All Deals Are Off For Paramount: Now What?
Can Paramount Global recover from the PR disaster which has been its M&A attempts this year to return as a thriving, competitive entity? On the bombshell news that Shari Redstone, CEO of Paramount’s controlling National Amusements, Inc. torpedoed the SkyDance Media offer that looked like a done deal, Paramount itself is left in a very unenviable position. Brandon Blake, an entertainment lawyer with Blake & Wang P.A., surveys where the group now stands. Brandon Blake A Cancellation Not Well Received From Paramount’s tanking share price, which reached its lowest point in five years off the back of the news, to the frantic rounds of insult-trading and lawyering up we have seen, one thing is clear— the rest of Paramount’s stakeholders aren’t happy. Not helping that overall atmosphere are the reports that Redstone jettisoned the deal from a combination of her personal offer waning as SkyDance sought to court non-voting shareholders and a general annoyance at the pr