Los Angeles, CA – Media mogul Barry Diller is considering making a bid for Paramount, according to a report from The New York Times. Diller, known for his roles in both Hollywood and digital media, has signed nondisclosure agreements with National Amusements Inc., the majority stakeholder of Paramount.
The current status of negotiations between Diller and Paramount remains unclear, as a representative for the studio declined to comment. Meanwhile, a spokesperson for National Amusements Inc. has not responded to requests for comment.
Diller’s interest in Paramount comes as the latest development in the ongoing saga of a potential sale of the studio. Previous suitors have included Sony, Edgar Bronfman Jr., and an investor group led by Steven Paul. While talks of a full takeover have circulated, most parties have explored the option of acquiring majority control of National Amusements, and consequently, Paramount.
Amidst these discussions, Paramount’s stock has hit a record low following the departure of CEO Bob Bakish and the appointment of three new executives to lead the company as co-CEOs. The recent news of Diller’s potential bid has seen a fluctuation in the stock price, with a minor increase in after-hours trading.
Additionally, top executives at Paramount have revealed plans to sell assets as part of a strategic growth initiative, following a challenging period for the studio. Diller, a former executive at major studios like Fox, Paramount, and Universal, has shifted his focus to digital ventures in recent years.
As the Paramount sale saga continues to unfold, the industry awaits further developments to see how Diller’s potential bid will impact the future of the storied studio.