Paramount Global

Paramount Global’s DTC revenue rose as linear networks continued to slump

Canadian media mogul proposed $4.3B for the company a week ago

Bloomberg is reporting that Paramount has hired a banker to explore asset sales, which would include local TV stations

Paramount and its main shareholder had previously accepted a bid from Skydance Media

Deal covers CBS-affiliated TV stations in 42 markets owned by Nexstar and Mission Broadcasting; Paramount-owned stations in Miami and Detroit will become CW affiliates

Merged venture, named ‘New Paramount’ will be led by David Ellison as Chairman/CEO and Jeff Shell as President

Ellison’s Skydance Media would pay $1.75B for Paramount’s holding company National Amusements

The partnership ensures hundreds of hours of Nickelodeon's hit animated and live-action series will be accessible to families with young viewers and students with disabilities

Parent company National Amusements has issued a statement saying they were "not been able to reach mutually acceptable terms"

The two have agreed to the terms of a merger deal that could be announced in the next few days