Barry Diller Withdraws IAC from Paramount Bid Amid Legal Concerns

Diller cites financial prudence and potential litigation as reasons for stepping away from the $8 billion Skydance-Paramount merger.

Barry Diller confirmed IAC is no longer pursuing a bid for Paramount Global.
The Skydance-Paramount deal includes a 45-day period for better offers, with a $400 million breakup fee.
A lawsuit has been filed by a Paramount investor claiming the deal unfairly benefits Shari Redstone.
Mario Gabelli and other investors are seeking more information on the merger's financial details.
Diller criticized the deal's structure, highlighting the financial advantage of Larry Ellison's backing.