Official press release or SEC filing from IAC or Paramount

Barry Diller Explores Bid to Take Control of Paramount ($PARA, $IAC)

Jul 1, 2024, 11:04 PM

Billionaire Barry Diller is exploring a bid to take control of Paramount ($PARA), the parent company of CBS, MTV, and Nickelodeon. Diller's digital media conglomerate, IAC ($IAC), has signed non-disclosure agreements (NDAs) with National Amusements as part of this potential takeover. This move comes after a failed bid by Skydance to acquire Paramount. The New York Times reports that the process is in its early stages, with details still emerging. This potential acquisition comes three decades after Diller's $QVC failed to take over Paramount in 1993. Lauren Hirsch of the New York Times has noted the early nature of these discussions.