Barry Diller Explores Bid to Take Control of Paramount
Barry Diller Explores Bid to Take Control of Paramount
Mr. Diller, a digital media pioneer, lost a bidding war for Paramount Pictures decades ago. Now, he’s making a run at its parent company.
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This is the best summary I could come up with:
The billionaire Barry Diller is exploring a bid to take control of Paramount, the parent company of CBS, MTV and Nickelodeon, according to four people with knowledge of the matter.
Mr. Diller’s digital-media conglomerate, IAC, has signed nondisclosure agreements with National Amusements, Paramount’s controlling shareholder, the people said.
Nondisclosure agreements are a key step in deal making, allowing both sides to exchange confidential information.
Mr. Diller’s interest in Paramount is the latest twist in one of the most complex — and dramatic — efforts to sell a media company in several years.
Paramount reached the brink of a deal in recent months with Skydance, a Hollywood studio, before talks abruptly fell apart.
After Mr. Redstone outbid him for the company, Mr. Diller set his sights on continuing to build his new media empire, striking a series of audacious deals to expand IAC.
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