Paramount has resumed merger talks with Skydance Media just weeks after an earlier deal fell apart at the last hurdle. The renewed bid from Skydance included a higher offer of $177 billion (€162bn) to get the deal done. Shari Redstone, who controls Paramount, abruptly ended negotiations in the first go-around in mid-June.

David Ellison, the head of Skydance, brought Redstone back to the negotiating table after agreeing to sweeten the deal for the company. Redstone controls Paramount via her family’s company National Amusements (NAI), which owns only about 10 per cent of the Hollywood group but holds the majority of its voting rights.

Media mogul Barry Diller had also been looking into buying a controlling stake in Paramount. NYT first reported the renewed talks between Skydance and Paramount as well as the potential interest by Diller.

Paramount is also currently seeking a partner for its SVoD service Paramount+.

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Categories: Articles, Business, M&A

Tags: diller, paramount, Shari Redstone, skydance