Barry Diller says Paramount pursuit 'might be over' for IAC, CNBC reports (updated)

People Incorporated

26/07/2024 12:06

(Adds background in paragraph 3, details from interview in
paragraph 4)
       July 26 (Reuters) - Billionaire Barry Diller signaled
his digital-media conglomerate IAC  IAC.O  was no longer in the
race to buy Paramount Global  PARA.O , CNBC reported on Friday.
    Diller in an interview with CNBC said it is "hard to
predict, but think it's over for us".
    IAC was among the suitors for the coveted Paramount Global,
which scored a deal with David Ellison's Skydance Media early in
July.
        Diller said he will be "shocked" if there is not a huge
amount of litigation on the planned merger.
  

 (Reporting by Harshita Mary;  Varghese; Editing by Maju Samuel)
 ((HarshitaMary.Varghese@thomsonreuters.com;))