Paramount Global Set to End Negotiations With Skydance Media

Paramount Global (PARA) will end its exclusive talks with Skydance Media without reaching a deal, according to the New York Times. A special committee of Paramount's board evaluated the company's options, but some shareholders were critical of the deal.

Sony Pictures Entertainment and Apollo Global Management have expressed interest in acquiring Paramount (PARA) for $26 billion in an all-cash offer. Shares of the media giant Plummets 7% in extended trading.