"Paramount Global's Stock Soars Amid Takeover Buzz"
TL;DR
Stock in Paramount Global surged nearly 13% on speculation that Skydance Media and RedBird Capital are considering a takeover of Sheri Redstone's controlling stake in the Hollywood conglomerate. Representatives for RedBird Capital and Paramount Global declined to comment on the rumors. Wells Fargo analyst Steven Cahall believes there is a good chance of a deal being made, which could lead to significant divestitures and consolidation in the entertainment industry.
Topics:business#business#entertainment-industry#paramount-global#redbird-capital#skydance-media#takeover
- Stock in Paramount Global Pops on Takeover Speculation Hollywood Reporter
- Paramount shares jump after reports of takeover interest CNBC
- Paramount stock surges more than 14% as sale chatter mounts Yahoo Finance
- David Ellison & RedBird Capital Kicking Paramount Global’s Tires Via National Amusements – The Dish Deadline
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