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Paramount Global shares tumbled Wednesday after Warner Bros. Discovery CEO David Zaslav said during an investor conference that his company isn’t interested in buying the media conglomerate. Speaking at Allen & Co.’s annual Sun Valley Conference in Idaho, Zaslav was asked whether WBD would pursue acquiring Paramount. He flatly said no, according to people who were in the room. Paramount shares fell by more than 8% on Wednesday.
The information follows reports last month that suggested Paramount was no longer in deal talks with Skydance Media. A special committee formed to weigh the Skydance offer was dissolved without a deal. Paramount’s controlling shareholder, Shari Redstone, reportedly favored the Skydance deal, but other investors did not support it.
Persons: David Zaslav, Shari Redstone
Company Names: Paramount Global, Warner Bros. Discovery, Skydance Media, Allen & Co.
Disclaimer: This article has been auto-generated from a syndicated RSS feed and has not been edited by Vitrina staff. It is provided solely for informational purposes on a non-commercial basis.
