With the fate of Paramount hanging in the balance, its leading suitor has just upped the ante.
Skydance also offered to give Paramount shareholders a larger stake in the combined company than it had initially proposed.
The vociferous pushback by investors, combined with the complicated nature of the transaction, means the Skydance deal could still fall apart, people familiar with the process said.
Paramount has been in deal discussions with the movie studio Skydance for months, after Ms. Redstone decided late last year to consider a sale for her media empire.
Since then, the company has entertained interest from suitors including Apollo, the private-equity giant, and Skydance, which is proposing a merger.
Persons:
Skydance, Shari, Redstone
Organizations:
Paramount