Who will buy Paramount?

[harry580]

well, Skydance set up its go to shop option so blame them for setting that thing up

 

[Daikun]

Bronfman has dropped out.

Edgar Bronfman Drops Paramount Bid

The former Warner Music Group chief initially submitted a roughly $4.3 billion bid last week, and later raised the figure to $6 billion.

www.hollywoodreporter.com

 

[LinusFan303]

Good for him, he wasted everyone's time. He went further than Byron Allen (lol) , but wasted everyone's time. Good thing I'm on the No one should buy it horse, and not the Bronfman horse.

 

[harry580]

well, im glad Skydance say no to this and thought the whole go to shop option is a bad idea

 

[lowell]

well, im glad Skydance say no to this and thought the whole go to shop option is a bad idea

No, so to begin with, they were actually obligated to do both the go-shop and also hold a shareholder vote. Skydance said no to holding a vote but agreed to do go-shop.

If this is a publicly-traded business, it's actually not a bad idea at all to do that unless you really want to get sued the pants off by other shareholders for breaching fiduciary duties.

If it's entirely held privately, then you won't face any fiduciary responsibilities at all unless other owners in the private business disagrees with your handling of the sale process.

Now, Skydance has to actually pony up the lawyers for the Redstones because the family can't afford to handle both National Amusements's $650M debt load and their estate taxes that are coming.