Paramount Global (PARA) ended its exclusive negotiations with Skydance Media without a deal on Friday, allowing the company’s special committee to entertain other offers, Dawn Chmielewski of Reuters reports. The special committee met Saturday morning, though rival bidders for Paramount are awaiting word on next steps, according to Chmielewski. The committee has yet to contact Sony Pictures Entertainment (SONY), which, together with Apollo Global (APO) sent a letter on Wednesday expressing interest in acquiring Paramount, two sources familiar with the matter told Reuters. Skydance, which has been engaged for months in deal talks with Paramount and its controlling shareholder, Shari Redstone, is evaluating its options, Reuters reported previously.
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