Sony Withdraws from Paramount Acquisition Bid as Skydance Deal Progresses

Paramount Global explores other offers during a 45-day window while facing restrictions on new deals for Paramount+.

Sony and Apollo have withdrawn their $26 billion bid for Paramount due to regulatory concerns.
Paramount Global has until August 21 to entertain other offers, with possible extensions if good-faith negotiations occur.
Skydance's $8 billion offer includes restrictions on Paramount's ability to enter new streaming partnerships without approval.
If Paramount opts for another offer, it must pay Skydance a $400 million termination fee.
Potential suitors like Barry Diller and Edgar Bronfman Jr. remain interested in acquiring Paramount.