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After months of negotiations, Paramount‘s controlling shareholder Shari Redstone has broken off merger talks with David Ellison‘s Skydance, according to the WSJ.
The two sides have been deep in discussions during and after a one-month exclusive negotiating period and Redstone at one point favored the deal, which called for Skydance to acquired her family holding company NAI, which controls Paramounnt, and then see Par and Skydance merge.
As of this weekend talks were intense but there were a few major sticking points, one said to be over which party party would assume legal liabilities in the case of shareholders lawsuits.
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