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Communication Services Rise as Paramount Deal Talks Continue -- Communications Services Roundup

July 04, 2024 at 02:03 am IST

Communications services shares rose as the deal talks between Skydance and Paramount Global may be at an end.

David Ellison's production company has reached a preliminary agreement to buy National Amusements, according to people familiar with the matter, rekindling deal talks that fizzled last month. It then plans to merge Skydance with Paramount Global, a deal subject to approval by a special committee of Paramount's directors. Under the proposed terms, Skydance would pay $1.75 billion for National Amusements, the people said. Skydance, known for popular titles such as Amazon's "Tom Clancy's Jack Ryan," and National Amusements have agreed to a 45-day "go-shop period" in which other interested Paramount bidders can make offers. Digital-media conglomerate IAC, owned by billionaire Barry Diller, is exploring a bid to take over Paramount, the New York Times reported Tuesday.

Write to Patrick Sullivan at patrick.sullivan@wsj.com

(END) Dow Jones Newswires

07-03-24 1632ET

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	IAC INC.	46.41 USD	-0.06%	-0.94%	399.56Cr
	PARAMOUNT GLOBAL	11.81 USD	+3.05%	+13.67%	822.36Cr

Barry Diller

Barry Charles Diller is an American businessperson who has been at the head of 19 different companies and currently occupies the position of Chairman of Expedia Group, Inc., Chairman for Expedia, Inc. (a subsidiary of Expedia Group, Inc.), Chairman at IAC Holdings, Inc. (Florida) and Chairman at IAC. Mr. Diller is also President & Director at The Diller-Von Furstenberg Family Foundation, Member-Councilors Board at the University of Southern California, Member-Executive Board at the University of California, Los Angeles, Member of The Business Council, Member-Councilors Board at USC School of Cinematic Arts and Member-Deans Council at Tisch School of the Arts and on the board of 5 other companies. In the past Mr. Diller was Chairman & Chief Executive Officer at Fox, Inc., Director at TripAdvisor, Inc., Director at Live Nation Entertainment, Inc. Chairman for Ticketmaster, Non-Executive Chairman at Ticketmaster Entertainment LLC and President & Chief Operating Officer of Ticketmaster Ticketing Co., Inc. (which are all subsidiaries of Live Nation Entertainment, Inc.), President of Madison Square Garden Corp., Chairman for IAC, Chairman & Chief Executive Officer at QVC, Inc., Chairman & Chief Executive Officer of IAC, Inc., Chairman & Chief Executive Officer of Paramount Pictures Corp., President of Simon & Schuster, Inc., President at MSGN Holdings LP, President at Sega Enterprises, Inc., Vice President-Prime Time Television at ABC Entertainment and Member of Council on Foreign Relations, Inc.

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EXPEDIA GROUP, INC.	Chairman
The Diller-Von Furstenberg Family Foundation The Diller-Von Furstenberg Family Foundation Investment Trusts/Mutual FundsMiscellaneous The Diller - von Furstenberg Family Foundation engages in the provision of philanthropic services to support non-profit organizations. It funds the public spaces, community building, education, human rights, arts, health, and environment sectors. The company was founded in 1999 and is headquartered in New York, NY.	President

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EXPEDIA GROUP, INC.

Chairman