The deal to sell Paramount Global that was thought to be dead resurfaced and headed unexpectedly toward the finish line on Tuesday when Shari Redstone’s National Amusements closed a tentative $2.4 billion deal with David Ellison’s Skydance Media.
The deal came a day after news leaked that billionaire mogul and once-Paramount executive Barry Diller had entered the competition for Paramount, and set off what could become an all-out bidding war. But insiders close to the tentative deal said the surprise Skydance agreement appeared to be moving forward apace. Late Tuesday the special committee met over the NAI agreement and advanced to the next stage, vetting the deal to merge Skydance with Paramount.
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