Paramount merger talks with Skydance called off
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 12 June 2024
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Wednesday, June 12th. I'm Julie Morgan. No deal between Paramount and Skydance. |
| 0:15.7 | Elon Musk drops his lawsuit against Open AI and US sanctions on Russia are about to get even |
| 0:22.4 | tighter. |
| 0:24.3 | Paramount Global dropped nearly 8% Tuesday amid a report that Cherry Redstone's |
| 0:29.4 | national amusement says stop talks with bitter Sky Dance media. |
| 0:34.0 | According to a Wall Street Journal report on Tuesday, which cited people familiar with the matter, |
| 0:39.2 | Redstone is now expected to pursue the sale of just national amusements without trying to merge |
| 0:45.0 | paramount into another company. |
| 0:47.3 | According to the report, the sticking point in the negotiations may have been a potential |
| 0:51.8 | shareholder vote on the transaction. |
| 0:54.0 | Some of the people told the publication that while national amusements was supportive of a vote, |
| 0:59.0 | Skydance said such a vote was a non-starter. |
| 1:02.0 | CNBC separately reported that said such a vote was a non-starter. |
| 1:02.6 | C. NBC separately reported that national amusements could not reach an agreement on |
| 1:07.8 | non-economic terms with Skydance. |
| 1:10.9 | National amusements confirmed in an email statement to Bloomberg that it was unable to reach a deal with Skydance. |
| 1:18.0 | N A I said it was grateful to Skydance for their months of work in pursuing this potential transaction and looks forward |
| 1:25.0 | to the ongoing successful production collaboration between Paramount and Skydance. |
| 1:31.5 | Tesla CEO Elon Musk has withdrawn his lawsuit against Microsoft backed open AI and two of the |
| 1:37.8 | startups co-founder Sam Altman and Greg Brockman. |
| 1:41.5 | According to a report by CNBC, the suit was withdrawn just one day before a hearing was to |
... |
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