Paramount Global climbs on after Barry Diller's IAC's interest to take control

People Incorporated

02/07/2024 09:16

** Shares of media giant Paramount Global  PARA.O  2.8% to
$10.42 premarket 
    ** Billionaire Barry Diller's digital-media conglomerate IAC
 IAC.O  exploring bid to take control of PARA
    ** IAC entered into non-disclosure agreements with National
Amusements which holds the Redstone family's controlling
interest in PARA
    ** Shari Redstone, controlling shareholder of National
Amusements, abruptly ended talks with David Ellison's Skydance
Media last month - killing the potential sale of a stake
    ** PARA down 31.4% YTD as of last close 
    

 (Reporting by Pranav Kashyap in Bengaluru)
 ((Pranav.Kashyap@thomsonreuters.com;))