company that owns Star Trek comes to a close.

trekmovie.com